Edmonton real estate is a great place to buy your first home in 2023. However, in order to successfully reach this goal, you need to create some checkpoints. If buying your first home is a must-do in 2023, it is essential that you take care of the following tasks before going house hunting. In order to help you prepare for purchasing your first home, I have outlined some New Year’s resolutions that you’ll want to stick with during 2023.
Continue reading below to learn more about what real estate goals you should set in the new year!
A Buyer’s Guide to New Year’s Resolutions.
- Plan for your Downpayment.
Firstly, when buying a home it is critical that you save for a downpayment. Setting goals to reach your ideal amount for a downpayment is a vital part of buying a home. In fact, the amount you save can drastically impact how much you pay for your home in the long run. Furthermore, it can influence what homes are within your affordability and so much more! This is arguably the most challenging and time-consuming part of buying a home. So, make sure you come up with a solid plan to attain the money for your downpayment.
- Get your Credit in Order!
Secondly, you’ll want to set a goal to get your credit in order. Having a good credit score is another key part of buying a home. Your credit score influences the rate of your mortgage, what homes you can buy, what lenders will offer you and the list goes on. Moreover, a good credit score will determine whether lenders will approve your application for a mortgage. So, it is necessary that you set goals to improve your credit rating (if needed) or maintain it (if you already have a good score).
- Get a Mortgage Pre-Approval.
Lastly, you’ll want to make it a goal to get a mortgage pre-approval sometime in the coming months. Because interest rates are high and still climbing it is better to get this done sooner rather than later. Even though a mortgage pre-approval is not a requirement, it is helpful because it allows you to shop with a better idea of what homes you can afford.
For more information about what real estate goals you should set for 2023, contact me today! I’d be happy to help you find Edmonton real estate in the new year. For more information about buying or selling a home in this city, feel free to reach out to me. Be sure to check back on my blog next month for more real estate-related information. I look forward to helping you attain your real estate goals in 2023!