Whether you have been renting for a while and are ready to buy your first home or are planning to sell your house in 2021, there are a few things that will help you get ready.
- Start decluttering. Don’t wait until the last minute to get rid of all the things you don’t need. If you start decluttering a few months ahead, moving will be much easier. Plus, you can make some extra bucks selling unwanted things on Ebay or Facebook marketplace. Set yourself a weekly goal. For example, the first week starts with the kitchen. Declutter two or three drawers per day. Then the laundry, the bathrooms and leave the big rooms for last. It’s amazing how great a decluttered space feels.
- Interview Real Estate Agents. I will gladly take you through the steps of buying a home in Tampa, Florida. You must feel comfortable asking questions to the agent you choose. The real estate agent will guide you through the process of purchasing your property. Contact me.
- Save up cash. Even if you plan on financing your new home, it’s important to have cash for the closing costs and downpayment. I suggest saving for at least a 20% downpayment. That way you will save money on PMI (Private Mortgage Insurance).
- Meet with the lender. I suggest that you do this after meeting with your real estate agent unless you are familiar with the process of buying a home and already have a Mortgage Broker that you trust.
- Get your credit score up. If you plan on financing your new home, the higher your credit score (740+), the better chances you have to get a lower interest rate and to get approved for a loan. This doesn’t mean that you should open or close credit cards! Talk to a financial adviser or a lender to find out ways of improving your credit score before you make a move.