New Year, New Home!
The New Year is almost here, which means now is the perfect time to start setting goals for you and your family. If one of your priorities in the new year is to purchase a new home, now is the perfect time to start preparing to take that next step. There are several things you can do before you purchase your home that will help ensure the process is seamless. Don’t wait till the New Year to start preparing to buy your home! Start now with these tips on how to prepare to buy a home in the new year.
4 Ways to Prepare to Buy a Home in the New Year
Know Your Budget
For most people, buying a home is the biggest investment they will make in their lifetime. Before you start making a list of all the things you want in your new home, analyze your finances to determine what you can afford for your mortgage. You can even make two types of budgets, one for your original budget and one as a stretch budget. Knowing your budget will help guide your search and set realistic expectations for when you begin the house hunting process.
Identify the Neighborhoods You’d Like to Live In
Buying a home doesn’t just mean you’re shopping for the four walls you’ll be living in. You’re also shopping for the neighborhoods, the schools and the other resources an area has to offer. If you want a home near parks or good schools, make sure you have a realtor that knows the area and can help make suggestions as to where you should look, like Rosemary Hieber. Knowing where to look will ensure that you’re making the best use of your time while you’re out searching for your dream home.
Prepare Necessary Documents
While your realtor may take care of all the important things like facilitating the sale of your home and the administrative work that goes with that, you will be required to produce certain documents to start the loan process. Gather your most recent two years W2 or 1099 income statements, bank statements for the last few months and proof of investment income so you’re prepared when your lender asks for them.
Get Pre-Qualified or Shop for a Lender
If you know you’re going to be buying a home in the new year, the best thing you can do is start shopping for lenders. Mortgage rates are still at historic lows. Shop around and see what kind of mortgage rate you can get. And if you’re willing to look outside of a fixed rate mortgage, you can save even more on the purchase of your home. By securing a lender before you purchase your home, you’re saving yourself time when you get to that part of the process.
Find a Home in Orange County This New Year
Orange County is one of the best places to live in Southern California. With amazing weather year-round and some of the most prestigious schools and neighborhoods in the state, Orange County is a perfect place to begin the next chapter of your life, whether it’s starting a family or retirement. The best time of year to sell in Orange County is right around the corner. Late winter and early spring will be here before you know it, prepare now to beat the competition. Rosemary Hieber is one of America’s Top 100 Real Estate Agents. With more than $275 million sold locally and 20 years of top performance, she has helped countless families, retirees and investors find the perfect property in Orange County. Contact her today if you would like her to do the same for you.
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