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Preparing to Buy a Home: 4 Things to do to Get Ready

Preparing to Buy a Home: 4 Things to do to Get Ready

Buying a new home is a life-changing experience. It can be long and tedious at times; however, it can also be a pleasant experience if you do some hard work in advance to get prepared. Here are four things you can do to get ready when buying a house.

Check Your Credit Report

Mortgage lenders use your credit score and history from your credit report in order to determine whether or not you qualify for a mortgage loan. Your credit score also determines the interest rate for your loan. You should check your credit report on a regular basis to make sure all of the information reported by the three credit bureaus is shown correctly. There are many online websites where you can monitor your credit report. If you don’t currently have any credit, it will be hard to get a loan. Many people will open a credit card through their banking institution. Once the card has been received, they buy gas or groceries with it and pay it off each month. The better your credit score, the lower your interest rate will be.

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If you have any delinquent accounts on your credit report, you should work with the creditor to bring your account up-to-date, offer a settlement, or pay it off in full. For any errors or discrepancies you find, you should send a letter or a claim form to the reporting credit bureau to dispute it.

Downsize Your Living Expenses

In order to purchase a new home, you will need to have money saved for the down payment, closing costs, and other expenses, such as moving.  By downsizing your current living expenses, you can use the money that you save for your new home. You can cut your expenses by moving into a cheaper place, stop eating out frequently, and reducing your cable bill.

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For example, if you are currently renting a house with a large rent payment, you should consider moving into an apartment with cheaper rent. If you are not sure where the best apartments are in your area, you should do an online search for “Dallas apartment reviews” or “Phoenix apartments.” Be religious about saving money as well. It may be hard at first, but once you are adjusted to cutting back, it will seem like a breeze and you will be in your new house in no time.

Take a Home Buyer Course

Enrolling in a home buyer course is helpful, especially for first-time home buyers. These courses provide information on steps that you need to take to purchase a home, look for a real estate agent, or apply for down payment assistance programs, and other helpful tips. The length of the course varies from one day to a few weeks based on who is offering the course.

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If you are interested in attending a home buyer course, you should check with local banks, real estate companies, and nonprofit organizations in your community. You may find that some companies offer this course for free or for a minimal fee.

Get Pre-approved for Your Mortgage Loan

Getting pre-approved for your mortgage loan is recommended before you start shopping for a house. A pre-approval allows you to know in advance how much you have to spend on a house. It also gives you a buyer’s advantage over other buyers, who haven’t been approved for a loan yet, when you make an offer on a house.

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As part of the application process, you may be required to provide documentation to show proof of income, employment, rental history, and other important factors. So you should start gathering these documents as soon as possible.

By using these four tips, you will have a jump-start on making your dreams to own a home become a reality.

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Last Updated on January 25, 2021

What Should I Do Today? 30 New Things To Do Today

What Should I Do Today? 30 New Things To Do Today

It’s always fun to do something new, but often we fall into the trap of spending our weekends the same way.

If you’re stuck in the same old routine, it might be time to try something new.

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What should I do today? No ideas?

Everything listed here is something you can easily do no matter where you live, and even on a tight budget! Try out one of these 30 new things today, you’ll be happy you did.

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Try Out These 30 New Things To Do Today

  1. Visit a suburb in your city that you’ve never been to before, or somewhere you haven’t explored much.
  2. Learn ten phrases in a new language–what about Japanese, Italian or Portuguese?
  3. Listen to a genre of music you haven’t tried before–perhaps Jazz, Punk or Blues?
  4. Have a picnic in your local park complete with a packed lunch and your animal friends.
  5. Start a daily journal to write your thoughts in.
  6. Try a new cuisine–what about French, Lebanese or Korean?
  7. Visit your local library and borrow some books for the weekend.
  8. Plant some flowers in your garden. If you don’t have one, try an indoor potted plant.
  9. Visit a local museum or art gallery and view their latest exhibition.
  10. Learn a new skill–what about sewing, gardening or cooking? You’ll be surprised what you can learn in an afternoon.
  11. Say hello to a neighbor you don’t usually talk to.
  12. Make a card for a friend and send it to them with a handwritten note.
  13. Learn how to cook a new dish for dinner. We all get tired of eating the same thing, why not try making something new?
  14. Re-read an old favorite book. Don’t leave it gathering dust on your book shelf; get it out and read it all over again.
  15. Research the culture of a different country online–what about India, Guatemala or Sweden?
  16. Go for a walk or bicycle ride around your neighborhood.
  17. Watch a classic film like Casablanca, The Godfather or The Wizard of Oz.
  18. Make a photo album of a recent holiday you took. Don’t let your memories get lost on your computer hard drive; make a special keepsake album of your trip.
  19. Visit your local farmers markets and pick out some fresh produce. Farmers markets are full of delicious fresh fruit, veggies and more. Find your local market and take a visit.
  20. Plan a day trip to somewhere outside your city–it might be the seaside, mountains or another city!
  21. Check out what community events are running in your area and attend one.
  22. Make a birthday present for a friend. Handmade gifts are personal and much more special than anything you could buy from a store.
  23. Attend a play at your local theater. Support your local theater and have a fun night out at the same time.
  24. Volunteer with your local nature conservation society to plant some trees. Conservation societies are always looking for helping hands; do your bit and plant some trees.
  25. Be a tourist in your own city and visit all the popular tourist sites you’ve likely never been to (don’t forget your camera!)
  26. Call a friend you haven’t spoken to recently and have a good long chat.
  27. Put on your favorite song and dance your heart out. You might be surprised at how much fun you have!
  28. Invite some friends over for a BBQ. There’s nothing better than an afternoon spent with good friends and good food.
  29. Try out a new form of exercise like Pilates, tennis or swimming.
  30. Organize a clothing swap with your friends. You’ll have a great time, and save some cash and the environment all at the same time!

Now that you’ve read my list of 30 new things to try today, my question for you is, “what new things will you try today?”

Featured photo credit: Unsplash via unsplash.com

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