You've crunched the numbers, thought about your lifestyle and made the decision to buy a home. It can be a complicated and stressful process. But knowing what to expect can reduce some of that anxiety and help you confidently find your way to your new home. Below are 6 major steps on how to buy a home.
1. What Do You Want in a House?
You've probably been daydreaming about your ideal home for years, but keep in mind, your needs can change. On average, it takes about five years to build enough equity to offset the costs of buying a home so it's safe to plan for the long-term. Think about how your needs might evolve over time, are you downsizing? Planning for a family? Are you moving to be closer to work? There's no perfect home. Finding the right home is about making the right trade-offs.
2. Credit Score
Before contacting a lender, it's smart to check your credit report. By law, you can get a free report once a year through Annualcreditreport.com. The report pulls data from the three major credit-reporting agencies: Equifax, TransUnion and Experian. Having the information in hand before you talk with a lender lets you dispute any errors in the reporting. The higher your credit score, the lower the interest rate on your mortgage. So what is a good credit score? You can expect a good mortgage rate at anything above 720. Homebuyers who pursue an FHA loan can usually secure a loan if their credit is 580 or over.
3. Get Pre-Approved for Mortgage
Mortgage pre approval should actually occur quite early in the home buying process. Be sure to tell your lender your budget and goals to see if they're realistic. In order to pull your credit history, lenders usually need some paperwork from you. Just because you get preapproval from a lender, doesn't mean you're locked in. Interest rates vary on a lender-to-lender basis, so look around.
4. Get a Real Estate Agent
Most home buyers will want a great real estate agent, specifically a buyer's agent, who will help them find the right houses, negotiate a great real estate deal, and explain all of the nuances of home buying along the way. There is a subtle difference between a real estate agent and a Realtor; the latter is a member of the National Association of Realtors and adheres to a code of ethics. Consider having a Realtor additional insurance that you'll get the help you need to ace the process.
5 House Hunt & Make Offer
Start touring homes in your price range. It might be helpful to take notes on all the homes you visit. You will see a lot of houses! It can be hard to remember everything about them, so you might want to take pictures or video to help you remember each home. Take as much time as you need to find the right home. Then work with your real estate agent to negotiate a fair offer based on the value of comparable homes in the same neighborhood.
Prior to the closing date, the buyer will want to verify with his or her agent, lender, and escrow company that all of the necessary documents have been signed and terms met. If they have not this should be taken care of immediately to ensure that there are no last-minute problems. The buyer will also want to verify what forms of payment are acceptable. On the closing date, closing costs and fees will be paid.
3 Min Read
Thinking of ringing up your ex during these uncertain times? Maybe you want an excuse to contact your ex, or maybe you genuinely feel the need to connect with someone on an emotional level. As a matchmaker and relationship expert, I was surprised at the start of the coronavirus quarantine when friends were telling me that they were contacting their exes! But as social distancing has grown to be more than a short-term situation, we must avoid seeking short-term solutions—and resist the urge to dial an ex.
It stands to reason that you would contact an ex for support. After all, who knows you and your fears better than an ex? This all translates into someone who you think can provide comfort and support. As a matchmaker, I already know that people can spark and ignite relationships virtually that can lead to offline love, but lonely singles didn't necessarily believe this or understand this initially, which drives them straight back to a familiar ex. You only need to tune into Love Is Blind to test this theory or look to Dina Lohan and her virtual boyfriend.
At the start of lockdown, singles were already feeling lonely. There were studies that said as much as 3 out of 4 people were lonely, and that was before lockdown. Singles were worried that dating someone was going to be off limits for a very long time. Now when you factor in a widespread pandemic and the psychological impact that hits when you have to be in isolation and can't see anyone but your takeout delivery person, we end up understanding this urge to contact an ex.
So, what should you do if you are tempted to ring up an old flame? How do you know if it's the wrong thing or the right thing to do in a time like this? Check out a few of my points before deciding on picking up that phone to text, much less call an ex.
Before You Dial The Ex...
First, you need to phone a friend! It's the person that got you through this breakup to begin with. Let them remind you of the good, the bad and the ugly before taking this first step and risk getting sucked back in.
What was the reason for your breakup? As I mentioned before, you could get sucked back in… but that might not be a bad thing. It depends; when you phoned that friend to remind you, did she remind you of good or bad things during the breakup? It's possible that you both just had to take jobs in different cities, and the breakup wasn't due to a problem in the relationship. Have these problems resolved if there were issues?
You want to come from a good place of reflection and not let bad habits make the choice for you.
Depending on the reason for the breakup, set your boundaries for how much contact beforehand. If there was abuse or toxic behaviors in the relationship, don't even go there. You can't afford to repeat this relationship again.
If you know you shouldn't be contacting this ex but feel lonely, set up a support system ahead of time. Set up activities or things to fall back on to resist the urge. Maybe you phone a different friend, join a virtual happy hour for singles, or binge watch Netflix. Anything else is acceptable, but don't phone that ex.
Write down your reasons for wanting to contact the ex. Ask yourself if this is worth the pain. Are you flea-bagging again, or is there a friendship to be had, which will provide you with genuine comfort? If it's the latter, it's okay to go there. If it's an excuse to go back together and make contact, don't.
Decide how far you are willing to take the relationship this time, without it being a rinse and repeat. If you broke up for reasons beyond your control, it's okay. If your ex was a serial cheater, phone a friend instead.
If there was abuse or toxic behaviors in the relationship, don't even go there. You can't afford to repeat this relationship again.
As life returns to a more normal state and you adjust to the new normal, we will slowly begin to notice more balance in our lives. You want to come from a good place of reflection and not let bad habits make the choice for you. Some do's and don'ts for this time would be:
- Do: exercise — taking care of you is important during this time. It's self-care and maintaining a healthy lifestyle.
- Do: shower, brush your teeth, and get out of your sweats.
- Don't: be a couch potato.
- Don't: drink or eat excessively during this time. Again, remember to maintain a healthy lifestyle.
- Do: think positive thoughts everyday and write down the 3 things you are grateful for. Look at the impact of John Krasinksi's SGN. It's uplifting and when you feel good, you won't want to slide backwards.
- Don't: contact a toxic ex. It's a backward move in a moment of uncertainty that could have a long term impact. Why continue flea bagging yourself?