4 Ways to Prepare for Buying Your First House

by Carolyn Kay 01/12/2020

Buying a house can be complicated. Before you can get started, you must know how much money you can spend, what kind of house you're looking for, what kind of house you can afford in your area and other factors. This is a good time to get started! Below are four concrete things you can do to get prepared to purchase a house in 2020.

Know Your Must-Haves

Every house is different. Number of bedrooms, lot size and home size, location and character of the neighborhood are all variables that change from one house to another. Knowing what your priorities are can help you narrow your search as you look for a house.

In order to know your must-haves, it will be helpful to know your goals for the future. Whether you plan to have children or more children, pets or more pets, or whether you plan to take up hobbies that require vast amounts of space are all factors that could affect what kind of house you will want. Talk to the other members of your household to make a list of must-have features for your new home.

View the Listings

Know what kind of homes are selling in the area where you plan to buy. Knowing what homes are available, and how much they cost, can help you get a sense of the house that you can realistically buy when the time comes. Viewing listings can also get you thinking about other house features you may not have considered yet.

Make a Budget

Knowing how much you can afford to spend is important. Contact lenders in your area to find out how much money you'll qualify to borrow. Doing this early can help expedite the shopping process, as getting pre-approved can take a few days.

Examine your savings and determine how much you can put down for your down payment. Put some money aside for moving expenses and household repairs, assuming the house you buy may need some fixing-up before you move in.

Not sure how much to set aside for moving? Contact a few movers in your area to get guesstimates. You won't be able to get an exact quote until you have a delivery location, but movers may be able to give you a rough idea.

Once you know how much you plan to borrow and how much you can put down, pay closer attention to the prices in the house listings in the areas where you plan to purchase a home. This will tell you if you can really afford to buy a house in the neighborhood where you want to live.

Find a Real Estate Professional

Interview real estate professionals to find the real estate professional who will help you through the home buying process. Look for a real estate professional who communicates and listens well, and who demonstrates understanding of your priorities. The real estate professional you choose should have experience with homes in the neighborhoods where you would like to buy. Working with an expert can help make the experience less stressful and more satisfying overall.

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About the Author

Carolyn Kay

As a Real Estate professional, I specialize in helping my clients buy, rent or sell properties in Westchester County. I am passionate, dedicated and committed to my clients and my first priority is to provide them with first class service and guidance throughout the entire process. It has been said that I go above and beyond for my clients to get the deal closed! I have experience working with clients who have financed their purchases with either a conventional, VA or FHA loan and have a good understanding of how they work; no sale is too big or too small for me to take on. My family and I relocated to England for 2 ½ years, this was a wonderful experience but at the same time, it was overwhelming. I have first hand knowledge of the challenges as well as the positives in discovering a new community. I was born and raised in Scarsdale and once married, my husband and I decided to raise our two daughters here. Both of our daughters successfully graduated from the Scarsdale schools and are both married, living and working in Manhattan. After living in the same house for 30 years my husband and I took the leap, sold our home and bought and renovated a condo townhouse in another town. Once again we are discovering a new community and fully understand the highs and lows of selling a home we loved and buying and making a new home. I feel that my personal real estate experiences have made me more in tune with my client’s needs and therefore better able to help them navigate through the complex process. Please call me so that I can put my knowledge and experience to work for you.