If my friend is looking to buy a home in the next few years, I would advise them to
start saving now for a down payment, research multiple lenders and realtors to make
sure they are really there to help you, immediately check your credit with the big
three to know where you are starting from as well as make sure there are no
discrepancies, know how much you can afford, and know what you need as well as
what you want in a home. There are considerably more factors than that, but those
would be the key things to get started a few years in advance.
Using a budget and tracking your expenses can help identify where you money is
going as well as how to best save and prepare for purchasing a home. Knowing your
credit score and maintaining a healthy credit score will greatly impact what you
qualify for. Paying credit down as fast as possible and building credit will greatly
improve the score, thus improve your chance of getting approved at a good rate for
the home you want to buy.
