There are a lot of people out there that haven’t really purchased a home, or they weren’t really involved with the whole buying process the first time around. They ask or email me, “Erick, can you please find us a beautiful home out there, that meets our size requirements, and we can make an offer on it today?” This is, unfortunately, not the best first question people should be asking an agent or themselves.
Unfortunately in our economy today a lot of people started out asking themselves the question first: “What house do I want?” Then they worry about the financing later. Please don’t get me wrong, I always tell people to aim high. But we must build up to that aim. The truth of the matter is to first ask the question, “What type of home can I afford?”
This is the #1 question people should ask themselves today before they go house hunting. That is why most Realtors today will ask if you are pre-approved for a loan. Here is a quick little article about what you need to know about a home mortgage:
4-Steps to attaining a home mortgage – Click here to read
On the link above this article explains ways for attaining a home mortgage. The reason realtors ask this question is simple, can you afford a home loan for the house you are looking at? It is one of the most frustrating things in the world for people to want something and not be able to get it (at least not at that time). It is also very demotivating for people when they find they don’t qualify, because of their credit score or income, for that house they saw days prior. It will waist time, money, and mental anguish for not only yourself, but for the agents who are selling the home and the agents showing you the home.
Slow down a little when you reach that point in life where home ownership is the next step for you and your family. Start the process by getting pre-approved. Then once you know what you qualify for, start looking for homes in that price range. Owning a home is a process in life, it builds up over time. A majority of people didn’t start out in a big home, the built up to it. Don’t rush the process, it may discourage you rather than build you up.