8 Things to Do Before Buying a Home in Sacramento
Buying a home is an intense process, especially so for first-timers. In some areas of Sacramento County there is competition for homes on the market. They can get snatched up quickly, so being prepared is prudent. In the El Dorado County areas, homes tend to take a little longer to sell, again, depending on the area. Being prepared in any market environment is a great strategy. The fall and winter Real Estate Market can be a great time to buy or sell. So, I’ve compiled a list of 8 things to do before buying a home.
- Make a List of What You Want – What are your “must haves” in a home, now and for the future? A wish list will get it straight in your mind, but also help an agent find homes best suited to your needs. Plus, it forces you to plan for your family’s future needs as well.
- Get Your Documents Together – Here are a few of the documents you will need to provide your Lender:
- Check stubs
- W2’s for the last two years and tax returns.
- Bank statements, usually about two months’ worth.
- And more…
If you are planning to buy a home and don’t know where these are, I suggest you locate them immediately. Then put them where you can access them quickly.
- Maximize Your Credit Score – Your credit score will weigh heavily on your ability to get a loan and get the best rates. Check it and make sure you have done everything possible to get it as high as you can. You can opt to have a credit company such as Blue Water Credit in Roseville, CA, take a look to see if there are ways to improve your score quickly.
- Get Your Mortgage Preapproval – A preapproval will let you know how much home you can afford. Depending upon your finances and credit score, you may also qualify for an FHA loan at 3.5% or Down Payment Assistance programs. In high demand markets, such as the Folsom Real Estate market, it will give you a strong advantage to have a preapproval when you make an offer.
- Do Neighborhood Research – Before you make an appointment to start seeing homes, make sure you research the neighborhoods you are interested in. Park in the neighborhood and just listen at different times of the day. And perhaps on different days as well! You may not hear that freeway noise on a Saturday afternoon, but at 5pm on a Tuesday, it is noticeable.
- Budget for Not-So-Hidden Fees – Ask your lender what fees and expenses you will encounter during the process, such as paying for an appraisal, home inspection, etc… and budget for those expenses.
- Stay Organized – You will need to have quick access to your documents and files. The quicker you respond to your Lender requests, the quicker you can be in your home.
- Hire a Realtor – Your lender may have agents they can refer, but make sure you really take some time in finding the right realtor that will represent you and understand your needs.
I hope these tips will help ease the process for your home buying experience. Buying a home doesn’t have to be stressful. It should be so, so worth it. Stay organized. Stay calm. If things don’t go your way, just remember why you wanted to buy a home in the first place. We get it. Give us a call, we can help. Thanks for joining me this week. Have a great day.