Preparing to Buy

Preparing to Buy

Purchasing a property requires proper planning and preparation. Prime markets are competitive and having your financials in order can make all the difference during the offer stage, and throughout the transaction. It is essential to start your journey by figuring out your purchasing power, based on your income history, assets, and credit score. These elements dictate your search parameters. A good first step is to speak with a lender, or if you are planning an all-cash purchase, to review your liquidation timeline. Now is not a good time to make sudden career changes, large purchases, or to open lines of credit. You want to approach your property purchase from a position of financial stability and as little debt as possible. Once your budget is set, you can move on to your purchasing criteria with confidence.