We Pay Cash For Houses Anywhere in the USA
At All Homes AZ, we buy houses all the time, in any condition, and we pay cash. We recognize, however, that for someone who’s not in the real estate business, that’s easier said than done. There are a lot of things to consider when looking to buy a home, especially if you’re a first time buyer entering into the world of real estate. For most people, buying a home is the largest financial investment they will ever make in their lives, so it’s important to be prepared and educate yourself before diving in head first.
Get Your Finances in Order
Your first order of business is going to be to figure out your finances, get everything in place, and then determine exactly what you can actually afford. Since buying a house is such a huge investment, it can be quite daunting and it’s not always easy to get approved for a mortgage. Knowing what your credit score is and strengthening it will help you not only get approved, but garner better rates. The cutoff score is generally considered to be around 650 and that’s going to usually end up with higher down payments or large fees, whereas scores of 700 or higher will get the better rates on the market.
This also means saving up for your down payment, loan fees and any closing costs associated with buying a home so that you’re financially prepared. Having a healthy savings account built up will help too, since you’ll want to have a cushion for unexpected costs. In short, you want to save up as much as possible before you even start shopping for a home.
It can be easy for Phoenix home buyers to fall in love with a house, especially when you first start shopping, but it’s important to take a step back and think about the long term. After all, if you’re buying a new home, you’re most likely going to be there for a long time, so planning ahead is absolutely vital. A small, cozy cottage might be perfect for a young, newlywed couple, but in a year or two, if they start having children, that cottage probably isn’t going to be big enough to accommodate their growing family.
Take into account the location of the property as well. Are there good schools nearby? How far will your commute to work be? Is it in a safe neighborhood? Do some research before making an offer and make sure you think about not just the house, but what living there will entail.
Choose the Right House
Buying a home is a significant investment, so you want to make sure you are happy with your purchase. As previously mentioned, it’s important to figure out what you can actually afford before you go house hunting and you need to be honest with yourself about what your budget is. Don’t fall into the trap of stretching your bank account to “make it work.” Remember, the unexpected happens and you don’t want to risk losing your home because something came up and suddenly you can’t afford your mortgage payments. Set a realistic budget for yourself and stick to it!
With that in mind, don’t settle for a house just because it’s in your price range. You’re going to be living in that house for years, decades, maybe generations! Buy a house you can afford, but also buy a house that you love because you’re not just buying a house – you’re buying a home. Make sure it’s a home you’re going to be happy to live in for many years to come.
Here at All Homes AZ, we’re dedicated to helping those who need to sell their house or are looking to buy a new home. We pay cash for houses, close the deal quickly, and sell to Phoenix home buyers. If you’re in the market for a new home, call us at 480-725-7063 or contact us online today!