Regardless of what people may say about our current economic status, buying a home in Boise is still a sound financial investment. In fact, many people believe that now is the best time to make a purchase.
If you’ve been growing tired of renting and are ready to take ownership, but don’t exactly know where to begin, here are some home buying tips that could help the experience go pleasantly and smoothly.
- Save up for the down payment. You could potentially lower your monthly payments with a bigger down payment, so try to put down as much as possible.
- While you’re saving, order your credit report and be prepared to fix, or appeal discrepancies.
- If you have blotches on your credit report, contact the lenders and try to settle. Many lenders are willing to settle for alarmingly low amounts.
- Carefully consider your budget and your income – mortgage payments that are more than 1/3 or approximately 30% of your income could cause undue strain on your finances. So take that into account when considering your price range.
- Find a lender and get a pre-approval, if possible.
- Make a list of the features and amenities you’d like your new home to have. Write down how many bedrooms, appliances, yard size, landscaping or views.
- Make a list of your desired areas and the conveniences you’d like to live near. Do you want to live close to major shopping areas? Live in the quiet country?
- Find an experienced real estate agent to help you find the right home. Disclose your price range, list of features, and desired locales.
- Take your time to view each home. Take notes and photos to help you remember what you liked or disliked about each one.
- Make an offer that coincides with the market value and condition of the home.
- Get an inspection by a certified inspector.
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