If your New Years' resolution is to buy a house, you're not alone. For many, homeownership is a dream that can sometimes feel unattainable. From credit checks and down payments to seemingly endless paperwork, the process can be challenging. What many don't realize is, the path to homeownership is not as difficult as you might think. With a little preparation and a clear plan, you can look forward to calling yourself a homeowner in the new year. Read on for three tips to help you on your way.

Steps You Should Take When Buying a Home

1. Make a Financial Plan

If it's your dream to buy a house in the New Year, you'll need a plan. Before heading out to view houses, set aside some time to review your finances.

Decide how much money you can realistically afford to spend on your monthly mortgage payment, including added fees such as property taxes, HOA fees, and homeowner's insurance. Make sure you've set aside enough money for your downpayment, which can range from five to 20%, depending on the terms of your financing. 

2. Get Pre-Approved

In a competitive housing market, stories of broken-hearted house hunters who lost the home of their dreams to a competing offer are all too common. After all, sellers are typically looking for the most attractive offer on their homes and would rather work with a buyer who is pre-financed.

Pre-approval shows sellers and real estate agents that you're serious and that you've done your due diligence and are ready to take the next step of putting in an offer. In many cases, this step can put you at an advantage over competitors who are not pre-approved. Plan to shop around for the right mortgage broker, comparing rates from at least three lenders.

3. Interview Real Estate Agents

Your real estate agent can be an invaluable resource in helping the home-buying process run smoothly. When seeking out an agent, do your homework. Look for a local and reputable real estate agent who is familiar with your area and has contacts within the industry including lenders, home inspectors, and appraisers.

Plan to interview at least three agents, preparing ahead of time by writing down any questions you may have, researching their experience, and their online reviews. Look for a real estate agent who is not only knowledgable but one who makes you feel comfortable. After all, you'll likely be spending a lot of time together. 

If you resolve to buy a house in the new year, contact the professionals at Open Real Estate in Lakewood, CO. Their knowledgable and friendly real estate agents have helped countless members of the greater Denver community navigate the path to homeownership. With a reputation for personalization and undivided attention, their team will work with you to find the home of your dreams. Contact them today at (303) 232-1111 to meet with a member of their team or visit them online to view their listings.