Want to Buy an Indianapolis House? Time to Start Your Good Habits Now!
Want to Buy an Indianapolis House? Time to Start Your Good Habits Now!
January 29, 2017
by Lisa TreadwellReady to buy your own home this year? Let’s get at it!

You may be months away from hiring an agent and checking out houses, but preparation time is absolutely now. Set things right now and ensure an easy transition from renting to buying.

As an Indianapolis realtor who works with first time home buyers, here’s what I suggest.

Habit No. 1: Automate Your Down Payment Savings Immediately

You may need as much as a 20% down payment. That’s a massive pile of cash, so you can never save too soon or too much.

It’s also a number that many people looking to buy an Indianapolis house simply are not ready for. In fact, in my experience, I’d estimate that 95% of people end up needing more than they planned for.

The easiest way to deal with this is to automate your checking account to set apart some of your paycheck into a separate savings account.

Habit No. 2: Build Your Credit History and Maintain It 

To get a mortgage in Indianapolis, lenders must see that you’ve paid your bills. This is a no-brainer, and you don’t need a great Indianapolis real estate agent to tell you that!

Still, it’s crucial, so stay on top of everything and make sure there are no mistakes on your report.

I once had a client in Washington Township, Indiana who made $200,000 annually, but couldn’t get a mortgage because he couldn’t manage to pay his credit cards on time.

First Time Home Buyers Want to Buy Your Indy House!

Ready to Sell? 
Habit No. 3: Time to Show your Handiness

When you own your own house, it’s pretty important to know how to manage some basic maintenance and repair problems, unless you’re willing to shell out big bucks whenever something breaks.

Habit No. 3: Build Muscle Memory: Practice Living on a Budget

Be sure to compare the costs of renting vs. buying in your area. If your mortgage is going to slice off a larger chunk of money than your rent used to, you’ll need to build a new budget; one that expresses your new responsibility and smaller disposable income.

Habit No. 5: Prepare to Commit and Jump

Spend time getting to know the real estate market before you’re ready to buy.

Browsing homes online offers a view of what is possible in your price range and the neighborhoods and amenities you’ll realistically be able to get. You’ll be better-situated and won’t waste time and money looking at houses and areas out of your reach…or below it.

Of course, the first four GOOD habits to get into are entirely up to you – I can’t help you there. But when it comes to planning and assessing what you’ll be able to afford and what areas best suit your needs, you can always feel free to call me, email me, or text me for a no-obligation analysis or chat.

The Indy Real Estate Experts are at your beck and call when you’re ready to start pre-planning for your big adventure!

If this is the year, then let’s talk soon!

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