Happy Monday from the Vermont Mortgage Company! We hope you enjoyed the gorgeous weather over the weekend! While it may not be 69 degrees anymore, but it’s still rather pleasant out. Thanks to the refreshing weekend, we are coming into the workweek with a new sense of vigor. We’ve compiled a handy-dandy list of 5 things you should keep in mind when looking for a house to buy. Who knows? These secrets could help you find that dream home you’ve been looking for!
1 – Don’t shuffle your funds.
When you’re preparing to buy a house, it is a good idea to keep your funds in the same place. Additionally, it is best to not make big purchases or generate new debt. Making sure your funds are available and not floating around gives bankers a good paper trail, which can help you get the loan. If you are going to receive a substantial gift from someone, make sure the funds stay in the account for a few months. This will ensure the funds don’t appear sketchy when bankers look over your accounts.
2 – Pre-Qualified and Pre-Approved
As we have said before, getting pre-qualified for the loan is always a good start (which we will do at no cost or commitment!). However, getting pre-approved for a mortgage can help even more! This will save you a lot of time, and will give you a good range on what houses you can actually afford. Use this secret to get you extra time to find good deals and great interest rates!
3 – Don’t try to time the market
While there may be trends in the market, it is a good idea to not try and wait for a golden opportunity. As we have seen, the market can be quite volatile, and waiting could end up hurting your chances of getting that dream home. The secret to getting your dream house is to: a) find it, and b) buy it when you can afford it.
4 – A house isn’t a fling, it’s an investment
You walk into a home and instantly fall in love with it – the colors, the size, the garden, it all looks perfect. However, while it may be love at first sight, one must always exercise caution. Instead of following your heart, use your intuition to determine if the house truly is the best fit. Falling for a house can cause you to overlook something that in the not-too-distant-future, could ruin the experience for you. On top of this, you should invest in a home inspector. While it costs extra, it’s best to utilize their expertise. Not only could it save you thousands, it is also a great way to negotiate the price of the house. This secret could be the ace up your sleeve in getting a great deal.
5 – Before you buy it, live it
Remember that you will be buying and living in this house for many years. While it could be an amazing house, you are also moving into the area. Visit the house often, and at different parts of the day. Walk around the neighborhood and make sure you’d really want to live in the area. From the prospective house, take a trip to the grocery store, your job, or school and see how long it takes. These will be things you deal with on a daily basis, so it is best to ensure that you want. Lastly, if you like the neighborhood, look at the houses on offer there. It is not always the best to buy the biggest, most expensive house. Even in a good neighborhood it won’t appreciate as much as the worst house, so keeping this in mind can help you prepare for if and when you try to sell it.
We hope these little secrets help you in finding that dream home! Our goal is to help you achieve that dream, so always keep us in mind! Reach out to us at 802-863-2020, or get apply online at vermontmortgagecompany.com.