Are you ready to accomplish your homeownership goals this year? It can feel like such an overwhelming process, and many don’t even know where to start. To help you get started, we’ve broken it down into 3 steps:
Step 1: Get pre-approved!
While this may feel almost too early, getting pre-approved will help streamline the entire home-buying process. Start your process as you start looking for homes!
Step 2: Create a Budget!
Creating a budget can be one of the most challenging steps in the home-buying process. Here’s a simple ways to create a budget:
- Jot down how much income you make every month. Note your monthly expenses, and don’t skip out on any! For example, eating and drinking at restaurants, groceries, car payments, cell phone payments, subscription services, etc.
- Predict that you’ll spend no more than 28% of your monthly income on a mortgage every month, and determine if that suits how much you have leftover.
- Toy around with your budget until you find a sweet spot where you feel like you can still live a comfortable life while paying off your mortgage.
Step 3: Get an Agent!
Find the right real estate agent for you! Arguably the most important tip! A real estate agent will help you navigate the market, decipher contracts, help you when it’s time to bid, and be your overall support system during the process.
