In my last blog post, I shared a few reasons Why You Should Buy a Metro Atlanta Home in 2018 and if you’re serious about your goals of the new year, it’s time you set a few resolutions to help you achieve them! From setting a budget (and sticking to it!) to home shopping with your long-term plan in mind, I’ve included below the five key new year’s resolutions you should make as a homebuyer in Metro Atlanta:
Set a budget
Before you can even begin to shop for homes in Atlanta, you need to set a budget— and most important of all, stick to it! Sit down and write out your expenses, taking care to identify where you can cut monthly purchases, perhaps your cable subscription or a pricey gym membership. Determine how much you can allot to categories like clothing, entertainment, and factor in all of your necessities like utilities and loans. Use a budget app to help you stay on track, post the outline on your refrigerator, or keep a note on your phone. You may even find this helps you save for a down payment much faster than simply moving money to your savings when the thought crosses your mind!
Shop with a purpose
Sure it’s fun to browse available homes in Alpharetta, Brookhaven, Buckhead, Dunwoody, Roswell, and Sandy Springs, but it’s also essential that you shop with intention. If you no longer want to rent or you need a home with more space, make sure the properties you’re considering actually meet your needs. Don’t buy just to buy because you feel a sense of urgency due to the market. The last thing you want to do is end up with buyer’s remorse!
Shop for the long run
As I mentioned above, it’s important to shop for homes with your long-term plan in mind. Assume that you will stay in your Metro Atlanta home for at least five years. Even if you don’t need that second or third bathroom right now, or a large backyard isn’t necessary for the time being, consider where you might be in just a few years time. Do you plan to grow your family? Welcome any pets? Take that into account now as you begin to shop for properties.
Boost your credit score
This new year’s resolution is one that can significantly increase your chances of being approved for a mortgage in 2018. Make a plan to pay down high interest debts, like student loans or auto loans, and be careful to pay all of your monthly bills on time. Not only does this help to boost your score, but it will show lenders that you are able to manage payments well and pay your debts on time.
Wait to change jobs
The new year may stir up a desire to change jobs, but you will want to hold off until after you buy a home, if you can! Employment history and income are two areas that lenders will take into consideration when determining if you are eligible to take on a mortgage and purchase a home in Metro Atlanta. They will want to see at least two years of steady employment, but don’t worry if you have just changed positions or plan to in the near future, you will simply need to provide additional documentation.
Heineck & Company at Keller Williams Realty
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