There’s currently a lot of debate in the housing industry as to whether a person should first purchase a “starter” home or go straight to their forever home. Whether you’re seeking your forever home as your first home or you already own a home but it just isn’t your forever home, here are some things you’ll need to pay attention to when you’re finding your home.
When to Start Looking
1. Check your credit and see if it needs repair.
It’s best to get all three reports. The companies you’ll be looking at retrieving your report from are Equifax, Experian, and TransUnion. Per our information from the banks, for a government loan you need a credit score of at least 640, and for a conventional loan you’ll need a score of at least 660.
If your credit doesn’t meet those minimum requirements, we have some repairing to do. The first step to repairing your credit is to print your reports and check them for any incorrect information. For more information on getting started with repairing your credit score, contact me!
2. Don’t make any sudden movements!
The second step to take to begin your hunt for your new home is to not make any sudden movements! No really, now is not the time to change jobs or open that new line of store credit to buy the couch you’ve been dying over for the last six months. Any changes in your financial world may prevent you from getting your forever home. Just sit tight and keep doing what you’re doing until you’re relaxing in the home of your dreams!
3. Touch base with a bank.
This is the scary part for a lot of folks but, have no fear, we’re here to help you through it! When you’re looking for your forever home, it’s very important to have your financials in order. Let’s face it, the last thing we want to have happen is that you find the perfect home and lose it because you don’t have the paperwork in order.
Start by contacting a bank. Many mortgage companies now allow online applications to begin the search. Before you start looking for a home, you should have an idea of what you can get approved for as well as calculate out what your monthly payment will be, including taxes and insurance, so you know what you are comfortable spending.
4. Create a wants and needs list.
Believe it or not, this is important to discuss before you move on to the next step. Whether you’re purchasing the house yourself, with a significant other, or a roommate, each future homeowner should consider what they want in a home and need in a home. Then, have a conversation about it and decide collectively how you want to proceed.
5. Start looking for your home.
If you want to make it easier on yourself while searching for your perfect home, contact me. Or if you’re more comfortable, you can start online and contact me when you want to tour a home. It doesn’t matter if you find a home you’d like to see on our website or on someone else’s website – you can still contact me to advocate for you.
To help you begin the search for your forever home visit our website at sceniccityrealty.com! Our search tool gives you access to all listed homes in the Redwood area.
How Will I Know It’s the One?
Finding your forever home is finding your safe place, your sanctuary, your retreat. People find their sanctuary differently. Some are love at first sight and others take a little time. It’s much the same when finding your family’s forever home.
After viewing the home, you may have that rush of familiarity or it may be a growing realization that this is the one. There is no right or wrong answer but you will know when it’s right.
And remember, this is fun! Don’t put too much stress on yourself. This process is something you can enjoy! Let’s have fun together and find the perfect home for you.