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Buying a new home can be one of the most exciting times of your life. The prospect of settling into the home of your dreams may have you feeling joy, but it also may have you feeling quite anxious. With so many factors to consider, and so many emotions, it may be difficult to decide where to really focus your attention. If you are looking to buy a new home soon, here are a few key points to try to keep in mind.

Financial Homework is Non-Negotiable

Before you begin looking at houses, you’ll need to sit down and really comb through your finances. Take a look at your income and all expenses you incur on a monthly and annual basis, and then go from there to figure out how much home you can realistically afford. Look at your debt-to-income ratio and think about paying down debts like credit cards. If you haven’t checked your credit in a while, now is a good time to tackle that task as well. Get to know your credit score and check online resources to estimate loan possibilities. Educate yourself about the fees and costs of closing on a property and be prepared for those extra expenses.

Finding a Home You’ll Truly Love Takes Work

Once you have your budget prepped, it’s time to find that perfect home. Sit down and make a list of what you absolutely must have, what you would like, what you could live without and anything that is a deal breaker. When you start looking at potential properties, take your time and really think about how many items on your list the property checks off. If you think you’ve found your dream property, make a second appointment to take a closer look. Check out bathrooms and try out faucets, open cabinets and be aware of smells. If you see any appliances you must have, be sure to include those in your offer. Many people are not aware that some appliances, like refrigerators and washers and dryers, don’t necessarily come with a house.

Buying a House Can Be a Lengthy Process

Finding that perfect home may feel like a relief, but know that getting to closing may not be as exciting. The Lenders Network explains that it can take about 46 days from the time you go under contract until you close on your new home. If the homeowners still occupy the property, they may have longer to vacate the premises. So be prepared to wait a month or more before being able to move into your dream property, but know the extra time can benefit you in the long run. You’ll have plenty of time to schedule necessary inspections, talk to the homeowner about possible improvements, and get the best rate on your mortgage.

You’ll Need to be Prepared for the Costs of Moving

You’ve made it to the closing and have your keys in your hand, so now it’s time to start thinking about the move itself. Use a moving calculator to estimate the true costs of your relocation, and to get quotes on the different moving options available to you. Think about hiring professional movers to help you pack, especially if you have a large home or a lot of heavy items to move. If you decide to move yourself, put together a moving checklist of supplies and tasks to complete along the way. Finding and moving into a new home is a process, but you shouldn’t be worried. The joy of having a place to call your own and the memories you will make far outweigh the work you will put into your search and relocation. Happy house hunting, and congratulations on making this big move in your life!

Useful Reference Links

Buying a House in 2019: What You Need to Know/span>
Thinking of buying a house? Here’s where to start
Buying Your First Home?
Thinking about buying a home?
How to buy a house

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