Planning for a Purchase

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Finances

Evaluate your budget - know what you want to spend for a downpayment as well as monthly expenditures. Obtain mortgage pre-approval.

Life Styles

Prioritize your needs – location, space, schools, shopping, conveniences and amenities.

Neighborhoods

Explore various neighborhoods.

Timing

Identify your timeline for moving. Contact a mover, utility companies, etc.

Know Your Purchasing Power

There are two types of costs incurred when buying a home. Monies needed for the initial purchase. (Down payment, inspection fees, taxes and attorney or administrative fees). And Ongoing costs of mortgage payments, insurance, and property taxes. Lenders assess the ability to purchase by using formulas to determine payment capabilities. You can determine what you can afford before you begin the purchase process. Knowing what you can afford will help ensure that you are looking at homes in your price range and that you can make an offer, when you find your dream home. To estimate the price range you can afford, determine the amount of money you have available for a down payment.