Clear the Static

Best practices for Making a Confident Decision

Whether a first-time, second third, or fourth, a new home purchase is a different experience each time. And each time there will inevitably be outside influences providing their thoughts and tips about “best practices” for buying and financing. These outside influences are most often family and friends who are trusted mentors or like-minded. Their guidance carries weight and should be respected given the relationship. BUT… No two people are alike when speaking in the context of a home purchase. Keeping this truth in mind is so very crucial for a buyer to make a clear decision. This is the best practice for anyone buying and/or financing a home.

There are three main questions I ask of every prospective borrower:

1. What is your goal for repayment
2. What is your target cash to close
3. Based on what you need in a home, what is the price point you feel aligns with that search.

We start with these questions to build the template of the individual buyer. From there, the numbers begin to align and provide a clear picture of what makes sense. There will never be a definitive answer on when, how, what, or how much. Apart from purchasing for investment, decisions on buying a home are need-based. So, when looking to buy, you buy when the time is right for you.