Here are some simple tips to help you feel easy during a busy schedule and starting the process of choosing a new home!
Purchasing a new home is an exciting step in the next chapter of your life. A new property means you can start choosing and arranging new furniture, planning that epic housewarming party and preparing to make lifelong memories.
But…this kind of process can take time. Between getting everything you need together to finding the perfect place to call home, it can take a couple of months.
In fact, research shows that 56%of all home buyers say that finding the right home is the most difficult part of the entire home buying process. It’s a task that can feel daunting if you’re already juggling a full work schedule, taking care of a family or maintaining hobbies and friendships – or all of the above.
Although there’s a lot of preparation that goes into finding a home, you don’t have to sacrifice your daily routine or delay the life you dream of having at a new property.
Here are six tips that can help you manage a busy schedule and maximize your time while searching for the perfect abode.
1. Gather your paperwork and get pre-approved for a mortgage.
First things first. Before you start the home buying process, it’s recommended you get pre-approved for a mortgage. As strange as it may seem to do this first, getting pre-approved will confirm that you’re a reliable borrower off the bat and streamline your search tremendously.
A lender or loan representative can help you through this process by reviewing your income, credit and assets to see if you’re eligible for a loan, how much you can borrow and to calculate the potential interest rate.
Your lender will know all the steps to take and gathering this paperwork beforehand will save you both a ton of time. If you’re eligible, the lender will submit your application and you’ll get a pre-approval letter. You can give the pre-approval letter to real estate agents who will then know which houses are within your budget.
2. Review your savings determine your budget.
Before you start searching for a home, it’s important that you’re comfortable taking on all the costs that come with homeownership. Most of us aren’t taught how to buy a house in high school, and it can feel overwhelming when you don’t know what expenses to factor into your budget.
Off the bat, you’ll need to factor in a down payment, closing costs and yearly property taxes well as other upfront costs like a home inspection and moving. Remember, there are plenty of circumstances in which that down payment can be less than 20%. In fact, they can be low as 3.5 %. You can also shop around for a favorable interest rate, especially if your credit is good.
3. Regularly dedicate a set amount of time to searching for a new home.
It’s easy to get distracted by life’s demands. But searching only sporadically for a new home online hinders you from tracking listings that go on and off the market quickly.
Instead, block out an hour each day that’s convenient for you to search for properties. A perfect time might be before dinner, after you’ve completed household chores or once the kids are off to bed.
4. Call your real estate agent during your commute or lunch break.
It takes a lot of time and energy to search for a home, whether you’re on your own or with a spouse or partner. Perhaps that’s why 86% of all home buyers use a real estate agent to help with their home search.
Find someone you trust and someone who is available. It is so important that the person you are working with cares about you throughout this journey.
Zoom, meet for coffee…virtually or in person…. just be sure to put a face to a name!
5. Set up Alerts for properties that match YOUR criteria.
There’s no time to waste when it comes to snatching up a dream home in a competitive real estate market. If you delay a purchase on a swoon-worthy property for too long, another home buyer will probably put down an offer. Consider setting up alerts for properties that match your criteria or for emails from your real estate agent so that you can swiftly respond with an offer if needed. Likewise, alerts and memos from voice assistants can notify you when a listing, showing or seller communication pops into your inbox.<
6. Schedule home tours for after work and weekends.
To cut down on stress, schedule walk-throughs for after work or during weekends when you’re already out for the day. Real estate agents work on commission and often have flexible schedules, so they will even go out of their way to set up a tour when you have free time.
No matter how busy your schedule is, these time-saving tips can help you avoid the anxiety of searching and get you closer to finding the home of your dreams.