Real Estate Editorial

I contacted my real estate agent today, because I am in the market to buy a new home. It has been 5 years since I bought my previous home and a lot of things have changed since then. I am looking to upgrade by using the equity I gained in this place so I can move closer to my family and friends.

I thought using my Blog would be a great way to track my progress as well as keep my readers apprised of the process.

After speaking with my Realtor regarding what I was looking for, the amount I wanted to spend and real estate in general she asked me if I had spoken with my Mortgage broker yet. I replied ‘No’ and instantly realized that I probably should have done that first.

I being a Real Estate enthusiast and owning a Real Estate blog should know better and felt a bit sheepish.

It is important to contact your mortgage broker as soon as you consider making a move.

First off a mortgage broker will be asking about your financial situation. Don’t think of this as a bad thing, really it’s a great opportunity to see if you can financially afford to buy a house. A breakdown of your finances and monthly expenditures puts you in a better position to upgrade or make changes to your monthly spending so you can upgrade.

I have heard so many times from people I know that go house hunting before they have their mortgage and finances in order. They go out with a Realtor fall in love with a house that usually is way out of their budget only to learn that they can’t afford it. There is absolutely no reason to look at houses out of your range, why put yourself through that disappointment. Even when you do get approved you’re still going to be thinking about that house that was $100,000 more than you can afford.

Anyways enough rambling. I will talk to my mortgage broker and let you know what I find out.