Judy Rivard's Blog
Your credit score can play a major role in your ability to get the financing that you need to buy a house. As such, you'll want to do everything possible to improve your credit score before you enter the real estate market.
Now, let's take a look at three quick, easy ways to boost your credit score.
1. Pay Off Debt As Quickly As Possible
Get a copy of your credit report from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). You are entitled to one free copy of your credit report annually from each credit reporting bureau, and you should take advantage of this perk so that you can learn about your outstanding debt.
If you have lots of outstanding debt, you'll want to start paying this off as quickly as possible. Because the less debt that you have, the more likely it becomes that you can get a favorable mortgage from a credit union or bank.
Don't wait to begin paying off outstanding debt. If you pay off even a small portion of your outstanding debt regularly, you can move closer to getting the financing that you need to acquire a terrific house.
2. Avoid New Credit Cards
A low credit score can be worrisome, and it may cause you to consider a variety of options to manage outstanding debt. However, if your credit score is low, there is no need to take out additional credit cards.
New credit cards may seem like viable short-term options to help you cover various expenses while you pay off assorted outstanding debt. But these cards are unlikely to help you resolve the biggest problem – paying off your outstanding debt to bolster your credit score.
Instead of signing up for new credit cards, it often helps to cut back on non-essential bills. For instance, if you don't need cable, you may be able to eliminate this expense and use the money that you save to pay off outstanding debt. Or, if you have first-rate items that you don't need, you may want to sell these items and use the profits to pay off myriad bills.
3. Keep Your Credit Card Balances Low
Once you have paid off your outstanding debt, you'll want to keep your credit card balances low.
It often helps to have one credit card that you can use in emergencies. If you keep one credit card and get rid of any others, you may be better equipped than ever before to maintain a high credit score.
Lastly, if you require additional assistance as you prepare to kick off a home search, you may want to work with a real estate agent. This housing market professional can help you narrow your home search to residences that fall within a specific price range. That way, you can avoid the risk of spending too much to acquire a house.
Increase your credit score – use the aforementioned tips, and you can raise your credit score before you launch a home search.
3 Oakwood Dr, Belchertown, MA 01007
Home décor and styles change all the time. One of the main things to remember before getting ready to completely remodel is choosing the right contractor. Although there are many contractors in the area, making sure they are able to do the job correctly makes all the difference. What are some things you should be looking for?
Getting input from friends and family, or a reputable association of contractors can help you create a list of contractors that could handle your project.
Once you have your list, it’s time to interview those contractors. Ask the following questions: Can you handle a project of this magnitude? Do you have samples of your work? Can I speak to previous clients? Do you use subcontractors? Are you licensed? Do you have insurance? This step can help you narrow the list even further and decide who you want to meet in person.
- Meet the contractors
Once you’ve established who made the cut, it’s time to have a face-to-face meeting. It’s during this meeting where you will determine whether they are a good fit. They should be able to answer any questions you have with ease, provide their licenses, and start to formulate a quote.
- Do your homework
Call the references the contractors have given you. Did the contractor ask to see the blueprint when you had your meeting? If they didn’t, they aren’t your ideal contractor. A quote can’t be made if they don’t know what they will be working on. Also, you want to discard the lowball quote. Quality work isn’t cheap.
- Discuss the project and finances
Once you’ve selected the final contractor and agreed upon the estimate, it’s time to find out how their billing structure is set up. You should never pay a contractor all the money up front. Even with glowing reviews, contractors can slip up. Don’t put yourself in that position.
- Timelines and agreements
The contractor should be able to provide a firm timeline on what will happen and how long the project will take. Everything you two agree on should be outlined in the contract from the very beginning. This protects your interests. The contract should detail every element of the project, from payment schedules to materials being used. The agreement should include proof of liability insurance, as well. You should require lien releases from the contractor to protect you from subcontractors and suppliers that may go after them if they don’t pay their bills. If there are any changes, it must be outlined in the agreement.
Following these steps should help you choose the right contractor and get the home of your dreams.
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The amount of time it takes to find the perfect residence varies from buyer to buyer. In some instances, a buyer may fall in love with the first residence that he or she views in person. Or, in other cases, a buyer may need to attend several home showings and open house events before he or she finds the right residence.
It ultimately may take more than a single day to find your dream residence. Lucky for you, we are here to help you streamline your quest for your dream house and ensure you can find the right home faster than ever before.
Now, let's take a look at three tips to help you accelerate your search for your ideal house.
1. Create a List of Homebuying Criteria
You know you want to buy a home as quickly as possible. With a list of homebuying criteria at your disposal, you'll be better equipped than ever before to discover a house that suits you perfectly.
Think about where you'd like to reside and the features you want in your dream house. Then, you can narrow your house search and move one step closer to finding a residence that matches or exceeds your expectations.
2. Get Your Finances in Order
Pre-approval for a mortgage can make a world of difference, particularly for a buyer who wants to speed up his or her home search. If you learn about all of your mortgage options, you can select a mortgage that complements your finances and enter the real estate market with a mortgage in hand.
Many banks and credit unions employ friendly, knowledgeable mortgage specialists. By meeting with various financial institutions, you can learn about a broad array of mortgage options. Plus, you can receive comprehensive insights into fixed and adjustable-rate mortgages and make an informed mortgage selection.
3. Collaborate with a Real Estate Agent
For those who want to quickly and effortlessly find their dream residence, it may be beneficial to collaborate with a real estate agent. In fact, a real estate agent can help a homebuyer remove the guesswork commonly associated with searching for a residence.
A real estate agent understands what it takes to discover a great residence at a budget-friendly price. First, he or she will meet with you and learn about your homebuying goals. A real estate agent then will put together a personalized homebuying strategy. Next, a real estate agent will help you put your homebuying strategy into action. And when you discover your dream residence, a real estate agent will help you submit a competitive offer to purchase this house.
As you get ready to conduct a house search, you may want to hire a real estate agent soon. If you have an expert real estate agent at your side, you can get the help you need to find your dream house. Best of all, a real estate agent will go the extra mile to ensure you can seamlessly navigate all stages of the property buying journey.