Preparing for the Home Buying Season – 10 Tips

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Finally, the home-buying season is coming up, as the real estate agents and home buyers start swarming the market. People often wonder “is this a good time to buy a house” or “is it a good time to buy property” – according to various experts, spring is the best time to find the house of your dreams and strike some outstanding deals whilst saving heaps in the process with LystHouse.

 For most of America, the spring home buying season lasts typically from April to June. However, striking your favorite deal might not be as easy as it may seem, as buyers from all around the world are on their toes hunting for the best deals. If you’ve found an amazing deal, immediately finalize it without taking much time or else some other buyer is probably going to take away your deal.

This year, the real estate market is going to get hot, so gear up to catch the best deals. Here we have shared some top tips to help you prepare for the home buying season and score the best deals.

Create a Wish List

If you do not know what you want, you might end up wasting a lot of time. Write down the number of bedrooms you will need and the amenities that are a necessity. Above all, keep your budget in mind and stick to it when making your deals.

Discuss With Your Co-Buyer

If you and your partner are going to purchase a home, it is essential to consult with each other, in order to ensure that you both are on the same page. The presence of conflicting opinions is bound to make the process even more difficult.

Identify Your Credit Score

Your credit score is going to play a major role in the rate you will be encountering when getting a mortgage for your house. Therefore, you need to make sure that your credit is not extremely low, as banks do not lend to individuals that have a bad credit score.

Check Your Credit Reports

Before applying for a loan or mortgage, you need to clean up your credit history, in order to increase the chances of being accepted. Ask your bank to provide you with the credit report and study your credit report thoroughly to identify any issues. Once the issues have been identified, you can rectify them to improve your credit history.

Dispute Any Errors Off

Credit bureaus usually take 30 to 40 days to resolve any errors or remove any inaccuracies from the credit report. Therefore, if there are any errors present in the report, now is the best time to have them rectified.

Credit Card Debt

If you have any debts remaining, start paying them off to improve your debt-to-income ratio and creditworthiness. Moreover, issuers usually give an update regarding your monthly charges to credit bureaus, so it is important to get rid of any big balances to make a good impression.

Researching Interest Rates

Do your own research to find out the current rates and ranges, as the interest rate will play a huge part in defining your monthly payments.

Filing Your Taxes

You will need to provide your tax information or details to your bank or lender, before getting the mortgage, therefore, make sure to download or print your tax returns from the last 2 years.

Create an Emergency Fund

Since purchasing a home is going to drain your bank accounts, you need to create a backup reserve to make sure you are not empty handed once you have invested in purchasing the home. Keep at least 6 to 12 months of your earnings as a backup.

Pick an Appropriate Location

When looking to purchase a home, one of the most important factors you must decide on is the location. As the location will be the only thing that you won’t be able to change, making a list of your preferred areas will allow you to score the right deals easily and conveniently.

If you’re ready to get started on buying or selling your home, give us a call and we’ll get the ball rolling for you! (855) 866-8339. When you purchase a home with LystHouse, we’ll give you .5% cash back at closing that you can use to help with expenses or whatever you want. If you’re selling also, when you buy with LystHouse we sell your home for FREE saving you 3% of your sales price. So don’t wait, call LystHouse today. (855) 866-8339

 

 

 

 

 

 

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