Buying a home is serious business and, for many, a life-changing event. Because it is so personal, it can be incredibly difficult to leave your emotions at the door when you start the process. However, to minimize the risk of making a decision you might regret, it’s important to ground your search in logic.
Here are a few practical tips to help you navigate the 2016 market with confidence.
1. The Financial Reality Check
Before looking at houses, look at your numbers. You need a clear picture of three things:
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Savings: How much do you have set aside for a down payment and closing costs?
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Credit Health: You can obtain your credit score online for free once a year. Knowing this number early prevents surprises later.
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Monthly Budget: What is a comfortable monthly figure for your housing expenses?
2. The Value of Face-to-Face Banking
While 2016 offers many online mortgage tools, I highly recommend a face-to-face meeting with a local bank or mortgage broker. A local professional can help you get pre-qualified or pre-approved while identifying potential hurdles that an automated online system might miss. Knowing what you can afford doesn't mean you must spend that much—it simply defines your boundaries.
3. Needs vs. Wants: Narrowing Your Focus
It’s easy to get distracted by a beautiful kitchen, but does the house actually meet your basic requirements? Make a list of your needs, not just your wants:
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Space & Layout: How many bedrooms and bathrooms are essential?
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Location: Which neighborhood or school district is the right fit for your long-term plans?
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Commute: Will the travel distance to work be sustainable?
4. Start Your Digital Search
Once your criteria are set, start your search on a reliable Realtor site or search engine. In 2016, you have access to almost all area listings online. Use this phase to identify properties that check your "needs" boxes before you head out for tours.
5. Partner with a Local Expert
After you’ve selected some homes of interest, the final step is to find a professional Realtor who lives and works in that specific area. You want an agent who can represent you, provide local context, and guide you through the complexities of the closing process.
The Bottom Line
By taking these practical steps, you allow yourself to stay objective. If you can keep your emotions in check until the day of the closing, you’ll find that the journey to your new home is far less stressful and much more rewarding.
