The "Before You Zillow" Checklist
Looking at houses is the fun part. It’s emotional, exciting, and full of possibility. But if you start touring homes before you do your homework, you are setting yourself up for heartbreak.
As a Broker, I see it all the time: A buyer finds "The One," only to realize their credit needs work or their down payment is tied up.
If you are thinking about buying in the next 6-12 months, put down the phone and tackle this checklist first.
1. The "Big Purchase" Freeze
This is Rule #1. Do not buy a new car. Do not finance a boat. Do not co-sign a student loan for your cousin. Lenders look at your "Debt-to-Income" ratio. Even a small monthly payment for a new Peloton can lower your home buying power by tens of thousands of dollars. Keep your credit cards in the freezer until you have the keys.
2. Find Your "Sleep at Night" Number
A lender will tell you what you can borrow. That is rarely what you should borrow. Sit down and look at your actual monthly budget (groceries, daycare, fun money). Determine a monthly mortgage payment that allows you to sleep at night. That number dictates your price range—not the bank's pre-approval letter.
3. Locate Your Down Payment
"It's in my savings account" is great. "It's cash under my mattress" is a problem. Lenders need to "source" your funds. If you are getting a gift from family or pulling from a 401(k), that money usually needs to be "seasoned" (sitting in your account) for a month or two. Get the money where it needs to be now.
4. The "Must-Have" vs. "Nice-to-Have" Cage Match
You can't have it all (unless your budget is unlimited). Sit down with your partner and make three lists:
The Non-Negotiables: (e.g., School District, 3 bedrooms, 2-car garage).
The Wants: (e.g., Fenced yard, finished basement, granite counters).
The Deal Breakers: (e.g., Main road, septic system, no central air).
Broker Tip: If you have more than 5 "Non-Negotiables," we need to talk.
5. Check Your Lease
If you are renting, dig that lease out of the drawer. When does it end? What is the penalty for breaking it early? In this market, closing usually takes 30-45 days after offer acceptance. If your lease ends in May, we need to be serious by February.
Feel overwhelmed? Don't be. This is exactly why I created my "Game Plan" Strategy Session. We can sit down over coffee (my treat), look at where you stand on this list, and build a timeline that works for you.