The Most Confusing Housing Market of All Time:

The Four Things Every Person Needs to Do in This Market

1. Know where your finances are.

  • Getting pre-approved is a great way to see exactly where you're at when it comes to buying a home (and it's 100% free).
  • Most people wait until they want to buy a home to get pre-approved, but the earlier you do this, the better.
  • Have all your financial documents ready, such as your tax returns and pay stubs.
  • BONUS: Since you now have all your documents in front of you, put a quick budget together to see where you can improve. (Send me a message if you'd like a template)

I've also included a quick quiz at the bottom of this page that will provide a close assessment of your financial situation, which is a great starting point to get you moving in the right direction.

2. Dial in your credit.

  • Now that you're pre-approved, you should have an official credit report.
  • In a perfect world, we aim to get this to 760 before you buy; however, any improvement from when you first got it pulled is what we're looking for.
  • Ask your loan officer about the steps you can take to improve your credit score. We have plenty of resources to help with this.

3. Start looking at homes (even if you don't want to buy one yet).

  • I know this sounds crazy, but start looking at homes to get a better idea of what you want. You can casually browse homes on Zillow to see what your budget gets you and get an idea of how far your money will go in different locations.
  • You can also visit model homes to feel what different square footages and yard sizes feel like in real life.
  • Bonus: Find a realtor you'd like to work with who doesn't feel like they are going to pressure you into buying. Be clear with your budget and your timeline. (You can always ask your lender for a referral).

4. Be prepared to act quickly.

  • Now that you've got your money lined up and a good idea of what you want, you can act quickly when you see a good opportunity.
  • When opportunities pop up, they can go extremely quickly, and you're now going to be able to capitalize.
  • Stay in touch with your lender and realtor so that you can get numbers and offers put together fast.

No matter what the housing market does, the #1 thing you can do to set yourself up is to be prepared. This way, you can make quick decisions, maintain a strong position, and avoid feeling rushed into a decision. People are more afraid of getting a bad deal than they are motivated to get a good deal. Being prepared ahead of time can reduce fear and lead to clearer decision-making, resulting in better investing.

Bonus: I've also included a quick quiz below to help you assess your financial position. There is no commitment with this, and it will guide you in the right direction, so if you have a few minutes, I encourage you to go through it.

If you have any questions about these, feel free to reach out!