One of the best things you can do to ensure you get the home you want is to arrange for financing before you go shopping. This is often referred to as getting “pre-approved”.
Getting pre-approved simply means that your lender has calculated how much of a mortgage they’re willing to offer you, depending on your down payment and current financial situation.
There are two advantages to having a pre-approved mortgage. First, you know exactly what you can afford when shopping for a new home. Second, when you make an offer, you’re likely to be taken more seriously.
You find a beautiful home available on the market, but you’re not so sure about the location. Does it really matter all that much? Yes, it does. That’s why you’ll often hear real estate professionals say, “Location, location, location.”
The location of a home you’re considering buying will affect you in two ways.
First, it will affect the property’s future resale value, especially if the area is becoming less desirable.
Second, it will affect your lifestyle. If the area doesn’t have the features you want – nearby schools and playgrounds, walking trails, proximity to activities that interest you, such as golf or restaurants – you probably won’t enjoy living there.
A good real estate professional will help you find the right home in the best location for you.