Clarify needs, wants, negotiables, and nonnegotiables before starting a home search. Ask practical questions about length of stay, family growth, willingness to buy a fixer-upper, commute tolerance, and school importance to match home and location to lifestyle. Maintain flexibility about neighborhoods to access better housing costs and options while preserving true deal-breakers. Obtain mortgage preapproval early to understand affordability, avoid disappointment, and strengthen comparisons among lenders. Compare mortgage rates and loan offers to maximize the homebuying budget, because saving on interest can amount to tens of thousands over a mortgage's life.
Know your priorities. Before you begin your home search, be clear on your needs, wants, negotiables and nonnegotiable. There's no one-size-fits-all answer when it comes to finding the right house for you, so it's vital to ask yourself some key questions, For example: How long do you plan to stay in the house? Do you expect your family to grow? Are you open to buying a fixer-upper?
Get preapproved. Getting preapproved early in the homebuying process gives you a realistic understanding of how much home you can afford and helps avoid disappointment. It also allows you to compare lenders and loan offers - one of the best ways to maximize your homebuying budget. Taking the time to compare mortgage rates from different lenders can save you tens of thousands of dollars over the life of your mortgage, It's a big deal.
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