Synergy Realty Network, LLC
Vicky Stewart, Synergy Realty Network, LLCPhone: (615) 881-4757
Email: [email protected]

Tailor Your Home Search to Your Budget

by Vicky Stewart 05/18/2020

For those who want to simplify the homebuying process, crafting a budget is ideal. Because if you tailor your house search to your finances, you can eliminate the risk of spending beyond your means to acquire your dream residence.

Now, let's take a look at three tips to help you budget for the homebuying journey.

1. Analyze Your Financial Situation

Request a copy of your credit report – you'll be glad you did. You are eligible to receive a free copy of your credit report annually from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Once you have your credit report, you can assess your credit score and take steps to improve it as needed.

Getting your credit report can help you identify outstanding debt and other financial issues that may make it tough to acquire a house. If you can correct these issues today, you can eliminate the risk that they could impact your ability to buy your dream residence in the near future.

2. Consider Your Homebuying Expenses

The price of a home is one of many financial considerations that a buyer will need to evaluate during the property buying journey. Fortunately, if you map out your homebuying expenses, you can ensure that you'll have the finances available to cover these costs as you pursue your dream home.

For example, a property inspection may be used to assess a house's condition before you finalize a home purchase. This inspection will require you to hire a professional home inspector, so you will need to make sure you have the money available to cover the cost of this homebuying expense.

You should consider home closing costs as well. And if you start saving for home closing fees and other homebuying expenses, you won't have to worry about scrambling to get the money to cover these costs as you navigate the property buying journey.

3. Get Pre-Approved for a Mortgage

Pre-approval for a mortgage is a must, regardless of your homebuying goals. If you meet with a variety of banks and credit unions, you can analyze your home financing options and select a mortgage that suits you perfectly.

Banks and credit unions are happy to teach you about different types of mortgages and how each type of mortgage works. Plus, if you have any mortgage questions, banks and credit unions are ready to respond to your queries right away.

As you prepare to pursue your dream house, you also may want to hire a real estate agent. In addition to helping you streamline your search for your ideal residence, a real estate agent can put you in touch with the top mortgage professionals in your area, help you plan ahead for various homebuying expenses and much more.

If you want to conduct a successful home search, it may be a good idea to prepare a homebuying budget. Thanks to the aforementioned tips, you can craft a homebuying budget so you can accelerate the process of acquiring your dream house.

About the Author
Author

Vicky Stewart

Hi, I'm Vicky Stewart and I'd love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. I'd be honored to put my real estate experience to work for you.

I currently serve buyers and sellers located in and around middle Tennessee and the Nashville area. I hold client satisfaction as my highest priority, and work hard to make the entire home buying and selling experience as productive and enjoyable as possible. Clients working with me have mentioned they appreciate my friendliness, understanding/compassion, professional integrity, and dedication.

My knowledge and experience have allowed me to handle a wide range of clients and situations. Whether clients are looking for a home for the very first time or they're seasoned investors; I will work tirelessly to accommodate your needs and exceed your expectations. I am well-versed in the area's housing market and strive to find my clients those hidden gems that other agents may overlook.

I value each and every client I have earned and strive to build strong, lasting relationships with them that go far beyond business. Being a mother myself, I totally understand how much families put on the line when they invest in a home. That's why I like to work closely with my clients every step of the way, making the otherwise overwhelming process completely stress-free. I am passionate about what I do and love finding the best homes for my clients and their families.

To learn more about my real estate services, please don't hesitate to give me a call today. 615-881-4757