Ultimate First Time Home Buyer Guide- Decide if pre-qualification amount fits your wants and needs
Decide if pre-qualification amount fits your wants and needs
A huge benefit to getting a pre-qualification letter is that it gives a buyer a guide to what price point the buyer can afford. With this price point guide, you can now start to tailor your search to areas with homes within your budget. As you complete this search, you may find that the area you want to be in and the price point you can afford might not match up! In this case, some buyers will go back to the drawing board and will either wait until they can afford a slightly higher price point or adjust their expectations. In other cases, buyers realize they can actually afford slightly more of a home than expected!
This step is the ultimate reality check!