-
Lot Size8,712 sqft
-
Home Size2,100 sqft
-
Beds5 Beds
-
Baths3 Baths
-
Year Built1995
-
Days on Market5
Financial Resolutions for the New Year
- Linda Moore, Real Estate Tips
- Coldwell banker Encinitas, Encinitas Home, encinitas home for sale, Encinitas Homes, encinitas homes for sale, Encinitas House, Encinitas Houses, encinitas real estate, Encinitas real estate agent, encinitas realtor, Finances, Financing, home in encinitas, homes for sale in encinitas, Linda Moore, New Year, real estate agent in encinitas, real estate in Encinitas, real estate tips, Resolutions
- December 31, 2014
It is finally time to bid farewell to 2014 and ring in a brand new year. But before you pop the cork on that champagne bottle, you may want to get your New Year’s resolutions in order. Many people vow to quit smoking or lose weight, but if you are planning to buy a home in the near future, there are some financial resolutions that could be far more beneficial to your goals. When it comes to preparing your finances for a home purchase, there are a few things that can benefit buyers.
Check Your Credit Report
Checking your credit report before planning to buy a home is always a smart idea. It will give you an idea of how your credit will look to lenders, and could allow you to take care of any marks on your credit before they become a problem. If buying a home is your ultimate destination, your credit report is the roadmap that gets you there.
Limit Your Credit Card Spending
You want to let lenders know that you use your credit responsibly, and setting a reasonable budget and staying within it to limit your credit card spending is an excellent way to do that. Keeping an eye on your spending is also an excellent way to see how your finances will be affected with the additional cost of purchasing a home.
Pay More than the Minimum Balance
Bringing down the balances on your existing credit is a great way to show your creditworthiness to lenders. It also reduces the interest you accrue over time, which is extra money you can put aside for your future home.
Limit New Credit Lines
Lenders are often wary of borrowers who acquire too much credit. In order to keep your credit-utilization rate low, try to avoid seeking out new lines of credit.
Stay Ahead on All Payments
Keeping on top of your accounts and making payments on-time each month is one of the most important things you can do when planning to buy a home. It’s the best way to show lenders that you are responsible, and can easily manage your financial obligations.
With these tips in mind, you can ring in the New Year with a new home.
