So you think you’re ready to take the plunge into homebuying in 2021? Achieving this goal takes proper planning and organization to get the best results. Here are five house-hunting New Year’s resolutions you should keep to get you ready for a lifestyle change.
1. Create a Wishlist
Creating a wishlist is the best part of the process. Clearly defining your wants and needs will help you stay focused when you start browsing online and attending open houses. Imagine what you want your new home to look like. Is a pool a must-have? Do you really need a fireplace? Consider your current family dynamic and what would make you and your loved ones comfortable.
2. Research the Local Market
Now that you’ve honed in on your ideal place, do a little surfing on the internet. Start on REIN.com. Explore new communities around Hampton Roads. Catch up on real estate trends and news. Get educated on the market in your area. Find out what homes are selling for in cities or communities you’re interested in. Once you’ve done your due diligence, connect with a local agent who can help you fill in any gaps.
3. Find an Agent
There are many benefits to using an agent in your search for a new home. Foremost, an agent has access to the multiple listing service, REIN MLS. Your agent’s access gives you access to all listings in your area. An agent is also a skilled negotiator who can help you navigate conversations with sellers. The time and dedication they apply to find a perfect fit for you will only save you time, and it could save you money.
4. Improve Your Credit
If you’re uncertain of the strength of your credit, now is the time to start paying attention to it and addressing weak areas. Your credit score is key in getting approved for the best rates on a mortgage. Check out our blog on how to get on track with your FICO score.
5. Limit Your Spending
Take a look at your spending habits. Are there areas you can tighten up on? Do you really need subscriptions to four streaming services right now? Try to avoid making large purchases. Hold off on buying that new car. Your debt-to-income ratio will affect what a lender is willing to loan you. As you get closer to taking steps to buy, cracking down on your finances is critical.
Commit to making these New Year’s resolutions, and you’ll be on your way to being a new homeowner in no time. Connect with one of our 7,000 agents to help you navigate the Hampton Roads real estate market. If it’s a question of what you can afford, check out our mortgage calculator to help estimate your monthly payments. For local listings you can trust, start with REIN.com.
Local Home Listings You Can Trust.