I already shared how I manifested my house with you. The vision board, and all the law of attraction in the world, wouldn’t have worked if I wasn’t taking practical steps as well as spiritual ones. With my clients I try to impress the “law of attraction for the real world” approach to creating their ideal lives. There’s a balance that must be struck. You can’t just meditate on getting a six pack. You’re gunna have to do some crunches. Feel me?
So in response to the numerous emails I’ve received, (both positive and negative) about manifesting our house here in Florida, I want to share with you the practical side of how we were able to purchase our first home.
Homebuying is a wild ride. I hope these tips help you avoid the ups and downs:
1. SAVE SAVE SAVE
First things first (I poppa) you NEED to start saving a ton if you haven’t already. Take automatic deductions out of your bank account each week or each paycheck. Spend less going out, or shopping. Find ways in your life that allow you to save (without ruining your lifestyle, or you won’t stick with it for long.) Find ways to save money buying almost anything, eat out a bit less, cancel subscriptions you don’t use, and BANK the savings. You will want the biggest down payment you can manage. This will help you avoid PMI (private mortgage insurance) and pay less money each month.
2. WORK WITH A PRO
When the savings got high enough, I reached out to professionals to get my questions answered. I wanted to know the ins and outs of purchasing a home. I went to lenders and asked questions about mortgages, all financing options, what the process was, what the timeline looked like. What I could do to facilitate the entire homebuying process. How much home I could afford, etc. Ask all you want and don’t be shy. Getting your questions answered equips you to be a smarter homebuyer. There are even free first-time homebuyer seminars you can attend if that’s your style.
3. STAY ORGANIZED
This is key. Keep your funds organized, keep your home search details organized. Write down your non negotiable items (pool, neighborhood, bedrooms etc) and keep a log of the homes you see. Don’t rely on memory. I took photos and videos of each house, and kept a log of the address and the pros/cons. Be sure to look at homes that are within your price range, and don’t fall in love with a house you cannot afford.
4. RESEARCH ON YOUR OWN
Speaking to the pro is definitely key, but arming yourself with information independently is essential as well. Google can be your best friend if you let it. There are tons of online resources to help you out. Sites like Capital One’s Home Loans Online Neighborhood is a free online resource where you can learn all about home buying. There’s guidance on how much of a mortgage you’d qualify for, a glossary of all the new terms you’ll be hearing as a homebuyer and tips on how to handle things financially.
5. CLEAN YOURSELF UP
I’m talking about your credit and financial history here. My credit was over 800, John’s was like .004. That can really make a difference in the amount you pay each month. The loans you’re offered and your interest rate are directly impacted by your credit score. Get old bills paid, get debts cleared up, and pay your bills on time each month to be sure you’re helping your score. Get all 3 credit scores from the different credit reporting agencies and see where you stand.
Check your reports carefully and fix any errors as soon as you can. I had this ridiculous charge of $125 for something I never purchased, and those bums bad the nerve to report it….I fought that charge for a good 3 years. So annoying.
6. SAVE SOME MORE
Save like your life depends on it. Because it does. Put money aside for the down payment, closing costs, the first few months of mortgage payments, and a bit more for random expenses and/or to fix the house up. Seriously. Save WAY more than you think you’ll need to. You never know what will pop up. As soon as we moved in, I got hit with about $3K worth of issues that had to be handled immediately (septic and water system) and had I thrown all my saved funds at the mortgage/closing costs, I would have been devastated.
Those are my tips, I’m no pro (you can get tips from pros here) but I’m just a girl who’s been through it. Good luck on your first home purchase. Having to pay monthly mortgages is sucky, but it’s the best sucky thing ever!! Happy Homebuying!!
What’s your best tip for preparing to buy a home?
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.