Buying a House on Your Own

Posted by Gabrielle Fuqua on Tuesday, May 2nd, 2017 at 4:08pm.

Single or not, buying a house isn’t an easy process for anyone, but with smart planning and informed decisions it can result in finding your dream home. But before making any decisions, consider these tips:

Scrutinize Your Finances

Don’t underestimate the importance of laying out and calculating required finances both for the purchase as well as the recurring cost associated with a home. Talk to a Mortgage Lender long before you plan to buy. They can help lay out a plan. In order to determine how much you can afford, first make sure you have enough saved for a sufficient down payment, typically 5-20%. Next, consider additional required finances such as closing cost. Further, properly estimating your recurring cost will help you to make a smart decision. Some costs to keep in mind include mortgage, taxes, insurance, HOA fees, utilities, as well as unexpected costs such as repairs. All of these costs are manageable, but being prepared will save you stress in the future.

Shop For Mortgages

We work with a preferred lender we really trust and are happy to share their contact information, but don't be afraid of shopping around and doing your own research. You may find that interest rates vary. Make sure you pick a lender that ensures a smooth closing. Online lenders may not be as invested in the local market or care as much about your referrals after the closing. Once you find the right one, be sure to get pre-approved so that you can determine your budget, and stick to it!

Set Goals

First decide what the house will be to you, a financial investment, or your forever home? Next, set specific, and attainable goals. Financial goals, such as setting aside a predetermined amount each month can prevent stressful future hiccups. Although you may encounter unforeseeable changes in the future, sitting down and planning out what you hope to gain from this purchase will help you to decide what steps you need to take.

Let Me Help

As agents we live and breath houses. We are always willing to help you set forth a plan even if you're still a way out from actually buying. Our local knowledge can help you determine which neighborhoods fit your lifestyle, the trend of home values, and give you more information so you can determine when it's the right time to buy for you.

Achieve Your Dreams

Long gone are the days of the cookie cutter life being everyone's dream. Buying a home can be scary for anyone, but if you get the right help and make smart decisions, you can make your dreams a reality.

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