The most important place in the world…HOME!

A new year has started and with that comes the various resolutions we make to improve our lives. Home sales soared last year as a dramatic response to the pandemic, and 2021 is shaping up to be another year of record growth in the housing market. What does that mean for you, if you’re one of the thousands of potential home buyers making it a priority to focus on where and how you live?

Lacrosse Homes has helped make the home ownership dream a reality by focusing on this home buying checklist:

Check Your Savings

If you’re buying a new home, you’ll need to make a down payment, and it could be the full 20 percent of the sale price. Saving for your down payment takes time so start putting away a certain amount each month. Approval for your home loan can occur without you having your full deposit saved, but starting sooner rather than later will put you ahead of the game.

Check Your Credit

Individual credit will has an impact on whether or not you get approved for a mortgage loan, and what the loan interest rate will be. The higher your credit score, the lower the interest rate (that’s money back in your pocket!), and the better the overall loan terms. If your score is in the fair/poor range– lower than 669 according to Experian — fixing your credit will be imperative to moving forward on your new home purchase.  This means putting a plan in action to:

  • Pay down your debt, starting with the smaller balances first;
  • Making all payments on time and in full;
  • Reduce your credit card balances or consolidate your debt into fewer payments.

Before a lender will issue you a loan, they’ll require seeing a variety of documents to verify your income, employment and assets. These documents will likely include tax returns, W-2s, employment history, income/bank statements, and proof of assets. The sooner you start organizing these documents, the sooner you’ll know where you fall short and can start taking steps to correct this.

Find a New Home

Now that you know how much you can afford and have a budget for your home purchase in mind, you can explore your options and look at homes in different location. New homes have many benefits that used/resale homes lack, requiring little maintenance, and ability in many instances to be personalized to fit your lifestyle!

Nothing stirs our emotions quite like the idea of home. This is where our families come together, where our dreams take hold and where those special moments in our lives take place. If 2021 is the year for making your dream of owning a new home a reality, we’re here to help you.