4 Things You Should Know Before Buying a Home
Are you ready to make that major life decision and buy a home in the San Antonio area? The process isn’t always simple.
Here are four things that are good to know before you start house hunting.
1. You need to have good credit.
How much debt you have, what kind of debt you have, how timely you are about making payments–all of this stuff comes under close scrutiny when you want to buy a house. Some lenders have more flexible standards than others, but you should know that having great credit is usually more important than having a large deposit when it comes to applying for a loan.
2. You should shop for a house you can afford.
Be realistic and let your current income be the determining factor for your budget. Look at your annual income and multiply that times three. The resulting figure represents a rough guide of the house price and loan you can afford.
3. The deposit doesn’t have to be that big…but it helps!
Most of the time, there is no need for a 20% deposit upfront when buying a house. Keep in mind, however, that having more cash for the deposit in-hand could sway a seller in your favor.
4. Your real estate agent is your new best friend.
Let your San Antonio real estate agent know exactly what you’re looking for in a home, what you can afford, and what your financial situation is. There’s no need to hold back. When your real estate agent knows all the details of your situation, they’ll know even better than you what kind of property to look out for.
Contact Jadestone Real Estate to begin your house hunting!
Posted on Behalf of Jadestone Real Estate