Preparing to Buy

Preparing to Buy

Before you start shopping for your property, it is a good idea to make some preparations.

Understand What You Can Comfortably Buy

Your purchase price is only one part of the equation. Interest rates, property taxes, insurance, HOA fees, maintenance, and potential improvements can all affect the true cost of owning a home.

Before we begin your search, we will help you understand the numbers and what makes sense for your goals. If you are not already working with a lender, we are happy to connect you with trusted lending partners who can walk you through financing options, current rates, and the preapproval process.

The goal is not simply to determine what you can buy, but what you feel comfortable buying.

Build Your Green File.

A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:

• Financial statements
• Bank accounts
• Investments
• Credit cards
• Auto loans
• Recent pay stubs
• Tax returns for two years
• Copies of leases for investment properties
• 401K statements, life insurance, stocks, bonds, and mutual account information.

Be Careful With Your Finances.

Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.