How to Prepare to Buy

[Brittany Kimble]

   So, you are making the decision to buy your first home. What now? It’s a wonder why something so important wouldn’t be taught in high school yet, here we are. So, let’s talk about it. Whether you are buying, selling or investing there are going to be some things you will need to complete prior to purchasing. This is a vital time, so making large purchases right now can be detrimental to you. Now is not the time to buy that new car or change career paths. You want to be sure to enter into your home buying process with financial consistency and financial stability.

   In addition to maintaining your expenses, you will also need to monitor your credit score. Your credit rating has a large impact on your future home and your price range. This is where a great lender comes into play. Pair with a seasoned lender, get your credit checked and determine what price your future home will be.

   Last and most importantly, create a file and store the following pertinent information:

· Auto loans

· All bank accounts

· Credit cards

· Lease Copies (for investment properties)

· Financial statements

· All Investments

· Tax returns

· Pay stubs

· Life insurance, 401K statements, Investment Portfolio(s), etc.

   I know that in 2021, the home buying process can be stressful. In Atlanta, GA the inventory is low, prices are at an all-time high and nothing stays on the market for more than 2 days. (I’m exaggerating however, this is happening) With this being said, it is very important to work with someone who is licensed in real estate. Granted, public sites such as Zillow.com, Realtor.com, etc are making the home buying process easier for the unlicensed, a person with the experience will be sure to properly manage, market, and guide you through the process with ease. You will have great confidence knowing that someone with concrete knowledge and expertise of the current market will take care of you. After all, who can predict what will happen in 2021?