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  • Writer's pictureSarah McKee

Your Most Important Step Toward Buying A Home This Fall

Amid the rush of back-to-school hustle, BBQs, and end of summer vacations, the idea of buying a house might seem distant. Yet, if a fall move is on your radar, acting swiftly is key. By laying the groundwork today, you'll be poised to seize opportunities as the leaves change hues. If you do just one thing to get ready to buy a house this fall, it should be sorting out your finances — and figuring out what you can afford.

The Finance Focus: A Vital First Step

Real estate wisdom underscores the significance of interest rates, which recently climbed in July. Predicting their decline is uncertain, casting a "maybe this fall, maybe next year" shadow as home prices climb. With rates affecting your monthly mortgage, assessing your viable budget is key. Working with a mortgage expert to nail down your monthly capacity will provide clarity and curbing new debt, repaying existing balances promptly, and approaching big purchases like cars or credit cards will help preserve the lending process.

Essential Action Steps

1) Secure Mortgage Pre-approval: Ready your financial documents, engaging a lender to provide a pre-approval before looking at homes is a must. An offer that does not include proof of funds is unlikely to be seriously considered by sellers.

2) Streamline Belongings: If a property sale is in the cards, declutter and organize in advance. It’s never too early to start the pack and purge!

3) Align with Partners: For co-buyers, clear communication is paramount to an efficient and low-stress buying process. Define priorities, compromises, and must-haves to streamline your search.

Prepare Your Down Payment: Aggressively save, save, save or ensure access to liquid assets so funds can be easily available.

Welcome the fall season by embarking on your journey towards a new home. By addressing finances now, you're primed to harness market dynamics. If you’re ready to start your search, I’m here to help and connect you with a great lender to get you ready. Your dream home is waiting – let's make it yours before the leaves hit the ground!

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