New Year, New Home

We’re sharing four tips on how to make a new home in 2020 a reality for you. 

Buying a new home is a very common New Year’s Resolution, especially among prospective first-time buyers. There are a lot of things you can do right now at the start of the new year to prepare yourself for this life-changing purchase.

One of the things we always tell people is to make sure you don’t overspend during or right after the holidays; the more debt you bring with you into the home buying process, the harder it will be for you to qualify for a loan.

If you bought a lot of holiday gifts out there, hopefully you didn’t throw them all onto credit cards. All the “no interest financing” rhetoric from furniture and car salespeople around the holidays is great, but those big purchases will still count against your debt-to-income ratio. 





Start looking at what the market has to offer now instead of waiting until later. 


If buying a home this year is truly a priority for you, avoid other big-ticket items like cars and expensive furniture sets until after you buy a home. Even if you don’t have payments on those items for six months, they’ll still be factored against you by mortgage lenders.

Here’s another tip: Get your financials and taxes in order so you can take advantage of deductibles and ensure you’ll still qualify for loans.

Start talking to a real estate agent now; they’ll be able to help you find a great home in a location you like—all in a timely manner. If you and an agent create a plan early, you’ll be able to jump on the new inventory that’s coming in spring.

To all those who are already qualified for a home loan: Start looking at what the market has to offer now instead of waiting until later. Don’t wait just for waiting’s sake; maybe you’ll find something great and get that resolution taken care of early in 2020.

 If you have any questions about this or any other real estate topic, or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.