5 things you need to prepare before buying a home in candlewood lake

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5 Things You Need to Prepare before Buying a Home in Candlewood Lake

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Page 1: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

5 Things You Need to Prepare before Buying a Home in Candlewood

Lake

Page 2: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

Buying Candlewood Lake and Lake Lillinonah properties can be daunting. There are so many things that you have to consider such as credit scores, down payments, and mortgages. If you fail to plan before buying a home, it can lead to severe repercussions. Listed below are some the things you need to prepare before you make one of the biggest purchases of your life.

Page 3: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake
Page 4: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

1. Cash for down payment

Before you purchase any Candlewood Lake

homes, make sure you have stashed money in a

high-yield savings account. In today’s tighter

credit market, it is a necessity to have a down

payment of up to 20%. Aside from that, some

mortgage lenders also require at least six month’

s worth of mortgage payments “on hand.”

Page 5: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

2. Your credit scoreIf you are buying your home with a spouse or a partner, both of you need great credit to qualify for the mortgage. If one of you has poor credit, you might need to make some adjustments and preparations to buy the home with only one borrower on the loan.

Page 6: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

The signing borrower needs to have enough income and assets to qualify alone. Before you start shopping for Candlewood Lake real estate, check your credit score first and take the necessary steps to improve your credit standing.

Page 7: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

3. Your expectationsBefore you start looking for a property, you need to have an idea of what you would like to have in a home. Walk-in closets, granite countertops, and a two-car garage are some of the items that are in most home buyers’ list. However, you have to keep your expectations realistic.

Page 8: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

Do not hastily rule out a home just because it doesn’t have all the items on your desired list. As a homebuyer, you need to distinguish between necessities and wishes. Not being clear with your must-haves will make the home buying process more difficult for you.

Page 9: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

4. Your preferred locationExperts suggest that is good for home buyers to be specific with the location they want. After all, location will dictate how you will live. Having just a general sense of a region or a city is not enough; you need to narrow down your search to certain neighborhoods.

Page 10: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

Determine which amenities are important to you and your lifestyle. These may include schools, public transportation, and grocery stores. After determining the place where you want to live, check out open houses and contact a real estate agent who knows the area well.

Page 11: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

5. Your attitude towards homeownershipHomeownership is not for everyone. Even if you have already been approved for a mortgage and have a budget, it doesn’t always mean that you should buy a home. Before you make the purchase, it is good to evaluate your needs, wants, and immediate future plans. You also need to consider your lifestyle and your goals. Home ownership entails a lot of responsibilities.

Page 12: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

With these ideas, you will be more prepared to make the first step towards homeownership. Check out

http://www.CandlewoodLakeCTRealEstate.com

today to see the latest lakefront homes for sale in the area.

Page 13: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake

If you want to work with a real estate professional who can assist you in buying or selling Candlewood Lake, Lake Lillinonah homes, Lake Warmaug and Lake Zoar real

estate, call me, Deborah Laemmerhirt, at 203-994-4297. I have the knowledge,

expertise, and tools to help you close that deal.

Page 14: 5 Things You Need to Prepare before Buying a Home in Candlewood Lake