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Do you plan on buying a home in 2020? The concept of buying a home can be rather daunting for a lot of people. This major purchase has many steps along the way. Due to the coronavirus outbreak in the U.S, many buyers are also wondering what steps they can take to better position themselves for purchasing a home while being self-quarantined. Continue reading and discover a few important steps homebuyers can take to prepare for buying a home while practicing social distancing

Gather all necessary documentation.

The mortgage application process requires a lot of documentation. The good news, however, is that most of the documents can be gathered/completed prior to your home search. Some of which include residency history, pay stubs, pre-approval documentation, employment history, copies of statements for 401ks, CDs, etc. 

Get preapproved.

One of the best steps a buyer can do is to get preapproved for a mortgage before beginning their home search. A preapproved buyer can act quickly on homes that just hit the market. If you are not preapproved you could potentially miss out on homes that may be excellent matches for you. Another major advantage of getting preapproved is that you know how much you have to spend. Once you receive a preapproval letter from the lender, you will know your exact price range. This will help you narrow down your search to homes that fall within your budget. 

Choose your realtor.

An experienced realtor will be able to guide you throughout all stages of the homebuying process. Not only will they be able to answer any questions you may have, but they can provide you with their own expertise. Be sure to reach out and speak with a few different realtors.  You want to have a list of questions ready so you can find the right person to represent you throughout your home search.

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