Think you’re ready to buy your first home? This is a big step and one that requires careful planning and consideration. Keep these key factors in mind when you finally decide the time is right for you!
No. 1 factor is money…of course.
Potential home buyers need to first:
- Pay down your debt
- Make sure you have a good chunk of change in the bank
- Review and perhaps consider revising your budget to qualify for a loan
Next on the agenda is considering where you want to live, how long do you want to be there – a few years or decades? Do you want to raise a family there? Other things to consider:
- Urban vs suburb
- Taxes vary based on community and schools
- Amenities such as public transportation, parks, arts
These conversations are important to have before beginning your search. Once you have a better idea of what you want it’s time to hire a financial expert. This is where your relationship with a mortgage originator and Realtor in San Diego come into play. Both of these individuals are great knowledge sources for you and can make the process easier and less stressful.
A loan officer will help you determine:
- How much you can afford
- Get you pre-qualified and pre-approved
- Determine your FICO credit score
- Collect require documentation
- Educate you on the various loan programs available to meet your financial needs
Once you’ve gone through these steps, it’s time to hire a Realtor who can assist you in finding the perfect first home in San Diego for you.