Hi, I’m Jeanine Corcoran agent and owner for The Corcoran Connection and today I wanted to share things to avoid when buying a home. First, don’t be the buyer that drives around looking at homes without being pre-approved for a loan.
Tip number one is getting pre-approved for a loan first. A lot of buyers think let me find the house first then I’ll let my lender know what house I want and then he can approve me for the loan. That is backwards.
Get with a lender first so that you know how much you can afford. There is nothing worse than driving around looking at houses and thinking that you are going to buy a $350K house and you go back to the lender and they look at your numbers and tell you that you can afford a $250K home. That is a lot of wasted time. Don’t be that buyer.
Don’t be the buyer that is driving around calling every for-sale sign on every house. This leads to tip number two for buying a home. Find a good broker or agent to work with you. Let them be your cheerleader, let them help you through the process. Let them help you set your goals and be a partner through the whole thing.
It is a tremendous value to have someone alongside you that is working for your needs. Set up a consultation with an agent. How do you find an agent? Search for one online and read their reviews and watch their videos, get to know them, and then talk to them until you find the right one to work with you.
Avoid incurring extra debt during this time. Stay away from using your credit card during the process of buying a home. A lot of agents forget to tell buyers, especially first-time homebuyers to avoid using their credit card for big purchases.
The reason you want to avoid using your credit card for purchases during the home buying process is the lender is looking at your debt to income ratio at the point of your application. If a buyer goes ahead and purchases their furniture on their credit card this changes that ratio and could disqualify them from getting a loan.
A lot of first-time homebuyers aren’t aware of this but that’s okay, that is why we are here to help. We have a free report of the “don’s and don’ts” during the loan process and we’d be happy to share it with you. Just click on this link below and fill in your information and we will get that report over to you as soon as possible.
Thanks for watching my video on things to avoid when buying a home. For information on our listings in the Saint Cloud, Harmony, Lake Nona, and the Central Florida area give us a call today. We would be happy to assist you!
