I will need to buy a home next July/Aug. When can I start and what are the steps involved.?

Asked by Carol Thompson, Hampden, MA Mon Jul 6, 2009

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Territory.c…, Agent, MA,
Mon Jul 6, 2009
Carol, you should begin financially planning for the purchase now. The larger the down payment the better (these days) when it comes to financing and looking like a strong buyer to sellers. You can start perusing open houses and searching online now if you would like just to get a feel for all the different neighborhoods and figure out what money can buy you and where, and get an idea of the different styles, sizes and details you like. However, you dont have to start that process until about 3-4 months in advance of the purchase. Another piece of advice is to get pre-approved prior to this as well so you know what you can afford.

hope that helps!

1 vote
, ,
Mon Jul 6, 2009
Hi Carol
First thing first, get pre-approved. Prior to looking for homes, you should know what you are willing to spend monthly for a mortage. Once you do that, it will give you a better idea of the full value of a home that you can actually afford. Once you get that pre-approval, then its searching for your speacial home.
I would be more then happy to answer any more of your questions regarding financing your home. Please do not hesitate to contact me.
Best of luck.....
1 vote
Scott A. Nel…, , 02155
Mon Jul 6, 2009

Well my advice would be to work with a trusted mortgage professional & real estate professional. Ask friends, family, colleagues for recommendations of professionals they have worked with recently and been happy with. Seek out several to begin the process of researching them, interviewing them and choosing one of each.

You'll need to have an idea of your credit situation and what can be done to improve your rating to make sure you get the most advantageous mortgage plan suited to your needs, with a year to do so you can clear up some issues if any are present. A mortgage professional will work with you to find the best mortgage that will work for your 3,5,10 year plans. You'll want to identify what areas are of interest to you and what your needs and wants are for a property.

Finding the right professionals will be important to making your purchase as stress free as possible. There will be some stress, it's inevitable but the right team of professionals working for you will limit as much as possible for you. Look for good communication skills, level of attentiveness, methods of communication they use and you use. Some buyers want alot of invovement, others less. Ask for their refrences, areas of specialty, experience in the type of property that interests you. Check their refrences, check them with the Better Business Bureau, local chamber of commerce, attorney generals office, office of professional licensure, division of banks, google, yelp etc. When you interview them ask them what other questions they might suggest to ask and how they could aid you in your purchase. Once you've interviewed several you'll be in the best position to make an educated and informed decision and start working with your team of professionals in your purchase. I'd be remiss not to say you should also look into an attorney to further cover your interests, the same process would apply.

Hope that helps & Good Luck
1 vote
Kevin Vitali, Agent, Tewksbury, MA
Wed Aug 19, 2009
It is not to early to start preparing for a purchase a year from now. It is a great time to start your financial planning and getting attuned with the market place.

First of sit down with a mortgage professional to get an idea of what securing a mortgage will cost you and how much of a home you can afford. This is also a good time to pull a credit report to clear up any issues that might be affecting your credit.

Second approach a real estate agent and get set up to receive properties that fit your criteria on a daily basis. At this point, driveby some properties you are interested in, get a feel for neighborhoods and what you like and don't like. Also this is a great time to visit open houses so that you can get a feel of what your money can buy you in terms of a home. Remember if you are truly a year out from buying homes you see today will no longer be on the market.

When you are about 6 months out from purchasing, that is the time to have found a great buyer's agent to work with and start seriously viewing homes. Hopefully you did your homework, picked the right professionals to work with and your transaction should go smoothly.
0 votes
Regina Ryan, , Wilbraham, MA
Mon Jul 6, 2009
Hi Carol
My name is Regina Ryan and I am an agent with Carlson in Wilbraham. It is never to early to start to look knowledge is the key as the others have said your credit and pre-approval are the keys to home ownership. It is important to know that you are the captain of this trip and who ever you contact are working for you to make the trip as smooth and problem free. If you have any question please email me and I will answer them for you and if I don't know the answer I will find out for you.
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