Buying a new home is one of the biggest financial decisions most people will ever make. The jump from renter to homeowner is a monumental occasion and changes everything. While exciting, this decision needs to be done carefully and with plenty of planning. Making a bad decision when buying a home can be a financial disaster and leave you in debt.

At By Carrier we want all first time home buyers in Connecticut to get the best deal possible so we offer some tips on how to prepare.

Know Your Credit Score: Chances are you won’t be paying for your new home in cash which means you are most likely going to have a mortgage. The single most important factor in determining your interest rate on a home mortgage is your credit score. Your debt-to-income ratio and job stability also play a role, but not as much as your credit score. Find out what your score is before you begin shopping for a mortgage lender.

Check out Neighborhoods: If you are buying your first home, chances are you are thinking about starting a family. It is very important to select the right neighborhood that will offer you the comfort and lifestyle you want. Knowing the schools in the area, whether there are parks nearby and the crime rate is crucial to the well-being of your family. Spend time researching the areas you are considering buying a home in and get the facts before you make a decision.

Choose a Realtor you Trust: Shopping for new homes can be exhausting. Also, there are a lot of details you just might not have time for. A good idea is to find a realtor you trust. Working with someone who knows your needs, understands the nuances of town neighborhoods and your budget will take a lot of the weight off your shoulders.


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