Where do you see yourself in five years?
Is a new home in your five-year plan? Who would know better how to get you there than our New Home Consultants? Here’s what they say you should be doing to prepare.
But first,
WHAT’S SO GREAT ABOUT HOME OWNERSHIP?
Owning a home is a great opportunity to turn your monthly rent check into a valuable investment. It’s a great way to plan for your financial future. Owning a home is, and has always been, one of the best financial investments you can make. If you have the opportunity to start early, we recommend it. Smaller homes are great foundations that can set you up for your eventual retirement.
So here’s how to begin.
LOOK AT YOUR FINANCES
The first step in your journey towards a new home is making sure your finances are in the right place. Start by checking your credit score. Trying to buy a home with poor credit will not only be difficult, but will affect your finances for years and years to come. Start strengthening your credit ASAP to make the whole process easier. It’s also a great idea to start saving for your down payment as soon as possible. The more you can save, the more options you’ll have when it comes time to buy. If you need a reminder of exactly what it is that you’re saving for, read our blog on understanding the cost of building a home.
FIND A GOOD LENDER
Finding a good lender is just as important as finding the right builder, especially if this is your first time buying. Even in the age of mobile and online banking, it’s often easier to work with a local lender. Local lenders often offer great programs tailored to your specific situation, and will be there to answer any questions you might have along the way. This is an important decision, though, so remember to shop around for the lender that’s right for you.
NARROW DOWN YOUR OPTIONS
By narrowing down your list early, you won’t start barking up the wrong tree. Do some research and decide what general area or specific neighborhood you’d like to move to. Next, decide what you’re looking for. A condo? A RediHome? Do you want to build new? Think about size. Is this a starter home? Are you expanding? Are you right sizing? Answering these sort of questions up front will save you a lot of time and energy.
If a new home is in your plans, these are great places to start. To speak to a Bielinski New Homes Consultant about your future, contact us here.