This is the second post in our New Years resolution series, but it doesn’t matter if you’re reading this in January or April. If you’re thinking about buying a property in the relatively near future, these steps will set you on the right path.

1. Seek professional help! (PSSST! That means talk to a REALTOR® early in the process). Before you even step foot in properties that you would like to look at, engaging an agent early in the process can make the next steps much easier! (Book an appointment here.) Great! You’ve already completed resolution #1 and you’re that much closer to home ownership!
2. Make a list of what you’re looking for in a home: Before you start looking, make a list of the features you’re looking for in a home, such as the number of bedrooms and bathrooms, location, and size of the yard. As your agents, we’ll chat with you about what types of properties you’re interested in, and what types of properties, zoning, and restrictions exist in our area. Then, we can connect you with mortgage professionals to help determine your budget, which determines your down payment.
3. Meet with a mortgage professional. They can help you determine how much you can qualify for, what monthly payments you’ll be comfortable with, and how much you need to save for a down payment.
4. Start saving for a down payment: A down payment is typically one of the biggest expenses when buying a home and it can be the greatest hurdle to overcome. Making a resolution to put aside money on a regular basis (Weekly? Monthly?) can help you reach your goals quicker.
5. Improve your credit score. If you’re part of a couple and both of you will be on the mortgage, this is a resolution for two! You can help each other. Stay tuned for our next post which is all about improving your credit. I (Stef) hate talking about money – but with the right partner, you can overcome these credit and money fears and really grow this year! It’s a great New Year’s Resolution!
6. Get pre-approved for a mortgage. Now that you’ve worked on your credit and saved for your down payment, it’s time to get pre-approved. You may be interested in a pre-sale property and your mortgage professional may be able to help with rate holds, etc. while you continue to save for your home.
7. Start looking at homes with your real estate agent: Once you’ve saved for a down payment, improved your credit score, and gotten pre-approved for a mortgage, you can start looking at homes that fit your budget and needs.

We hope these 7 steps are helpful in setting you on your path to home ownership! Happy New Year!