We have more tips for you as to how you can decrease your costs when purchasing a new home! We love that some of you even contacted us with what you did to prepare for purchasing a new one. Please keep the communication coming in – we love hearing form you.
Last week, we reminded you of the important of shopping around for your mortgage and negotiating any fees that are involved in purchasing a new home.
Some of you may not be aware, but there are some options out there that give home buyers assistance with either their down payment, closing cost, or something even both! Every state has different options available. We would recommend you ask either your loan officer or who you are working with as a realtor for a list of options that may be available in your state.
Although this may be common sense, we want to make sure we do not forget to at least mention it! Improving your credit score can help you to get a lower mortgage rate when applying for a mortgage. As soon as you have the idea in your head that you want to purchase a new home, or even before it, start working on improving your credit! This does not have to be something that is difficult or scary to do. To start, begin paying any debts off that you may have. If you have any accounts with overdue or late payments, we would recommend you get those settled and taken care of right away as well.
Purchasing a home that may need some improvements or needs to be fixed will help you purchase a new home easily, too. These types of homes will be less expensive than other homes. Although you will need to put money into getting the house fixed, if you are a hand person or have handy people in your family, this will not be an issue.
Something else to keep in mind is that the cost of homes is seasonal. During the spring and summer time, homes are usually more expensive. If you can wait, try to wait until the winter to purchase a home. December, statistically speaking, is the best month to purchase a new home.
We would love to help you on a more personal level, or point you in the right direction of someone else who can! Purchasing a new home is a very exciting time.