Home Buying Checklist

Here is a checklist for you to get ready to become a homeowner.

  1. Check/fix your credit ( score should be somewhere bewtween 580-680, the higherthe better)
  2. Typically unless you are going through a VA loan you will have additional cost and you should expect to have set aside anywhere from $15,000 – $25,000 or more depending on what size home you are looking for.
    1. Decide on the size and location of where you would like to live. Search to see what the prices are for the current homes on the market. Then make sure you have your deposit set aside. This should be between 3-3.5% of the loaned amount.
    2. Inspections including but not limited to structural & mechancial, wood boring (termites), radon, mold fire place, lead, water (for wells) and/or septic. You would be responsible for the cost of these inspections.
    3. Appraisals would also be your responsibility.
    4. You will also need money to cover the closing costs which could be between $5-$10,000 or more.
  3. Get a pre-approval from your bank.
  4. Let us know when you are ready to start viewing homes.
  5. If you are planning on liquidating any cash assets please be sure to do so at least one week before putting in any offers on a home.
  6. DONOT OPEN ANY NEW CREDIT CARDS, PURCHASE VEHICLES ETC UNTIL AFTER YOU CLOSE ON YOUR HOME AND RECEIVE THE KEYS. Adding any new financial responsibilty before your receive the keys to your new home could prevent you from becoming a homeowner.

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