It may be January right now, but spring is right around the corner. And when the warmer weather reappears, more houses will be listed and potential buyers will flood the market. So, if you’re even considering the possibility of buying a home this year, we have a few home buying tips to help prepare you and hopefully make the process as stress-free as possible.
Get pre-approved now.
We know what you’re thinking, why would I get pre-approved before I have a house to buy? Well, there are several reasons actually. The most important one, in our opinion, is that by getting pre-approved early, you still have time to improve your credit score or pay down your debt-to-income ratio in order to qualify for a better loan. It also allows you to catch any mistakes on your credit report and resolve them in time to qualify for that better rate.
Getting pre-approved early ensures your expectations are in line. We’ve had a multitude of clients come to us thinking they will qualify for a much higher loan amount because someone they know did. If you get pre-approved now, you skip months of browsing homes online that are out of your price range.
Assemble a team you can trust.
Of the three home buying tips we’re covering today, this is the most important one to take away. We cannot stress enough the importance of choosing a lender and realtor you can trust. Over the years, we’ve had a few clients come to us after horrific experiences with other lenders who are shocked at how easy the home buying process can be.
We value our customers’ satisfaction above anything else, which is why we take the time to explain the entire process to them, keep them updated on their loan’s progress, and make ourselves available for questions on nights and weekends. Not to mention, we’ve been working in Omaha for over 20 years and have developed an outstanding reputation in the industry. A pre-approval from a well-trusted lender is a great way to make your offer stand out from the competition.
Similarly, you need to choose a realtor you can trust. A trustworthy realtor won’t push you to make any rash decisions, will share their industry knowledge with you, and be an invaluable resource.
Decide your price range.
As we mentioned above, getting pre-approved early will let you know your price range. However, as we warn our clients, just because you’re pre-approved for an amount, doesn’t always mean it will be in your best interest to purchase a home at that amount.
We encourage our clients to consider the monthly payments more than the overall price. While you may be approved for a $300,000 house, the $2,000+ monthly payments you’d be making may not fit within your budget.
These are just three of the many home buying tips we have in our arsenal. We’d love to get you pre-approved and talk you through the process. Give us a call at 402-991-5153 to get started today!