From financing to choosing the right neighborhood, homebuyers can quickly become overwhelmed. At Enchanted Construction Service in Greenville and Spartanburg SC, we enjoy helping new home buyers find their perfect fit. We know how exhausting and confusing the housing market can be. To help you, here are some of our best tips to get you through the process of purchasing a new home.

Be Ready- Jumping into a home mortgage before you are ready can destroy your finances. Make sure you are prepared before you sign up for anything. Homeownership is an incredible investment and a great responsibility, but you need to take some steps before you dive in.

Make sure you have a steady and dependable income.

Have an emergency fund ready.

Make a plan to stay in the home you buy for several years.

Have a healthy credit score to lower payments.

Have enough saved up for a down payment, real estate fees, and closing costs.

Once you have these steps in order, you should be ready to purchase a home.

Set a Budget– Before you fall in love with an individual home, make sure you know what you can afford. You can determine your budget by tracking your expenses and earnings for six months to a year. Watch for periods where your income dips or bills increase. As you see where your money goes, create a budget that includes:

Mortgage Estimates

Utilities Including Cable and Internet

Car Payments

Groceries

Home Insurance

Homeowners Association Fees if Necessary

Medical Costs

Be sure to leave enough room in your budget to also enjoy life. Too many homeowners find a home they love and then go broke trying to afford it.

Know Your Credit Score- If you’re like most homebuyers, you’ll have to finance your new home purchase. Understanding your credit score is a big factor in getting the best financing and rates available. Get a free copy of your credit score and check for any mistakes or issues. If you have a credit score of 760 or above, you’re in great shape. If your credit score falls below 700, you might want to consider taking some time to repair your credit.

Save, Save, Save- With your budget and credit score, you should have an estimate for how much house you can afford. Ideally, you would want to save at least 20% for a healthy down payment. That may sound like a lot but consider how much you’ll save in the future. A larger down payment will give you a lower mortgage that saves you money month after month, leaving you with more money in your pocket.

Shop Around for a Credible Lender- You shouldn’t trust just anyone with your home mortgage loan. Make sure you do your research and find a lender with a good reputation and good standing in the community. You’ll likely be doing business with them for the next several years. Trustworthy home builders can often point you in the right direction as you check out different lending companies.

Location is Everything- No matter how much you spend on a home or how much you put into a house, location is always key. A beautiful house in a lousy neighborhood will lose value over the years. A home that is inconvenient to your work and social activities is just a place to sleep. As you scout locations, consider these features,

Neighborhood amenities, like grocery stores, restaurants, and schools.

Commute time to and from your job, church, favorite parks, and restaurants.

Noise pollution like highways, bars, and ballparks.

Public transportation options if necessary.

Crime rates.

Property tax rates.

Ask for Help- If you’re first-time buyers looking for new homes, things can get confusing quickly. Find experienced home builders to discuss different options and guide you through each step of the process. Home building expertise can be a major asset as you pin down your favorite layout, design options, and locations.

Make a Wish List- There’s no sense in putting a lot of money into a home that you don’t love. Think of all the little things you enjoy like reading, gardening, swimming, exercising, or grilling out. Make a list of must-haves, extras, and dream amenities then work with your favorite builder of new homes to find which options fit your budget.

Research Preapproval Options- As you get your finances in order, speak with financial lenders. Find out what amount you might pre-qualify for and then look further into preapproval. Bring the following documents

with you to your trusted lender.

Research the Area for Future Projects- As you look at new homes and new construction communities, make sure you check for new plans for the area. Purchasing a new home only to find the beautiful view you chose is about to be torn down can totally change your perfect home. Don’t get stuck with new developments or civic buildings you don’t love.

Finding the right options for your customized home can be overwhelming. The experts at Enchanted Construction Service in Spartanburg and Greenville, SC are here to help. Just stop by our office or contact us online.