Tips and Tricks
First Time Home Buyers
- Be sure you are ready to commit to a loan
- Don’t skip the preapproval
- Maintain your credit
- Save for a down payment
- Understand your loan options
- Don’t forget closing costs
- List your needs, nonnegotiables and nice-to-haves
- Work with a real estate agent
- Be confident when you submit an offer
- Hire an inspector
- Stick to your budget
- Save physical copies of your paperwork
- Don’t stop Learning
Out Of State Purchases
- Create a plan
- Research the area and cost of living
- Find a real estate agent
- Get your mortgage preapproved
- Ask your agent for virtual tours
- Visit the city and potential homes
- Make an offer
- Get a home inspection and appraisal
- Close on your new home
- Create a move-in checklist
Downsizing
- Declutter 90 days before the move
- Consider what to keep and what to pass on
- Digitize everything you can
- Avoid renting a storage unit if humanly possible
- Prioritize multifunctional furniture
- Maximize vertical space
- Avoid hidden costs
Upsizing
- Write down what you need
- Buy the space you’ll use
- Determine your budget
- Take into account your home resale value
- Consider different neighborhoods
- Find a local real estate agent
Second Home Purchases
- Resist the urge to impulse buy
- Evaluate your needs and long-term goals
- Get to know the area before buying
- Hire a local real estate agent
- Decide what type of home is right for you
- Shop around for a mortgage
- Calculate additional expenses
- Consider fractional ownership to cut down on costs
- Look into tax benefits
- Rent your home out for extra income
