It is never too early to start planning your home purchase! Whether you are a first-time homebuyer who needs more guidance or you’re a seasoned buyer who is comfortable with the buying process, here are some key notes to keep in mind:
Financing
- How much money do you have for a downpayment?
- Where is the money located (domestic/international, stocks, RSU income)?
- Is your credit strong enough?
- Can you postpone any major purchases (like buying a car) until after you close on your home?
- If you are buying a home with financial assistance, how much money will you be receiving and where is it coming from such as gift funds from family?
Connect with a Lender
- Connecting with a lender is a smart idea, no matter how far off buying a home may be for you. A lender can do an analysis of your finances and help you identify if there is anything you should work on to improve your home buying power. This might include paying down debt, improving your credit score, and understanding how much home you will be able to afford. We cannot stress this enough. Do it early and it will make everything so much easier in the long run.
Neighborhood Try-On
- You can start neighborhood explorations anytime, and the sooner, the better! In our experience, it’s not uncommon for a buyer to start out with a specific neighborhood in mind, and end up wanting to buy a home in a completely different neighborhood!
- Avoid pigeon holing yourself into one area just because you don’t know much about other neighborhoods. It’s easy to do what’s comfortable, but your perfect home and lifestyle may be waiting in another neighborhood
- We’re ready to share our local knowledge about neighborhoods and go on this adventure together.
- Learn how to pick the right neighborhood for you in our blog post “Try Before You Buy: How to Pick the Right Neighborhood for You.”
Reach Out to Us Anytime!
We are always happy to be a resource for you, whether you plan to buy soon or you’re a few years out from making a move. Some people reach out a year in advance of wanting to buy a home; first-time homebuyers often have more questions and need more guidance. At the same time, some buyers come to us and are ready to play ball! Most commonly, however, buyers will reach out to us about 1-3 months before they’re ready to buy.
Feel free to get in touch anytime! We’re here to answer any questions you might have, and we’d also love to send you our Society Northwest Buyer’s Guide.