How to Prepare for Buying a Home: 6 Essential Tips
Buying a home is an exciting milestone, but preparation is key to making the process smooth and stress-free. Whether you’re a first-time buyer or planning your next move, taking a few smart steps early can put you in a strong position when it’s time to make an offer.
Here are six essential home buying tips to set yourself up for homebuying success.
1. Contact Our Team
One of the best first steps in your homebuying journey is connecting with a trusted real estate team. Our team has over 25 years of experience in real estate, and we have seen and navigated every type of market. Your success is our goal, and we know how to position you to be a strong buyer when you are ready. If you follow our advice, we will help you find your next home.
2. Talk to a Local Lender
Before you start touring homes, it’s important to understand what you can realistically afford. We always recommend contacting a local lender can help you get pre-approved, explain loan options, and estimate your monthly payment. Working with a local lender also gives you an advantage in competitive markets. Sellers often feel more confident accepting offers from buyers who are already pre-approved by reputable local lenders.
3. Tighten Up Your Credit Score
If your credit score is not in a good spot, your lender can give you some action plans specific to you. Your credit score plays a major role in your mortgage rate and loan approval. Even small improvements can make a big difference in your buying power and monthly payment. Here are some general guidelines for improving your credit score.
To boost your credit score:
- Pay bills on time
- Reduce credit card balances
- Avoid opening new credit accounts
- Check your credit report for errors
Starting this process early can save you thousands over the life of your loan and position yourself for better success!
4. Create a Wants vs. Needs List
It’s easy to fall in love with beautiful homes, but knowing your priorities will help you stay focused and make smarter decisions. We also advise not getting stuck on trying to find a house that meets everything on your list. We always say that we are looking for a home that is about an 8-9/10. But having a list will help us set up a saved search and narrow down what we are looking for.
Start by separating:
- Needs: location, number of bedrooms, budget, commute, school district
- Wants: updated kitchen, large yard, finished basement, extra features
If you’re someone who likes lists or wants a premade template to help you figure out what you are looking for, we have a template you can use that outlines some of the most popular items we see people have on their wants and needs lists.
5. Don’t Make Any Major Financial Decisions
Once you start the mortgage process, stability is crucial. Avoid major financial changes such as:
- Buying a car or large-ticket items
- Opening new credit cards
- Changing jobs or income structure
- Taking on new debt
Even small changes can impact your loan approval or delay closing, so it’s best to keep your finances steady until you have the keys in hand.
6. Save for After-Closing Costs
Many buyers plan for their down payment and closing costs, but forget about expenses after closing.
It’s smart to set aside funds for:
- Moving expenses (boxes, moving company, etc.)
- Utility deposits and first bills
- Furniture and appliances
- Repairs and home improvements
- Emergency savings
Having a financial cushion helps you start homeownership with confidence instead of stress.
Ready to Start Your Homebuying Journey?
With the right preparation and guidance, buying a home can be an exciting and rewarding experience. If you’re thinking about making a move, our team is here to help you every step of the way—from planning to closing and beyond.
