One of the first questions that probably comes to mind when thinking of looking for a home is “what can I afford?” Your price range is a main factor when determining property size, type of home and even different locations you should be viewing.
Looking at properties that are beyond or even below your price range can be a waste of time, so how do you determine what type of home you are qualified to purchase?
If you currently own a home, your first step would be to find out what its current market value is. This process involves comparing similar homes that have recently sold as well as looking at special features your home may have. These features can possibly increase the selling price.
Speaking with a lender or mortgage broker to see how much you qualify for is step number two. Being Pre-Qualified or Pre-Approved before making an offer on a home is important and can make the offer more credible.
If you would like more information on the types or sizes of homes you qualify for, a free home evaluation or recommendations on lenders, give us a call and we can further explore the possibilities.