KIRSTEN COLE REAL ESTATE
  • Home
  • Meet Kirsten
    • Testimonials
  • Properties
  • Buy
  • Sell
  • Real Estate Info
    • Beach Life
    • News & Resources
    • Beach Cities Market Updates
Picture

News & resources

A checklist before buying a home

3/23/2014

0 Comments

 
Picture
You might be ready to buy a home, but are you prepared?

Regardless of whether you are a first-time home buyer or an experienced owner, it’s good practice to conduct a pre-purchase reality check before buying a house. Before you jump into the financial commitment of the purchase, give careful consideration to your financial situation and whether you are truly prepared to buy.

Here is a six-item checklist of items to check off before buying a home:

• Strengthen your credit score. In general, the higher your credit score, the lower your down payment and monthly payments, which impact your buying power.

• Get pre-approved for a mortgage. If you’re truly serious, do your research on rates and have your financing in place before you walk through the first house to know how much you can afford, and to make a stronger offer.

• Have your financial house in order.  Beyond what your credit looks like, don’t change jobs, change banks, buy a vehicle or any big-ticket items. Avoid inquiries into your credit, don’t be late on payments and don’t charge excessively.

• Save for a down payment and closing costs. The national average for down payments nationwide is 16 percent, according to LendingTree. Also know the average closing costs in your area.

• Build a healthy emergency fund. Have several months worth of mortgage payments set aside, so lenders can see you’re not check-to-check, making you a better loan candidate. Plus, repair issues and home emergencies always come up.

• Control your debt and know how much you can afford. Gain control of the debt you already have, starting with high-interest debt. Know how much payments you can afford, with a safe formula that expenses should not exceed 28-31 percent of your gross monthly income.
0 Comments



Leave a Reply.

    Picture

    Categories

    All
    Architecture
    Beaches & Parks
    Community News
    Education
    Food & Drink
    Home Decor
    Home Improvement
    Real Estate
    Site-seeing Landmarks

    Archives

    June 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013

    RSS Feed

​Contact Kirsten to get started today. 

(310) 756-3524
Kirsten.cole@VistaSIR.com

Ask her about her newsletter to get current South Bay Market information and real estate news right to your inbox... no spammy ones, promise! 
Vista Sotheby's International Real Estate

    Buying, selling, or investing in our beautiful beach cities,
    Kirsten is happy to answer any questions you may have.

    Please use this form to ask a question, request a market evaluation for your home or property, or just to say hello. 

Submit
Copyright © 2021 Kirsten Cole. All rights reserved. 
  • Home
  • Meet Kirsten
    • Testimonials
  • Properties
  • Buy
  • Sell
  • Real Estate Info
    • Beach Life
    • News & Resources
    • Beach Cities Market Updates