Three Steps to Home Ownership in Columbus, OH
A number of people have been on the fence about purchasing a home: they just don't know where to start. They have had discussions with their friends and everyone has provided some direction, some of it conflicting. I am going to briefly share with you three broad steps to home ownership.
The first step is KNOW YOUR NUMBERS
There are 3 companies that maintain your credit score, Experian, TransUnion, Equifax.
Your credit score is determined by taking the average of the 3 scores. This score is what lending institutions use to determine your “credit worthiness”. The better your score, the better your financing terms.
You can check your score, at no charge by going to: www.annualcreditreport.com. I recommend checking your score at one of the 3 companies in April, August and December of each year. Doing so will allow you to catch any suspicious activity and/or correct any errors before they go on for too long.
The second step is to: BUILD YOUR TEAM
When you think you are ready to begin the process of buying a home, there are two important professionals you should seek out: a licensed REALTOR® and a reputable mortgage lender.
Purchasing a home is THE largest purchase most people make. Therefore, it is wise to research the professionals you will be working with to make the purchase. Check with friends and relatives for referrals.
Because most people don’t purchase a home every year or every 5 years, this will be a new experience to you. “Interview” the persons referred to you. I recommend doing so because your focus should be to find a REALTOR® who is knowledgeable and someone who “fits” your personality. You want someone with whom you have a fiduciary relationship, meaning someone who will listen to your desires and provide you guidance; someone you will trust to “walk with you” through this process.
The same applies to a lender. However, your REALTOR® may be able to refer you a lender. Keep in mind that you want someone knowledgeable and who has your best interest at heart. You want a someone who is well-versed in the various home-buyer programs in your area and someone who is responsive to your needs.
The third step is: FIND YOUR DREAM
So, once you have contracted the services of a REALTOR®, identified a lender and obtained your pre-approval, it’s time for you to find your dream home. However, there will be several things that you must identify to your REALTOR® so that he or she will be able to do his or her job of finding your dream home.
At Camelot Real Estate Group, we have a “wish-list” that we have our clients complete. It identifies the type and style of home they would like, the number of bedrooms and bathrooms, basement or not, garage size, and the list goes on. We also have our clients identify preferential neighborhoods or school systems and must haves vs. options.
Once the client has identified their wants and desires, our agents begin the search for homes that meet the criteria our clients have provided.
While the home-buying process may seem daunting, there are professionals available to help you every step of the way.
The Camelot Real Estate Group is a full-service real estate office specializing in residential transactions in the Columbus area. We are passionate about helping people to achieve the American Dream and you can depend on us for quality advice before, during and after your real estate transaction.
Connect with us today if you have any questions or if you are ready to “make a move”, by giving us a call at 614-239-5788.