If one of your plans for the new year includes buying a home, here are a few things you can do now to help put yourself in prime position for 2025:
1. Get Pre-Approved for a Mortgage
Understanding what you can afford/are comfortable committing to for a monthly payment is a critical early step. It not only provides clarity on your budget to help frame your search, but a pre-approval letter from a lender is a vital component of an offer so having one on file allows you to be prepared to act whenever the ideal home is found.
2. Identify You Non-Negotiables
Make a list of your “must-haves” versus “nice-to-haves” for your dream home. Consider factors such as location, square footage, proximity to work or schools and future resale value. Be both idealistic and realistic.
3. Budget Beyond the Purchase Price
The purchase price is the biggest line item when buying a home, but be sure to plan additional costs like furniture and potential renovations.
4. Engage with a Trusted Real Estate Professional
In our minds, this should be Step #1. We are here to guide you through the homebuying process and to offer recommendations and assistance along the way. We do not charge by the hour, so utilize us as a resource. Every homebuyer’s journey is slightly different, and that is an aspect of our job that we love!
Final Thoughts
Buying a home is an exciting journey that marks the beginning of a new chapter. With these tips, you can be ready to find your dream home in 2025!