Prep Now to Buy a Home Later This Year

Buying a home doesn’t happen overnight—it takes planning, preparation, and patience. The more you do now, the smoother your buying journey will be when the right home hits the market.

Think of this stage as “home-buying homework.” By organizing your finances, exploring neighborhoods, and learning the process, you’ll be ready to make confident moves later this year.

Here’s how to get started:

Do Your Homework:

Learn About Mortgages – Not all loans are the same. Take time to understand the basics—fixed vs. adjustable rates, FHA vs. conventional, VA loans, and how interest rates affect monthly payments. Knowing your options now prevents stress later.

Explore Neighborhoods & Open Houses - Browsing online is helpful, but walking through homes gives you a better feel for what you truly want. Do you need a big kitchen? A backyard? Open-concept living? Visiting open houses also shows you how far your budget will stretch and helps you narrow your must-haves.

Research Buyer Assistance Programs - Many buyers qualify for programs that make homeownership more affordable—like down payment assistance, low-interest loans, or special programs for first-time buyers and veterans. Don’t assume you won’t qualify; explore what’s available locally.

Get Your Finances in Order - Buying a home is one of the biggest financial commitments you’ll ever make. Preparing now will make you a stronger buyer.

Build Your Credit Score - Your credit score impacts what loans and rates you’ll qualify for. Start improving it now by paying bills on time, avoiding new debt, and checking for errors. If you’re buying with a partner, both scores matter.

Know Your Budget - Don’t just go by what a lender says you “can” afford. Focus on what you want to pay each month. As a rule of thumb, every $10,000 in home price equals about $65–$70 in your monthly payment. Work backward from your comfort zone to find your realistic price range.

Save for Your Down Payment & Reserves - Whether you put 3% down or 20%, lenders want to see cash reserves. Save for more than just the down payment—factor in closing costs, taxes, insurance, and maintenance. A high-yield savings account can help you grow your funds.

One clever trick: “play house” by living on your future mortgage payment now. It’s a great way to test-drive your budget and boost your savings at the same time.

The 10 Commandments of Homebuying - When you’re preparing to buy, avoid these common pitfalls that can jeopardize your mortgage approval:

1. Don’t change jobs, quit, or become self-employed.
2. Don’t buy a new car (or you may be living in it!).
3. Don’t rack up credit card debt.
4. Don’t spend money set aside for closing.
5. Don’t leave debts off your loan application.
6. Don’t finance big purchases like furniture.
7. Don’t apply for new credit.
8. Don’t make unexplained large deposits.
9. Don’t switch bank accounts.
10. Don’t co-sign a loan for anyone.

Ready to Buy with Confidence? - If buying a home is on your radar this year, start preparing now. The more proactive you are, the more confident and less stressed you’ll be when it’s time to make your move.

I’d love to walk you through your next steps, show you local options, and help you avoid common hurdles. Chances are, I’ve already helped clients overcome the same challenges you might be facing. Let’s connect and create a plan to make your new home happen.