GETTING READY TO BUY OR BUILD A HOUSE
Select a location that is best for you.
Make a written list of criteria that not only satisfy your current needs but will serve you well in the years to come.
How far are you willing to travel to work and to other family destinations?
Start a written list of your criteria.
What is important to you? Are there house features that you simply "must have"? Put them on your list. Carefully consider each item on your list. Refer to your list of criteria and look at houses and properties that fit your criteria.
Find out your FICO score.
This will determine how a potential lender will view you as a buyer. Your FICO score will be used to determine the interest rate you will be offered. FICO is an acronym that originated from the Fair Isaac Company, developed the system of consolidating all of your credit information into one three-digit number. Improve your score by reducing existing credit debt.
Determine your price range. Look beyond the monthly mortgage payment and include other costs such as taxes and utilities. Educate yourself about the mortgage rates. Look at the payments you will have in the long-term as well as those payments early in the life of your mortgage. Focus on finding a house you can afford.
Select professionals who can offer and deliver the help you need. Use a realtor. As a buyer, this is a free service to you. You need to have a professional in your corner. Choose one who has a successful sales record in the area you have selected.
Get an Inspection. When you find a house that you are seriously considering, get a home inspection- You will need to know what areas of the house may need repair or replacement before you finalize the sale. Attend the inspection so that you understand all aspects of the inspection. This is more helpful than reading a report of the inspection.
