The start of the New Year signifies a fresh start – the perfect time to set and achieve new goals. If one of your goals is to become a homeowner in 2019, there’s no better time than now to prepare. Follow these five resolutions to begin your homeownership journey and make this your best year ever.

BUILD + MONITOR YOUR CREDIT.

If you want to buy a home, knowing your credit score is a good place to start. If your credit could use some improving, take time to build it. Make sure you’re making payments on time and not racking up more debt. A new car or big screen TV may be tempting, but any new charges can affect the interest rate(s) and amount you qualify for.

GET PREQUALIFIED.

Prequalification helps you understand how much house you can afford. It also outlines your loan options and puts you in a great position with sellers, who often prefer prequalifed buyers. An added bonus? It isn’t a lengthy process and will save you time if you only look at homes within your prequalifed budget.

SAVE + BUDGET YOUR MONEY.

Saving and budgeting go hand in hand. If you don’t know where to begin, start by creating a budget. Make a list of all your bills and expenses to determine how much you can put aside. Think about extra expenses you can do without (dining out every night, subscription services, etc.) and allocate those funds to your savings account. Once you’re prequalified, include your potential mortgage payment in your budget, to help you prepare for the costs ahead.

DO YOUR RESEARCH.

Before you buy your dream home, look into getting a home warranty. Making a down payment and paying closing costs can put a big dent in your savings, which could put you in a tough spot if your home requires any major repairs in the future. A home warranty can cover major repairs, so it’s important to do your research and read the fine print.

If buying a home is one New Year’s resolution you plan to keep, these five tips will get you off to a great start! Happy House-Hunting! Contact us to learn more!