Buying a Home – Made Simple

Buying a Home - Made Simple

Getting ready to discover the houses for sale in Newtown Square, PA, or the other Main Line surrounding areas? Congratulations! Buying a home is exciting. It can also be a little daunting. But don’t stress; if you plan and research ahead of time, you can make the most informed decisions. 

Check and Improve Your Credit

Your credit will play a major role in your home buying power, so get clear on where your credit stands. Check with all three major bureaus: Experian, Equifax, and TransUnion. Almost no one has a perfect FICO score of 850, and that’s fine. That just means there are opportunities to improve as you get ready to buy a home. You can use the information from your credit check to help boost your credit:

Any disputes? Resolve them now.

Pay off as much of your credit card balances as you can.

Always pay your bills on time. Set up autopay now if you haven’t already. 

Research Home Loans and Get Pre-Approved 

There are several types of home loans. Some of the most common include:

Conventional loans

Government-insured loans (FHA, USDA, and VA)

Fixed-rate mortgages

Adjustable-rate mortgages

You have the best chance of a seller taking your offer if you’re already pre-approved for your loan. Choose a lender and discuss what loan works best for you and your situation. To get pre-approved, your lender will want to see:

Proof of assets and income

Good credit

Employment verification

Set a Budget

It’s easy to bite off more than you can chew when buying a home. Set a realistic goal before you start looking for houses. Remember, the cost is going to come down to more than just the home price itself. Some factors to consider when calculating a budget include:

Income and debts

Repairs and maintenance

HOA fees

Property taxes

Utilities (gas, electric, water, and waste removal)

Pick a Location

With so many great townships to choose from, it’s hard to decide which one is right for you. Here’s a snippet of what to expect when researching some of the Main Line locations:

Havertown: Great for commuting to Philadelphia, this township is family-friendly with its excellent public and private schools and low crime rate.

Bryn Mawr: Known for Bryn Mawr College, this community is close to the city while having plenty of its own shops, cafes, and restaurants. 

Wayne: Join a community of highly-educated professionals working primarily with computers and math. 

Narberth: This section is one of Pennsylvania’s smaller communities, boasting unique architecture with its many pre-World War II buildings.

Newtown Square: A great place for young professionals looking for new job opportunities. You’ll find the area has a variety of housing options, a low crime rate, and great public and private schools.

Build A Relationship with A Trusted Realtor

The best realtor is someone you can trust, someone who knows the area well, and someone who can guide you through the home buying process. The experts at Trust the Pineapple are among the top Havertown realtors and surrounding areas. If you’re looking to buy a home in the Main Line, PA area, contact us today.

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