Buying a Home on Your Own

Are you thinking about buying a home on your own this year? You?re not alone. According to Freddie Mac, single-person households have almost doubled in the United States over the last 40 years. They now comprise 28 percent of all households. If you?re hoping to begin the home buying process this year by yourself, here are our most helpful tips.

Get a handle on your credit

As a single homebuyer, you will need to qualify for a mortgage on your own. It is essential that you get a handle on your credit before you begin the process. Order a copy of your rapporto di credito and check it for errors. If you find any, then you can dispute them. In addition, pay attention to your credit score. Getting your score as high as possible will make lenders more willing to work with you. 

Know how much you can afford

Next, consider how much house you can afford. It?s crucial to know your budget before you begin searching for a home. Use an online calculator to help you figure out your target. That way, when you begin your search, you can focus only on homes you know you can comfortably afford. Don?t forget to take into account the money you?ll spend each month on maintenance and repairs.

Save for the down payment

Once you?ve figured out your budget, then it?s time to start saving for a down payment. The more money you can put down on a home, the better. Paying at least 20 percent of the purchase price upfront will mean you don?t have to pay for private mortgage insurance (PMI). That being said, don?t let your down payment stand in the way of buying a home. There are several programs out there that allow you to buy a home for as little as three percent down ? especially if you?re a first-time buyer. Know your options and choose the best route for you. 

Figure out what you want ? now and in the future

You can?t get what you want if you don?t know what you want. That?s why it?s so important to get clear about your needs before you begin your hunt. How many bedrooms do you need? Do you want a large backyard? Do you need space for a home office? Consider your life now and where you?d like your life to be in the future. 

Shop for a mortgage

Finally, you?ll want to guardarsi intorno for a mortgage. Different lenders will offer different terms and rates. You could save a considerable amount of money by talking with different lenders and getting their pricing. Like any large purchase, it does pay to shop around.

Work with a trusted professional

When you?re buying a home on your own, it is incredibly beneficial to work with a real estate agent you can trust. Contact Agent inc. a 949-791-8160 o [email protected] today to get started. Let?s open your world to new possibilities!