4 Steps to Take Before Buying a Louisville Home

Deciding on buying a home will be one of the most exciting experiences of your life but, it’s only the first step to taking the road to Buying a Louisville Home

Your first step to homeownership starts now by following these simple tips.

Tip 1 – Establish Your Budget for Buying a Home

Before you apply for a mortgage loan, or even start looking at homes, you should look at your current budget and choose the monthly mortgage payment you can afford.

This step is important because, it’s going to be tempting to go over budget when buying a home and this could ultimately cost you hundreds of dollars more per month.

Tip 2 – View Your Credit Score

Go online and purchase your 3-in-1 credit score to see what the credit bureaus may be reporting about you.

If your credit reports have some negative items on them you may need to start a dispute process and since this can take up to 10 days or longer it’s important to pull your credit reports NOW before you start searching for a mortgage loan.

Tip 3 – Get Pre Approved For a Mortgage Loan

Contact at least 3 lenders and get pre-approved for a mortgage loan.

This step is vital because, it will tell you the exact amount of money you can afford to pay for a home and it will also make your Realtor’s job easier if they have the exact amount for the home that you can afford in their minds when they are searching for homes for you.

Tip 4 – Think about Your Dream Home

Last of all, but most important, think about the dream home that you want to buy.

Where is your ideal neighborhood that you want to live in?

How many bedrooms and bathrooms does your home have?

What amenities are in the home?
What’s nearby?

Establishing this criteria is important because, it will also give your agent a firm foundation to base their home search on so they only show you properties which match your specific criteria.

For more information about homes for sale in Louisville Kentucky, or to view active listings, contact Family Realty today by calling us at (502) 458-4100 or CLICK HERE.