Jennifer M. Lee, PhD
House Goals 2021: 5 Steps to Buy This Year
Updated: Jan 19, 2021
Historically low interest rates mean it's a great time to buy! Here's your game plan for 2021:
1) Find a mortgage lender you trust. Talk to friends, family, and your Realtor for recommendations.
2) Go ahead and put in that application. Knowledge is power. Even if your lease isn't up until June, connect, apply, and get advice on correcting any credit issues that may have popped up. It's never too early for expert direction. That way, in 6 months when you're ready to buy, you'll have the credit for a great interest rate, and extra money saved. You don't wait to go to the dentist, do you?
3) Yes, do call me now! Even if you're 6 months to a year out, reach out! Find an agent you trust through personal recommendations and start a conversation. Seek out sage advice. A trusted agent knows the real estate market, and can make recommendations so you can make early and ongoing educated decisions. It's your money and your home, so seek a trusted expert!
4) Surfing and dreaming is a good thing! Early Realtor.com use is recommended. Get an idea for what is out there on the market in your preferred price range so you have realistic expectations, and know what you need in your new home. Research helps to narrow your in-person search.
5) Baby your credit, Beef up your savings. You don't need to put 20% down nowadays unless you want to, and a great lender will walk you through the many options available. Stockpile your cash now, because you'll want to replace that carpet eventually anyway! Also, take care of your credit...the higher your score, the lower your interest rate. The lower your rate, the lower your month payment.
Buying a home is exciting and should be a relatively seamless and joyful experience if you choose your team members carefully! Seek wise advice, and start your baby steps. Happy 2021!!