Follow these three steps before you buy your next home.
Before you purchase your next home, you need to take the following three steps:
1. Connect with a Realtor you know and trust. Buying a home is an emotional rollercoaster, so you need to have someone strong by your side to educate you about the process. Having a Realtor you trust makes a world of difference, so interview more than one to make sure you’ve found the right one.
2. Educate yourself on what’s happening in the market. There’s a lot going on across the market, especially in Florida, and certain parts of town may not be the right fit for you right now when it comes to purchasing power.
“Buying a home is an emotional rollercoaster, so you need to have a strong Realtor by your side.”
3. Get pre-approved. This process is different if you’re an entrepreneur or a W-2 employee. For entrepreneurs, a lender will look at the last two years of your tax returns; I can’t stress the pain that I see in many of my entrepreneurial clients when they find out that they won’t be qualified for the amount they wish because their returns reflect a low income. If this is your situation, speak to your tax accountant and lender about what the process should look like and come up with a game plan. For W-2 employees, it’s a bit simpler, but it all still boils down to your tax returns. You also can’t be on unemployment if you want to get pre-approved, unfortunately.
If you have any questions, feel free to reach out to us. We’re here to help.
