Is purchasing a new Portland home at the top of your list of goals for 2020? We don't blame you! Portland is an amazing city to call home, and now is a great time to shop for a home in the area. Setting goals is a great place to start when buying a home, but closing the deal will require action. No matter how much or how little experience you have shopping for homes, having a plan will help. Our brokers are here to help, with five tips for making your dream of a new Portland home a reality in 2020.
Make a List of Wants, Needs, and Dealbreakers
Portland homes for sale feature a ton of variety and having a strong idea of what you want ahead of time will make it much easier to narrow down your options. Create separate lists for what you need to have from your new home, which extra perks you want from the home if possible, and the potential dealbreakers. Then order your list by priority.
While it will be hard to satisfy every item on your list, knowing your priorities makes it much easier to find the right home. You may find your list of priorities evolving as you visit homes, and that's perfectly normal. Revise your list as you get new information, and use what you learn to hone in on the right choice for your needs.
Start Saving and Set Goals
No matter which part of the city catches your eye and what type of home you're after, buying a new home requires a significant financial investment. Get ahead of the curve by starting to save right away, and setting aside extra cash from financial windfalls whenever possible. Set savings goals to reach throughout the year and keep progress moving in a positive direction.
Remember, in addition to a down payment, you'll need cash to cover moving costs, maintenance, and all of the little things that come with buying a new home. Start saving an emergency fund along with saving for your down payment, so you'll be ready for anything.
Clean Up Your Credit
Securing a mortgage with favorable terms is so much easier when you have a strong credit score, and it's never too early to start cleaning up your credit when shopping for a home. Start by requesting a free copy of your credit report from the three major credit bureaus. Review your reports for any incorrect information, along with any credit issues that require your attention.
Identify any old debts, take steps to address them, and make all payments on time moving forward. It's also a good idea to avoid opening new lines of credit.
Become a Neighborhood Expert
Portland is a diverse, vibrant city, and every neighborhood has something unique to offer. To be truly happy with your next home, it helps to pick a neighborhood that you love. Start by researching neighborhoods online, and if possible, visit the most appealing options to get a first-hand feel of what each neighborhood has to offer.
Consider the services, attractions, and resources that you want close to home, along with the type of atmosphere that you desire from your neighborhood. Certain perks – like an excellent school district – can increase the value of homes in a neighborhood. This may mean a higher cost upfront, but homes in strong school districts also tend to hold their value.
Find the Right Real Estate Team
No matter how much experience you have shopping for homes, no doubt finding the right real estate team will make life much easier. Ask around for referrals from trusted sources, and don't be afraid to speak with multiple agents before making your decision. Your real estate agent should be able to provide you with crucial information on local real estate trends, costs, and neighborhoods, along with answers to all of your key questions. Having a local expert on your side streamlines the process and helps ensure you find the right home for the right price.
Whether you're looking to purchase your first home in 2020 or upgrade to a new abode, our experienced real estate team is here to help you achieve your dream. Contact us to buy and sell homes throughout Portland.