As exciting as it to buy a home, it’s important to think about your finances early, before you sign on the dotted line. I have a discussion with my clients so they are well-informed and well-equipped when it comes to their financial investment as homeowners.

Take time to contemplate these important areas.

Keep equity growth top of mind: From start to finish, don’t lose sight of the benefits that equity growth in your home provides. With every decision you face throughout your home buying journey, ask yourself “Will this contribute or take away from the equity I plan on building in my home?”

Be realistic when you plan: Make a list of the things you desire (vs need) in your next home. You may be able to have both, and that’s great. Most important is to address your primary needs. Take an honest look at your current income and expenses; keep in mind the big costs you expect to come up in the future (college, family vacations, cars, etc.). Try to learn a bit about mortgages on your own and avoid the temptation to max yourself out once you do sit down with your mortgage lender. Having a frank conversation with everyone in your family will go a long way in making the best decisions long-term.

Find a mortgage lender you trust: A great mortgage lender will be aware of all your loan options, be willing to educate you on the loan process, and make proactive suggestions based on your particular situation. It’s OK that you don’t know all the ins-and-outs of mortgage lending. Once you find the perfect fit in a loan officer you’ll feel supported and confident in your decisions.

Lean on me for advice: As your REALTOR®, I do not have a mortgage lenders license, but I do know a lot about mortgages. I have a relationships with several reputable lendeSavers. Reach out early and allow me to be there for you when you first start contemplating your home purchase.

Reach out anytime if you are thinking of buying and have questions. Text, call or email! As your Chicagoland northwest suburbs REALTOR®, I am here to listen, help you make a plan, and work for your best interests.