Not Quite Ready To Buy A Home? You Can Still Prepare By Taking These Steps

Posted on: 10 October 2019

Have you been thinking about buying a home, but decided that you need to wait another six months or so in order to save more money? This is a common phase, and it can be a frustrating one. You're so excited to move ahead and find your new house, but you have to exercise some patience! But while you will have to play the waiting game if your finances so dictate, there are some steps you can begin to take right to prepare for house hunting.

1. Find a real estate agent.

Some people just sign up with the first real estate agent they come across, but since you have some extra time on your hands, you might as well interview a few agents. Pay attention to the way they interact with you, how well they communicate, and what services they offer their clients. Find someone who you feel comfortable around, and who seems to know the market in your local area. Let them know you're not quite ready to buy yet — but that you'll call them when you are.

2. Narrow down the neighborhoods.

It's too early to shop for your exact house, but it's not too early to shop for your perfect neighborhood! Spend some time driving around your area. Make a list of specific neighborhoods where you would like to live and places where you absolutely do not want to live. Pay attention to the school district, how far the homes are from stores, the crime rates, and so forth. You can give this list to your real estate agent so they know where to focus their search.

3. Keep your credit up.

You may not be applying for a mortgage just yet, but keep your credit score up so that when you do apply, you are offered a good rate. Make all of your payments on time. If you have any smaller debts, such as outstanding balances on credit cards or a student loan that has been paid down to $1000 or less, try paying off those debts. Doing so will often raise your credit score and make you more appealing to lenders. 

The waiting period between the time when you decide to buy a home and the time when you actually can afford to do so can be intense. However, if you follow the steps above during this time, you will at least be making some forward progress. 

Contact real estate services for more information.