How to Lower Home Buying Stress

So it is time to buy a new home. Exciting ! Maybe it is your first home purchase, or possibly a change to a larger ( or smaller ) home. After watching and helping numerous people move, I have come to realize that buying a home can be a very stressful experience.

To lessen the stress, let’s start at the beginning. Don’t even look at homes until you know what price range that you qualify for. Talking to your bank or mortgage broker first to get prequalified does two things. One, it establishes a budget for your potential purchase, and two, it gives you more credibility when you enter the negotiating process.

I have seen buyers who fall in love with the perfect home before getting pre approved, only to have the bank say no, and it can be very discouraging. Just a side note here, when the bank gives you a maximun number, that does not mean you have to spend the whole amount. It is sometimes best to be a bit conservative so that your dollars are not stretched too thin when Murphy’s Law unexpectedly kicks in and you have have to change the hot water tank, or furnace or…. [Read more…]