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12 Key Steps for Smarter Home Ownership Decision-Making

Have clarity of what your needs are.

Financialy Speaking

Monitor The Credit Score

Start shopping for a loan when you have a steady FICO Score of 720 at a minimum.

Keep a financial cushion

Preparing For Homeownership Includes Loan Approval.
Get ready for homeownership with a strategic plan to stay focused on the long-term priorities that truly matter.

  • Location, distances from and to key places.
  • Cost and time needed for maintenance and upkeep.
  • The floor plan, back and front yard space, parking needs,
  • Neusns, how much nice are you willing to tolerate for the years to come, traffic.
  • School districts.
  • Walking and biking safety
  • In a seller’s market, there are more buyers than sellers, which causes prices to increase.
  • In a buyer’s market, there are more sellers than buyers, buyers have the power to control prices.
Making Offers To Purchase A Home
Home buyers should have a clear idea of the property they need to focus on the home search.

Escrow acts as a neutral third party to ensure that all conditions of the sale are met before the transaction is finalized. The cost of escrow is usually divided between the buyer and seller, although this can vary based on local customs and negotiation outcomes.

  1. After the deal is sealed, keep in mind that near-future vacations and large gatherings, such as weddings and quinceañeras, as well as other similar expensive celebrations, should be avoided.
  2. Purchasing a new vehicle, unless it’s for business purposes, should also be avoided, along with other luxury expenses, until you are completely acclimated to the new living expenses.