Frequently Asked Questions

---

YES!  There are tons of reasons why you should talk with a bank and get pre-approved before looking at homes.  First and foremost, talking with a bank before looking at homes can help you understand exactly how much you can afford.  There is no reason to look at homes that are listed for $250,000 if you can only afford up to $200,000.

Buying a home can be a good investment, as home prices tend to appreciate over time. However, it also requires a significant financial commitment, including a down payment, closing costs, and ongoing maintenance expenses. Renting, on the other hand, typically requires less up-front costs and less responsibility for maintenance and repairs.

It may be helpful to consider the following factors:

• Your current and expected future income: Buying a home is a long-term commitment, and you should be confident in your ability to afford the mortgage payments and other expenses associated with homeownership.
• Your credit score and debt-to-income ratio: A good credit score and low debt-to-income ratio will make it easier to secure a mortgage at a low interest rate.
• Your employment stability: Having a stable job and income is important when buying a home, as lenders want to see that you have a reliable source of income to make your mortgage payments.
• Your long-term plans: If you plan to stay in the area for an extended period of time and envision yourself owning a home, it may make sense to buy. If you're uncertain about your plans or don't see yourself staying in the area for the long-term, renting may be the better option.

Ultimately, it is important to carefully consider your personal financial situation, long-term plans and market conditions in the area you are looking to buy or rent. It may be helpful to consult with a financial advisor or real estate professional for more personalized advice.

There is truly no concrete “correct” answer to this question.  There are pro’s and con’s to buying a home before selling your current home and the same can be said about selling your current home before buying another.

When buying a home, it’s strongly recommended you have a Realtor.  There are many reasons why you should have a Realtor represent your best interests when buying a home.  Keep in mind, all Realtors are not the same!  When choosing a buyers agent, make sure you know how to properly interview prospective Realtors when buying a home.