The wedding and the honeymoon are joyous times, celebrating with family and friends. As you move into daily life, home buying becomes one of the largest decisions you make together.
Planning and communicating will save you time and reduce arguments later. Define how long you expect to live there and whether this is where you will begin to raise a family. This will impact what you need in a home.
1. Deposit Considerations
Prior to considering your amount for deposit, be sure you have at least three to six months income set aside for emergencies. A larger down payment will reduce your monthly payment and the time terms.
2. Check Your Credit
Check your report for any discrepancies and deal with them immediately. We can’t stress how important it is to clean up your credit before entering the market. If you need to, take your time and pay things down. Do everything in your power to improve your score. Once you begin the process, make no other large purchases until you close escrow.
3. Choose Your Lender
You can apply for pre-approval on your loan. The pre-approval letter is good for 60 to 90 days, locking in interest rates and speeding up the entire process.
4. Choose Your Real Estate Agent
A real estate agent will save you time and money, especially when it comes to negotiating. We also suggest you find an agent that knows the neighborhoods and amenities.
You’ve defined your dream, planned your finances and are pre-approved. Make a list of homes within your budget and consult your agent. Patience and proper planning will help this purchase become a great investment for your new family.
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