New year, new home: Tips for making a move in 2022 Part 1
1) Figure out if it’s the right time to buy
Prior to beginning your new home hunt, it’s critical to ensure the timing is correct. While external variables such as seasonality and local market trends may influence your choice, the most critical aspects are personal. Take the time to analyze your finances and any impending major lifestyle changes to decide if a relocation makes sense for you right now.
2) Find out how much you can afford to spend
If you’ve decided to make a move, a critical first step in purchasing a house is getting pre-approved for a mortgage. Consider your financial status carefully to ascertain how much you can afford to spend on a property. This will assist you in narrowing your search for possible houses to your chosen price range.
Are you prepared to purchase a home? In a nutshell, yes—if you can afford it. However, “afford” is not as straightforward as the amount of money in your bank account at the moment. Numerous additional financial and lifestyle factors should be included into your estimates.