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This Old House - Do-it-Yourself

Home Shopping: 4 Useful Tips for Families in the Market

Written by Posted On Tuesday, 13 February 2018 18:22

When you want to buy a new home for your family, there are several things to consider first. A house is one of your most important investments, and you will also want to live in a home that makes you happy. Selecting the wrong house for your family’s needs can lead to stress for everyone, so it is essential to make the correct choice.

Get Your Personal Credit Report

It is vital to get your personal credit report from each of the credit bureaus. When you are reading your credit reports, you may notice errors that can make it difficult to buy a home. However, you can contact the credit bureaus to request changes to the personal credit reports. Begin this process as early as possible because it can take several months for the credit bureaus to remove errors from your account.

Hire a Real Estate Agent

Hiring a reputable real estate agent is recommended when you are buying a home. Real estate agents understand the different legalities in your geographic area so that you aren’t making any mistakes while making a home purchase. You should call several real estate agents to have interviews to learn how well you can communicate with a particular person.

Visit Your Bank or Credit Union to Apply for a Mortgage

After making corrections to your credit report, you are ready to apply for a mortgage. The best place to begin applying is at your own bank or credit union. Therefore, you should call the mortgage loan specialist to make an appointment. A mortgage loan specialist will tell you what your credit score is, but they will also tell you what type of mortgages you qualify for when you want to buy a new home. Take notes to keep track of what you are told. Also, make sure to contact other credit unions or banks for better mortgage offers.

Research Neighborhoods for the Best Home Location

While talking to bank and credit union managers, you should research neighborhoods to decide where you want to live. You may want to live near your workplace or your children’s schools, but additional things to think about are the crime and property tax rates. If you see any signs outside of the homes in the neighborhoods that you like, then write down the address to contact the homeowner.

During this entire process, it is important to prepare your current home to sell it as fast as possible. You will want to sell your own home while you are looking for a new home. Clean your home’s exterior and interior along with making repairs so that buyers are interested in making an offer.

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Rachelle Wilber

Rachelle Wilber is a former real estate agent now turned freelance writer that specializes in home realty, mortgage, and building. She graduated from San Diego State University with her Bachelor's Degree in Journalism and Media Studies.

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