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Steps for Purchasing a Home

August 9, 2020

From searching for a new home to the anticipation and excitement you will experience throughout the process, so much goes into buying a home. If you are in the market for a new home, take a look at these steps for purchasing a home.

  1. Begin your search early – Take a look online or your mobile apps to get an idea of what the homes for sale in Columbus GA market currently looks like. Looking at these homes will help give you an idea of what area you would like to live in as well as what you would like in a home. We recommend creating a “wants” and “must have” list to determine your desires and needs in a home. Take into account your current lifestyle as well as the future. The last thing you want to do is buy a home that you will outgrow quickly.
  2. Get your credit ready – Pull your credit reports to see what your credit looks like. Look for discrepancies that need to be cleared up and corrected. Avoid making late payments or no payments at all. Try to pay off your debts and do not make any large purchases. Your credit score is determined by your debt-to-income ratio. Higher credit scores usually offer better interest rates and financing.
  3. Get pre-approved for a mortgage – Meet with a lender to get pre-approved for a loan. This will give you an idea of how much house you can afford.
  4. Determine your budget – Just because you were pre-approved for a certain amount does not mean you actually have to spend that much. Assess your debts, bills, and what you honestly will be comfortable spending monthly.
  5. Save your money – Now that you know how much house you can afford and are comfortable spending, it is a good idea to save for your down payment. Home buyers usually put down 20 percent or more on their house to lower their loan. You should also save for the closing costs you will incur.
  6. Search and tour homes – Now is the time to search and tour homes. Attend open houses and virtually view homes for sale in Columbus GA. Find the home of your dreams and make an offer!

We hope these steps for purchasing a home will help you get throughout the home buying process. Call Rose Anne Erickson Realty at 706-257-1776 to learn about our available inventory of homes for sale in Columbus GA.

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This post was written by Rose Anne Erickson

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