Did you set a goal for the new decade? If so, you’re not alone. Believe it or not, up to 60% of Americans make resolutions each January, but only a measly 8% stick with them. Buying a home is a pretty big goal to set for 2020, but it is achievable—especially if you follow our 12 tips!
Make a Plan
One of the biggest reasons why people drop their resolutions is because they aren’t specific enough. When it comes to buying a home, set certain milestones for yourself so you can stay accountable. Potential goals include contributing to your savings, packing up room by room, or making a wants and needs list for your new place.
Start Saving
Many buyers struggle with saving for a down payment, but it’s actually easier than you might think. If you need help saving up, try cutting out unnecessary expenses and opening a new savings account. If you contribute a set amount over time, you’ll end up with a pretty hefty chunk of change. Remember—consistency is key!
Find an Agent
Finding the right buyer’s agent is kind of like dating. It’s crucial to shop around for “the one” before settling on the right choice. After all, when you’re dealing with one of your biggest investments, you’ll want to have a top-notch team with you at the negotiating table!
Don’t Neglect Your Current Home
If you’re not a first-time buyer, you probably have a house to list before making another move. Selling a home is a unique process that often requires the help of a real estate expert, and we have plenty of resources to make it easy.
Do Your Research
There’s a lot that goes into buying a home, so be sure to hit the books (or the web) to get educated. If you’re looking for resources, don’t miss out on our buyer’s guide—it’s the best way to learn more about the San Francisco housing market!
Find Your Niche
Even if you’ve settled on living in San Francisco, you’ll want to narrow down your search to a few neighborhoods before you start touring homes. What kind of lifestyle do you want to live? If you’re not sure, your agent will be happy to help.
Eliminate Debt
It’s normal to take on a little bit of debt, especially if you have student loans or a car payment. However, you’ll want to eliminate as much debt as possible before buying a home. Don’t forget to pay off all credit cards and shrink your payments as much as possible before applying for a mortgage. Remember—taking on another loan is a huge commitment!
Get Preapproved
Your preapproval letter is your ticket to begin the home-buying process, and many agents won’t show you homes without it. This important document means you’ve been approved for a certain amount of money by your mortgage lender. Our all-in-one mortgage guide can help guide you in the right direction if you have any questions.
Research Programs in Your Area
California has a wide variety of buyer assistance programs, especially if you’re looking to invest in your first home. Not sure if you qualify? Take some time to research your options on the Department of Housing and Urban Development’s website.
Choose the Right Type of Home
Condo, townhouse, duplex, or conventional house: which one is right for you? There are endless types of homes in the San Francisco area to choose from, so it’s best to narrow down your search as much as possible. If you don’t know what you want, your agent can show you a variety of properties that may suit your needs.
Set a Budget
This is perhaps the most important part of the buying process. Setting a budget will define your entire home search, so you’ll want to have all your finances in order ahead of time. Not sure where to start? Just try out our mortgage calculator.
Attend Open Houses
Our last point might be a controversial one, especially for agents—but attending open houses can have some surprising benefits. Although most buyers don’t make an offer at an open house, it can be a stellar way to scope out a neighborhood and reevaluate what you want and need in a home.
Need Help Buying a Home?
If you’re thinking about buying a home in 2020, we’d love to help make the process easier than you ever imagined. Amore Real Estate has the tools you need to navigate the San Francisco real estate market, and we’re only a phone call away.