Want To Buy A Home This Spring? 3 Tips For Spring Home Buyers

In spring, the winter retreats, the sun comes out to play, and homebuyers are ready to invest in new homes. If you are ready to invest in a new home this spring, there are a few things you should do and know to have the best home buying experience this spring.  

Check Your Credit 

If you want to purchase a home, you need to know your credit score. Don't assume that your credit score is ready to go; new reports are added to your credit score daily, which means that you always need to be aware of your credit score. If there are errors on your credit score, that could result in higher mortgage rates, making it more expensive for you to purchase a home. 

Ensure that your credit report is ready to go, with accurate information, by checking your credit. Check with all free major credit reporting companies, as different information is often sent to different companies.  

If there are any errors on your reports, you will want to address them and get them fixed before you apply for a mortgage. 

Create Your Budget 

Don't let a lender dictate your budget. Figure out what you can afford on your own. You will want to consider how much you have to pay for all of your new housing expenses, from property taxes to homeowner's insurance to maintenance. You need to consider if your utility bills will be more or less if you purchase a home.  

You also need to consider what your other financial obligations are. What type of credit card debt do you carry? What type of student loan debt do you have? What are your retirement and savings goals? Be sure to examine your entire financial picture to know how much you can afford to spend on a home on both a monthly and a long-term basis. 

Learn the Market 

Before jumping in and visiting homes in your area, take some time to learn the market where you live. Figure out what types of homes are for sale where you live. Are there lots of condos and apartments? Smaller or bigger single-family homes? What is the average age of construction in the areas you are interested in? 

Learning about the market, what is for sale, and what it is priced at will help you better determine what you need from a home. When you are aware of where the market stands, you can be realistic about what you need from the market.  

If you want to buy a home this spring, be sure your credit report is accurate. Create a budget that encompasses all of your financial goals. Research the market to determine what you want based on current market inventory. Find an agent to partner with from a place like RE/MAX Great Basin Realty and secure your dream home this spring.