Buying a home together is something that many partners dream of doing. But how far along are you on the path to buying your dream home? Here are some of the steps that need to come first.
Have You Started Saving Together?
It's likely that, as two adults who want to buy a home, you have each started putting some money away towards that goal. But, just to make sure you're on the same page, discuss how much you're each putting aside from each paycheck, and make sure that you're both comfortable with the amounts. Speak with a financial planner about how long you will realistically need to continue at your current pace before having the money to make a down payment.
Have You Made Maximum Improvements to Your Credit?
When you're in the final stretch of getting ready to buy a home, also take some time to ensure that you've done all you can to improve your credit. That means consolidating existing debts, making consistent payments on credit cards in the six months prior to soliciting mortgage quotes, and checking your credit to dispute any negative information that appears.
Have You Consulted a Mortgage Company?
It may take some months to research the best loan opportunities. Of course, soliciting quotes from several different mortgage companies you've researched will get you started on the right foot with a manageable loan.
Have You Joined Your Visions of the Perfect Home?
When you think you're almost ready to buy a home, it's time to sit down with your partner and discuss what you both want and need out of a home. Hopefully, many of the items are similar. But there may be some points that you need to negotiate in order to keep the scope of properties you're looking at wide. If you try to incorporate every single detail, you could end up looking for a needle in a haystack. It's a smart strategy to whittle your list down to the essential joint criteria that you wouldn't consider buying a house without.
Have You Consulted a Real Estate Agent?
Your very last step before being ready to buy a home is to consult a real estate agent who can answer any final questions you have about the process. Going with a knowledgeable real estate agent will save you a lot of time looking for houses for sale that are a good fit; your real estate agent can also advise you as to whether a property is a good investment or not.