Is your New Year’s resolution to buy a house? If so, you don’t have to wait until January 1st to start. Creating a game plan and familiarizing yourself with best practices will ensure the smoothest process once you begin your home hunt. Below are steps to take now and later for the ideal outcome.

How to Buy a Home in the New Year

1. Make a Must-Have List

Streamline your search by first knowing what you need. Start with the basics. If you’re a four-person family, you’ll likely want at least three bedrooms. Consider a guest room or home office, as well.

Move next to amenities. If spa-like bathrooms, a large yard, a finished basement, or chef-inspired kitchen are a must, make a note. Consider location-based needs as well, like a gated neighborhood, reputable school district, or area with nature access.

2. Know Your Budget

A budget will further narrow your search. As a rule of thumb, a mortgage payment shouldn’t account for more than 28% of your gross monthly income or 36% of your total debt. Many homeowners have difficulty paying beyond this guideline.

Next, talk to mortgage lenders to learn about rates and get loan preapproval. If the loan is not enough, you have time. Focus on lowering your debt by paying off credit cards and substantial assets at the beginning of the year. The lender may then give you a better loan.

3. Hire a Real Estate Agent

A real estate agent is an invaluable resource. They know the market and can advise on the best time to buy based on trends. They’ll find homes that meet your criteria and then handle negotiations and closing if you move forward. Look for a local agent with residential real estate experience and plenty of availability.

4. Schedule an Inspection

Once you find a home you’re interested in, schedule an inspection. Home inspectors check the property from top to bottom. They’ll assess everything from the plumbing, electrical wiring, HVAC, and foundation to the doorknobs to ensure they’re working and up to local codes. If they find issues, ask the seller to lower the home price to match necessary repairs, or to have them handle it before you buy.

If you’re ready to buy a house in the Kirkwood, MO, area, turn to Mary Vann of Coldwell Banker Gundaker. Mary is backed by 20 years of real estate experience and works with both home buyers and sellers. She’ll carefully assess your needs and the local market to ensure you get the best deal on your transaction. Explore current properties on her website and receive updates about new properties in your area by connecting on Facebook. Call (314) 574-3030 to schedule a consultation.