Going through the process of purchasing a new home can take a long amount of time or a short amount of time depending on how quickly you find what you are looking for. If you start the process ahead of time, you will make it easier on yourself and your family when the serious searching begins. Here are a few ways you can prepare if you are planning to purchase a home in 2018!
Figure out your wants, don’t-wants, and negotiables
These are not things you necessarily have to decide right away, but it’s good to talk to your family and discuss the things you want collectively. Important factors like the location of your home and your budget can determine where you start to look and you can continue to narrow it down from there. Other decisions like specific homesite, home style, and design options will come later, but focus on other factors first.
Talk to our sales managers
We pride ourselves in making sure we have the most approachable and helpful sales managers at each of our new home communities. If you are unsure about what you are looking for, it is our job to help make home buying decisions easier for you and your family. Once you have a basic idea of the location you want and the type of home you are looking for, be sure to schedule an appointment!
Organize your finances
Being organized before purchasing a new home will save a lot of time throughout the process, and will give you the advantage of knowing your financial status ahead of time. Take a look at your credit score and credit history, do your best not to open new credit cards, browse around for a mortgage lender, or even meet with a financial consultant. Any steps you take now for getting your finances in check will help out when the time comes to purchase a home.
Keep tabs on mortgage rates
The constantly changing market of real estate, along with shifts in the government, has mortgage rates changing all of the time. While the lowest rates for 2017 were seen in August, the changes are sometimes very difficult to predict and will vary from year to year. Towards the end of this year and in the beginning of 2018, stay informed about what is going on and things that may affect interest rates in the housing market on Bankrate.com or other credible resources.
Don’t go overboard during the holidays
The holidays are a time to celebrate with family and friends, but also to set goals for the upcoming year. If purchasing a home is one of your goals, give yourself a break this holiday season and take it easy on the spending or vacations. Think of DIY gifts and bring back “it’s the thought that counts”, plan a staycation in your hometown instead of jetting off to somewhere warm, and even ask for money/gift cards instead of the new boots you wanted. When the New Year rolls around, you’ll have a head start.
Even if you’re not looking to purchase a home right now, browsing doesn’t hurt, right? Head on over to our website at millerandsmith.com to look at all of our new homes and communities in Virginia and Maryland!
Sources: bankrate.com, realtor.com