Tips for first time Home Buyer’s
Some tips for perspective home buyers from Dean Graziosi.
1) Probably the most important tip Dean Graziosi can give perspective home buyers is before you start shopping for a home/investment, make sure you know what’s on your credit report. Most people don’t realize that your credit report can contain an array of errors. And it’s your responsibility to clean them up. You’re entitled to one FREE credit report per year. It’s worth the time to request your credit report and make sure it’s in perfect order.
2) After you’ve checked your credit report, it’s important to become pre-approved so you can shop with no worries. Your pre-approval will give you the amount the bank is willing to loan you and you can shop for a piece of property in your price range.
3) Once you start looking, make sure you’re patient. Finding the home that’s just right for you can take some time. You don’t need to buy a home for the amount you’re approved for especially with today’s real estate market becoming more of a buyer’s market. It’s important to be able to afford the house you buy.
4) Dean Graziosi suggests that you don’t use all of your savings to make that home buy. Seek out a strong mortgage professional who can find the right program for your budget and make sure you don’t use all the money you’ve saved. When you move into your new home, you’ll want some cash in case you need to do repairs or upgrades.
5) If you’re a first time home buyer or haven’t owned a place in several years, you can qualify for programs that are geared for first time home buyers. Once again, make sure your mortgage professional has provided you with all of your buying options including those first time home owner programs.