In the spirit of new beginnings, it’s only natural for your thoughts to center around your goals for the year ahead as you get ready to say goodbye to 2022. And if one of those goals is buying a home, it’s best to start preparing now.

Wondering where to start? Here’s how to make your home-buying resolutions come true next year.

#1 Take Stock Of Your Finances: First off, take a hard look at your current financial situation. Are you spending money in ways that do your goals a disservice, or are you spending in a way that is laying the path for a solid financial future? Really take stock to see where you can make adjustments that better align with your goals. While a 20% down payment isn’t always necessary, it’s important nonetheless to set aside a good chunk of savings when preparing for homeownership. Overwhelmed by the enormity of your goal? Start small by doing simple things like eating in or canceling that fifth streaming subscription.

#2 Be Honest About What You Can Afford: It may not be the first step, but it’s arguably the most important. Realizing what you can actually afford is a huge factor in the home buying process, as is getting pre-approved with a mortgage professional ahead of time. Both of these steps can help your home buying journey go infinitely more smoothly.

#3 Start The House Hunt: If you really want to be as successful as possible with your home buying journey, you should consider finding an experienced agent to guide you through the process. A Realtor can help you target the areas and neighborhoods that best suit your lifestyle, offer you exclusive access to homes before they even hit the public market, and facilitate complex negotiating and contract details. In other words: Having a professional on your side can make all the difference!

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➤ Thinking about buying, but not sure where to start? Check out these related articles on home buying that will arm you with useful information!

• What You Need To Know About Closing Costs
• Top DMV Neighborhoods For First-Time Buyers
• Why Your Should Buy, Not Rent

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#4 Win The Bidding War: Once you’ve found your dream home, you’ll need to put your best food forward to secure it. If the market is competitive, you’ll want to let the seller know you’ll do whatever it takes. In the case that you lose a bidding war, you can always try to buy out the winning buyer to negotiate a deal.

Our little secret to winning a bidding war? Write the seller a handwritten letter explaining why you want to buy their home. By adding this personal touch, you’re creating a connection that will surely make an impression and elevate your offer in return.

#5 Don’t Skip The Inspection: Home inspections aren’t just another step standing between you and your new home; they’re worth every penny. In truth, inspections can flag problems you may not see otherwise and give you some much-needed peace of mind that you’re buying a home in good condition.

#6 Be Cognizant of Closing Costs: There’s no getting around it: Closing costs typically amount to 2%-5% of the loan principal and they vary state-to-state. The costs will usually include an appraisal, credit report fee, origination fee, application fee, and more.

Ready to make moves in 2023? We’ll be there every step of the way. Book a consultation here.