Years of renting out your residence have passed and you finally have enough money saved up to purchase your first home, but are you ready? As you may know, there is an immense amount of work to be done. With everything you need to prepare, pack, and sign, let Treasure Valley Movers take some of the stress off your plate and offer some tips on buying and moving into your first home!
Talk with a Lender
Realizing that the home you are in love with isn’t in your budget is crushing. Talking with a lender before you start looking for homes will help you know what you can afford. Real estate agents are looking for prepared individuals who have their finances in order before purchasing a home, so make sure you talk to your lender beforehand!
Find the Right Real Estate Agent
A realtor will be your best friend while trying to find the house of your dreams. They will listen to your wants and needs to try and find the perfect home for you. With so many options out there, it is imperative that you go with someone you trust, as well as going with your heart. Interviewing with multiple agents will give you a gauge of what they offer and how they will support you!
Don’t Open Any New Credit Cards
Read, read, read this! During the mortgage application process, a review of your credit score is thoroughly conducted for any red flags and a new credit card will definitely stick out. Despite your credit card application taking off a few points from your score, it lowers your overall age of accounts which looks bad in the mortgage approval process.
Don’t Quit Your Job While Searching
When obtaining a mortgage approval, the key ingredient is that you will have a stable income to pay off the loan. If the bank has any indication that you will not be able to pay back the money borrowed in a timely manner, they have no motivation or reason to help you out. If you do lose your job, however, inform your lender as soon as possible. Trust and transparency is essential when it comes to buying a home!
Hire the Right Moving Company
Rather than having a long day making multiple trips back and forth to your new house when moving alone, be proactive and hire a moving company! Moving companies ease the anxiety of getting everything moved in a timely manner. Not only will they work efficiently, the job will get done at an affordable price to eliminate any added worry of moving! Wherever you plan on going in the Treasure Valley, our team at Treasure Valley Movers is here to help make the moving process as simple and stress-free as it can be!
The steps listed above are crucial when wanting to purchase your first home. As exciting of a time as it is, staying on top of your finances and getting the jump on finding a quality real estate agent will make your experience all the more rewarding. If you have any questions about moving into your first home, contact Treasure Valley Movers to get a quote and discuss any questions or concerns you may have!