6 ways home buyers can avoid stress

Whether it’s your first or fifteenth home purchase, the buying process can be stressful. You can’t eliminate all the uncertainty and complications of such a large purchase, but you can reduce the stress with some preparation. These six tips will help you plan for the process:

Know what you want.
Condo? Ranch? Suburban castle? Have a clear picture of where you want to live and what type of housing you’re interested in.

Know what you can afford.
Everyone wants the penthouse, but can you afford the payments on that mortgage? Look at your finances and the area in which you’re buying to set realistic expectations.

Look at your credit report.
The time to clear up any issues with your credit report is before you apply for a loan. Is there a mistake regarding your employment? Does the report list a credit card you’ve never had? You don’t want to get a call from your lender with an unwelcome surprise.

Research your loan options.
Speaking of lenders, talk to one. A myriad of options exist for mortgage loans. He or she can help you look at all the loans available and figure out which types and terms work best for your situation.

Get pre-approved for a loan.
Your offer for your new home will look a lot stronger if it’s accompanied by a pre-approval letter from your lender. Pre-qualification is OK, but pre-approval shows you’ve had your financial situation verified by a lender.

Make an educated offer.
Price is only one part of an offer on a home. There are timelines to follow, requests you can make, and much more. It helps to have a professional real estate agent in your corner to explain contracts, closings and contingencies to you.

Buying a home is exciting, but can be complicated with mortgages, contracts, inspections and negotiations all playing a role. Plan well and work with professionals to eliminate stress and get the home you want.