Happy New Year

The New Year provides people with renewed hope, a fresh start, and the determination to succeed. If purchasing a home happens to be one of the resolutions you’ve set for yourself this year, use these tips to help you accomplish this goal.

Get your financial house in order – Unless you plan on paying for your new home totally in cash, it’s important to assess your financial status. Check your credit score, clean up any wrong information on your credit report, pay off large debts, avoid purchasing high priced items (car), and increase your debt-to-income ratio. Lenders will evaluate your finances to determine how much you qualify for. The less debt you have the better loan you should be able to obtain.

Get pre-approved for a mortgage – Do this before you start looking at homes in Wake Forest NC . You will know how much you can afford and hopefully avoid falling in love with a home that is out of your budget.

Determine your budget – Just because you get pre-approved for a loan doesn’t mean you will want to spend the maximum amount you’ve been pre-approved for. Determine what you will be comfortable spending on a monthly basis to figure out how much home you truly want to buy. Start saving for your down payment and don’t forget to account for closing costs, homeowner’s insurance and other costs.

Begin your search today – The beginning of the year is always relatively slow when it comes to the housing market. Start your search today to take advantage of there being fewer house hunters during the months of January and February. Consider enlisting the help of a realtor and use websites and apps like Trulia, Realtor.com, and Zillow to search for your new home.

Select your neighborhood – Are you looking for something urban, suburban, or rural? Do you want to be close to work, good schools and other community conveniences such as restaurants, shops, hospitals, recreational facilities, worship centers? Is a homeowner’s association (HOA) right for you? Pick a neighborhood this is right for you and your family.

Must haves – Do you prefer a single family home or a townhouse? Do you want one-story or two-story home? Decide on what you can live with and what will absolutely make you walk away from home. Remember, buying a home is serious and it is also a long term commitment. You don’t want to purchase something now that you will regret later.

We hope these tips will help you achieve your New Year’s resolution of purchasing a home in 2017. Heritage would be honored to build your home. Contact us today at 919-453-2000 to learn about which of our beautiful townhomes and single family homes in Wake Forest NC is the right one for you.