Now that the holidays are over and you have taken down the last of the Christmas decorations, you can get refocused in the search for your dream home. Buying a home in the new year has many advantages. As your premier real estate agent for homes for sale in Brea, here are some tips or resolutions for buying the perfect home in the New Year.
One of the best New Year’s resolutions that you can begin when looking for a perfect home is saving for a down payment. The larger the down payment, the less of a mortgage you will have to borrow which can mean one of two things:
- You can purchase a more expensive home.
- You can borrow less money and pay your mortgage down faster.
Regardless of what decision you make, the faster you start saving and the larger the down payment you have, the easier it will be to get pre-approved for a mortgage and you will have a far more realistic sense of what type of home you can afford.
Build your Credit
As you are saving for your down payment, you should also be building your credit. Building credit will make getting a pre-approved mortgage far easier and will show your bank that you are trustworthy and can pay your bills on time. You can easily improve your credit score by doing the following:
- Don’t spend over 30% of your approved credit each month.
- Pay all bills on time.
- Pay the entire amount of borrowed credit off each month.
Be sure to check your credit regularly to make sure that you are on the right track and are indeed improving your rating.
Once you are well on your way to saving for a down payment and establishing a strong credit rating, it is time to approach a wide range of lenders and see how much you will be pre-approved for. This number will help get you started on your home search and give you a better understanding on what type of property you can afford.
Begin Your Search
After you have been pre-approved it is time to narrow your home search and begin looking at properties that are within your budget. Be sure that the properties that you are looking at are going to fit your future needs. You may want to make a list of the strengths and weaknesses of each home. This is where the right real estate agent can open a wide range of properties for you to look at that you may not have considered.
These simple New Year’s resolutions will have you well on your way to finding that perfect home. If you would like any other tips or resolutions when searching for your home in the New Year or are interested in viewing some of the new and exciting homes that are available on the Brea real estate market, please contact me today. I look forward to hearing from you soon.
Happy New Year from the Darryl Jones team.