When it comes to finding your dream home, money matters
As soon as you decide you want to take the leap into homeownership, it’s time to start budgeting your money and saving up for your down payment, which is typically anywhere from 3%-20% of the purchase price of the home.
While there are many costs involved with purchasing a home, coming prepared with your finances will position you in a better place to purchase your home with ease.
Below I’m sharing 3 money tips you’ll need to keep in mind before, and during your house hunt.
Know what you can afford
Before you start shopping, and even before you talk to a lender, decide how much you feel comfortable spending on a mortgage. Consider how much money you would actually feel comfortable spending, and what would leave some wiggle room in your budget.
Once you decide to start saving for a home, pull your credit report. This will tell you whether your credit score is high enough to qualify for a mortgage. If it’s not, you can work on increasing it before you talk to a lender.
Save for extra expenses
Don’t forget to set aside money for any other expenses associated with your new home, including moving expenses and new furniture, any renovations you might need to make- along with closing costs
Contact me if you're interested in getting started in your home purchase process.
The Ace Team