What to Focus on When Buying a Home in 2018

Is buying a home in 2018 one of your New Year’s resolutions? Through planning and perseverance, purchasing a home will be easier to attain, as well as expedite the overall home buying process. 


Here are 4 areas to focus on in the new year to help you achieve that goal.

1. Your Credit

If you are looking to buy a home in 2018, you’ll need to make sure your credit stays in line. There are minimum credit scores needed to qualify for a mortgage and you don’t want to drop below that threshold. If you do, it’s going to be more difficult to qualify for a mortgage to buy a home.

Mortgage lenders want to see you are responsible with your credit. Check with your own financial institution to verify what those credit score minimums would be. In the meantime, be sure to pay your bills on time as to not reduce your credit score.  

2. Your Income

Make sure your income remains stable and doesn’t decrease. Don’t take any chances by cutting back on overtime or opting to take some time off from work. Deciding to change work hours and go from full-time to part-time is also not a good idea. This will affect your income, which will affect your ability to qualify to buy a home at the price range you desire.

3. Your Assets

Build up your savings account to cover a down payment and all of the settlement costs that come along with buying a home. If you don’t quite have enough of your own money saved at the time you wish to buy a home, some might be fortunate enough to receive funds from a loved one. A family member or a close family friend might be willing to “gift” funds (money you do not have to pay back) to use toward your down payment and the settlement costs for buying your home.  

4. Your Employment

Before deciding to buy a home in 2018, it’s very important not to change your employment or the type of employment you have. Mortgage lenders want to see that you have job stability. Having a stable work history spanning more than 2 years in the same industry will prove beneficial when it comes time to apply for a mortgage.

New Year’s Resolution: Buy a Home in 2018 

As your realtor, I can help you achieve that goal. Feel free to contact me with questions about buying a home in the Tampa Bay area. I can help simplify the home buying process and guide you through each step along the way.