BHHS Verani North Andover

Your Pre-Home Search Checklist

by Marianne Avila 05/29/2022

Buying a house is a complicated financial and logistical process. The right preparation can make a huge difference in making the process go as smoothly as possible. Here is a list of the most important things to do before buying a home to help you prepare:

Check Your Financials

There are a few financials you should check on before working on finding a house. Your potential mortgage lender will look through every detail of your financial life, so the more you can address beforehand, the better. Things to consider include your credit score, debt-to-income ratio, emergency savings and regular cash flow.

Create a Budget

The simplest way to budget for buying a house is to make a list of your current expenses. First, tally up your personal monthly expenses like credit card payments, loan payments, car payments and any other recurring expenses specific to you. Then, create a list of the expenses related to your new house. This list should include mortgage, property taxes, homeowner’s insurance and mortgage insurance payments. Comparing the two will help you determine how much house you can afford and how much to budget for.

Get Pre-Approval

Shopping for the best mortgage lender before you begin your home search is a great way to stick to your budget and have a smoother buying process. Each lender has different terms, policies and practices, so finding the best fit is crucial. Once you decide on a lender, get a pre-approval letter from them as proof you are financially responsible for affording a mortgage up to a certain amount. This helps secure your place in competitive home sales and will make you a more attractive buyer overall.

Find an Agent

Working with a real estate professional during your home buying process will save you time and frustration. Find an agent or broker you want to work with first and rely on their expertise to find the perfect home. The knowledge and resources available to real estate professionals will make the search and purchase much smoother.

About the Author
Author

Marianne Avila

Welcome to Marianne Avila and her team at the Real Estate Integrity Group of Berkshire Hathaway Verani. Named Achiever of the Year New England 2021 and Platinum Top Producer is what sets her apart from the rest. We put over 25 years of experience to work for you to make your dreams a reality. Integrity is in our title because we are committed to providing expertise, counsel and advice to the highest degree with honesty, manage negotiations fairly, and provide creative Win/Win solutions. No compromises, no mistakes. We believe that a higher standard for the real estate industry has been set based on this belief system. Marianne has embraced the Team concept and taken it to the next level with a multi-person real estate team. Expect prompt and consistent communication, confirmed appointments, professional standards and a Team of specialists to support the transaction from start to finish and provide creative Win/Win solutions.