Deciding to buy your first home is thrilling, but it can also take you into intimidating territory. Should you just go out looking at houses for sale, or is there anything you should do first? Where should you even start? Fortunately, a little preparation can eliminate a lot of the stress and make finding your dream home the exciting adventure you want it to be. Below are a few steps to take care of before you start the process.
3 Ways to Prepare to Buy Your First Home
1. Get Your Finances in Order
Start by getting a free copy of your credit report and checking it over for errors and outdated information. In fact, the FTC estimates that up to 20% of these documents have mistakes that could drag down your score, making it harder to get a mortgage. You can also raise your number by paying down credit card debt—but don’t close out any of your accounts.
2. Prioritize Your Needs
Shopping for a home is overwhelming if you’re not sure what you’re after. Make a list of features you must have, focusing on elements like location, square footage, and number of rooms. This will give you a sense of what matters most and keep you from getting pulled away from your priorities.
3. Find an Agent
Every good real estate agent has an in-depth understanding of their local market, which they can use to narrow down your options. They’ll also be able to find houses for sale you might not have looked at on your own and will negotiate with sellers on your behalf, so you get the best deal possible.
The skilled agents at Tracey Real Estate live, work, and play in Brooklyn, NY, so they know the borough well. If you’re planning on buying your first home, you can count on their team to make the experience as stress-free and exciting as possible. Visit their website to start browsing apartments or houses for sale, and call (718) 376-4994 to schedule an appointment to discuss your dream property.