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What Not to Do Right Before Buying a Home
By Kerry Oman | October 1, 2011
There has never been a better time to consider Springville real estate. In addition to a great buyer’s market right now, there are home types to suit just about every lifestyle. From condos and townhouses to single-family homes with big, private yards, the Springville real estate market offers great variety and even better prices.
However, as is the case with any Utah real estate purchase, there are a list of Dos and Don’ts that will make your new home buying experience that much easier. Some of the key things to stay away from include:
- Don’t buy anything on credit. If you’re like most Americans, your new home will be paid for through a combination of a down payment and mortgage financing. That means your credit score matters – and often to the tune of tens of thousands of dollars. If you know that you will be considering a Springville or Mapleton home for sale, avoid buying anything that will increase your debt-to-income ratio. This means cars, vacations, appliances, and other big-ticket items. These can always be bought after all your paperwork goes through.
- Don’t move your money around or change jobs. Just as you don’t want to mess with your credit score in the months leading up to your Utah real estate purchase, you don’t want to make your financial paperwork any more complicated than it already needs to be. This means demonstrating that your money and your potential income are stable—and have been for years. When possible, save the major life upheaval for later. Talk with your potential lender or Kerry Oman if you need more information on how to best adjust your finances before you buy a house.
- Don’t “shop” out of your price range. No matter where you live or what type of residence you want, one thing will always be true: more money will get you a better house. If you look at houses for sale in Springville that are outside your budget (even if it’s just for fun), it will be that much harder to settle for one you can afford. Know your financial limits and stick to them; you will be much happier in the long run by buying a house that doesn’t heap a huge financial strain on your life.
Of course, one of the biggest Don’ts on the list is not to connect with a real estate agent you’re not 100 percent sure of. Your agent is your partner through the whole Springville real estate experience, from searching for the perfect home to getting the lowest possible price, and having one you don’t trust can make what should be an incredible time both difficult and stressful. Kerry Oman is happy to answer any question you might have about buying Utah County homes, and to help you make the choice that is right for you and your family.
Topics: Hobble Creek Canyon Real Estate, Mapleton Homes for Sale, Springville Real Estate, Utah County Real Estate | No Comments »