Tired of paying rent? Uhm...duh. Who in their right mind isn’t? That said, the process of buying a house in New Orleans can feel overwhelming. But it doesn’t have to. In today’s blog post I’ll discuss 3 tips that should be considered before jumping into the market.
Most normal people, outside of the real estate industry, feel a lot of anxiety when they are house shopping. Even some of my clients who said, “Hey, so I’ve been thinking it may be time to stop paying rent...” followed up with, “But I’m really nervous!” After following the tips below, they found that buying a home was not only within their reach, but it can be an enjoyable process.
Get Financially Prepared
Being financially prepared to buy a home in New Orleans can remove a lot of anxiety. How? Here’s the scenario: You find the home of your dreams. You fall in love and are already visualizing living there. When it’s time to put in an offer, you realize you can’t qualify for a mortgage. This scenario plays out all the time. Understanding which loans and interest rates you may qualify for, different programs that exist to support buying a house in New Orleans, how much you may need for a down payment, and how to prepare for those unexpected costs when it comes time to closing are all imperative to a successful home purchase. Whew! The most effective agents require a pre-qualification letter to begin the process. Learn more about buying a home in NOLA
“Must Haves” VS “Wish List”
Not knowing which basics you “must have” creates a lot of unnecessary noise in the home buying process. Here’s the magic recipe to help you better understand a need versus a want: Do you need to buy in a neighborhood with the best New Orleans school district? Are you willing to take on a fixer upper? How much space do you really need to live a happy life? Jazzed about gardening in your back yard or is a condo with full maintenance more your speed? Buying in the Best New Orleans School District
Believe You Can Buy
I know this sounds hokey. But there’s a lot of truth in The power of positive thinking! It makes me crazy when people tell me they are interested in buying a house in New Orleans, but their job/income/lifestyle/etc. Is stopping them. The truth is, when a client is properly prepared and motivated, the dream of home ownership can become a reality.
When you have access to the right resources and a support team to guide you, buying a home in New Orleans is totally doable.
To recap, getting financially prepared is a snap when a buyer works with a lender like Jennifer Cook with NFM Lending. Her knowledge will be invaluable in getting you the right loan and interest rate for your new home.
Stop dreaming and start making a list of what you can and can’t live without in a property, and stick with it. Lastly, when you know you have done your homework, you won’t be taking a leap of faith, you’ll be walking into a new home you can afford and love.
I’ve helped many clients who are buying a house in New Orleans successfully navigate the market. Contact us today and let’s grab a coffee at Coast Roast and talk about it!