Have you sat down and made a list of your new year's resolutions yet? It's always a fun exercise to take stock of your goals for the year ahead and make a plan on how to achieve them. For many in Delaware and Pennsylvania, you might find that they are personal or health related, but one of them might be buying a home!

There are dozens of steps to take to successfully become a homeowner in 2019 and as your local Delaware and Pennsylvania real estate experts, the Kat Geralis Home Team is happy to help you make that a reality! Below are 5 new year's resolutions to make in order to buy a home in the new year:

Eliminate indulgences
It might not be your favorite path to homeownership, but cutting indulgences can be a quick and simple way to save for a down payment. For instance, could you stand to cut cable and instead use Netflix? Or on the same note, is there a streaming service you could cancel? You might want to cut dining out and your morning coffee runs, instead packing your lunch and brewing coffee at home. These little indulgences can mean big savings if they're avoided!

Start a home savings account
You can't save specifically for your home if you don't have anywhere for it to go! Open a savings account specifically for your new home. Get into the habit of making weekly or monthly deposits—whatever you can afford—and watch your down payment grow!

Do a mortgage test run
The only way to truly know if you can swing being a homeowner in Delaware and Pennsylvania, is to do a test run. Try saving like a homeowner—meaning you set aside your monthly housing expenses and an amount for your emergency fund—and see if you can live with your new budget. 10% of your mortgage payment is a good rule of thumb to account for maintenance fees, so start there.

Pay all bills on time
There is nothing that can raise a red flag quicker to a lender than unpaid bills. If you intend to get approved for a mortgage in 2019, it is best to make sure you pay all of your bills on time. Not only does this keep your credit score high, but it shows lenders you are capable of managing a monthly payment.

Visit open houses
This may seem counterintuitive if you're not yet ready to buy a home in Delaware and Pennsylvania, but attending open houses allows you to see what properties are available in your price range. This gives you a more realistic approach to the market and could even motivate you to save more!

Ready to make your dream of owning a home a reality this year? Give the Kat Geralis Home Team a call today! We even offer FREE First-Time Homebuyer Seminars!

We look forward to hearing from you!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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