The past year has been a real challenge for a lot of us, and now we can finally put this year behind us and look forward to a better 2021. If 2021 is the year that you decide to take the exciting leap into homeownership, then we have some great tips to get you well on your way. The path to homeownership can be a confusing and daunting one; we have put together these tips to get you in the best position possible to get the home of your dreams.
Take Control of Your Finances
It may seem a bit basic, but it cannot be overstated, you need to behave like a boss when it comes to your money. Take a look at your debts and make a plan to pay them off. Budgeting can be a lot more complicated than just telling someone to save their money. We recommend using a budgeting tool, there are tons out there that are really user friendly like Lola. Their spend management tools can help you curb wasteful spending and reach your savings goals. Taking care of your debt and saving for your down payment are critical steps to getting you into a home. Your new home is a big investment for your future, taking control of your finances now will secure your future home for 2021.
When you are ready to start shopping for a home you first need to shop around for a lender. A good lender will know all of the potential benefits you qualify for and the type of mortgage that will serve you best. Knowing the right questions to ask is important, NerdWallet has a great list of top questions to ask your potential lender to be sure that you have all the information you need. Building your financial literacy and knowledge is very important to ensuring you understand every step of the process. A home will be the biggest purchase in your life, don’t be shy about asking questions and be sure that you understand everything. Once you are preapproved you are able to shop with confidence. One step closer to homeownership!
No matter where you are in the home buying process, just starting to save or pre-approved and ready to move, knowing what you want in a house is critical to getting you into your dream home. Looking at homes online early on will give you a good idea of what homes are going for on the current market. Knowing what you are looking for and what location you need to be in for schools and work is a big start in the process. We are experts in the local real estate market and would be happy to chat with you anytime to find the ideal Treasure Valley location. You can also search for homes on our website.
The excitement of buying a home can quickly turn into anxiety and even frustration as you begin to learn all of the ins and outs of becoming a homeowner. Going into the process with your finances in order, pre-approved for a loan, and a good foundational knowledge for what you want and where will make the home buying experience exponentially better. We wish you the best in 2021!