The Homebuyers Guide to Purchasing a Home – Part 1 of 2
You’ve decided that it is time to purchase a new home. Though touring roswell nm homes is a fun and exciting time there are many logistics that should be taken into consideration. Below you will find part one of two of our homebuyers guide to purchasing a home.
1. Get your finances together
It is important to get your financial house in order when you’re ready to purchase a home. Lenders will look to your debt-to-income ratio to determine how much you qualify for and therefore you want to present yourself as an ideal candidate. Check your credit report to clear up erroneous items. Pay off as much of your debt as possible and put off taking out additional lines of credit or making big purchases.
2. Get pre-approved
What you desire in a home and what you can afford may be different. Talk to a lender to get pre-approved for a home loan in order to know what you can really afford. This will avoid you from looking at homes that you cannot afford. You should also ask prospective builders who their preferred lenders are.
3. Do your homework
Just like anything you should do your homework. Research everything from builders of interest, prospective areas, the community and school district. Find out how close you are to grocery stores, shopping centers, work, extracurricular activities, etc. Traffic can affect your commute so make sure you test it during the hours you will be driving to and from somewhere. You should also see how the neighborhood looks during the night as well as during the day. Talk to neighbors to get their thoughts on the neighborhood as well.
4. Don’t get too emotional
There’s no doubt that purchasing a home is an emotional process. But you must take the emotion out of purchasing a home. Being too emotional can cloud your judgement and possibly have you make a decision that may not be good in the long run.
5. The hidden costs of homeownership
Homeownership is a major financial commitment. Not only will you be responsible for monthly mortgage payments but there will also be additional costs such as HOA fees, utilities, maintenance fees, property taxes, utilities and closing costs. Make sure to account for these additional expenses so that you are financially prepared to purchase the home of your choice.
We hope this will give you a start when looking at roswell nm homes. Look out for part two of the homebuyers guide to purchasing a home in our next blog post. And in the meantime, come visit French Brothers Homes at our model home in the beautiful Sorrento community to let us take the guess work out of home buying for you.Tags: new homes for sale roswell nm, new homes roswell nm