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The Dos and Don’ts of Buying a New Home
The thought of finally having your own home and not having to worry about throwing your money away on rent each month can be very exciting. Of course, before you get too enamored with the idea of becoming a homeowner, you need to temper that excitement with rational thinking. The following dos and don’ts can help buyers such as you save some money and be happier in the long run.
The Dos
Credit Check-Up: Even before you start your search for your home in earnest, you need to check your own credit and pull if from the three credit bureaus. You can get the information free of charge, and it won’t damage your credit. Rather than just looking at the credit score, you need to check and see if there are any mistakes. You will also want to know check for bankruptcies, tax liens, and judgments. If you notice any problems on your report, challenge them and make sure that the corrections show up on all three bureau reports. If you have questions about items on your credit report ask us for help as we have years of experience dealing with these sort of issues.
Pre-Qualify: Once you know that your credit is in order, you need to know how much house you are able to afford, and this means contacting a mortgage company to get pre-qualified. Just because you might be able to get a loan for a large sum of money doesn’t always mean that you are going to be able to afford the home. You need to make sure that you will still be able to have enough money left over after paying the mortgage each month so you can pay all of your other bills and still live comfortably.
Be realistic: When choosing your home, make sure that you are living within your means. You might not need to have a house as big as the one that you’ve been looking at. It might be a better move financially to choose a smaller home that fits your current needs. It will almost certainly be closer to your budget as well. When choosing a home, consider the location in regards to schools and your commute.
The Don’ts
There are a long list of “don’ts” when it comes to buying a home, but these are 2 of the most common ones we see:
Take on new debt: Don’t buy anything large right before you buy a house unless you are paying in cash. If you buy a car and have a large car loan, it can make getting a loan for a home more difficult.
Quit your job: While many people dream of owning their own business, wait until AFTER you buy a home to do so if you are in the market. If you are newly self-employed, you may have to wait a few years before trying to get a mortgage loan. During those first couple years of self-employment, it can be difficult to qualify for a home loan.
Advice for Professional Women in the Workplace
The world is starting to change for the better, at least when it comes to women in the workplace. More and more women are following high-powered careers in many different fields. They are going out on their own, buying their own homes, and not relying on husbands as a form of support.
Sixty years ago, this seemed all but impossible and women were often relegated to the roles of mother and caregiver. Today, women are CEOs, lawyers, doctors, politicians, and anything else that they choose to be. The doors have been flung wide open, and it is a great time to be a woman given all the options that are available.
Finding the right balance between family and work
As more women have entered these various careers, one might think that they’ve placed the importance of family life firmly in the backseat. However, that’s not the case. The women today are able to spend time working in a professional environment during the day and still remain an attentive and loving mother and spouse.
The key to remaining happy and keeping a great job and family is balance. Some feel neglectful that they are leaving their children at home and in the hands of sitters and they don’t put their all into their work. Others feel that they need to prove what their worth at their job and then the family doesn’t receive the attention it deserves. These feelings aren’t found only in women. Both men and women can have a hard time finding a balance, but everyone will be able to attain it as long as they are able to focus on work while at the job and on family while at home.
Looking forward
Of course, even with more women in professional roles, it doesn’t mean that it is easy for them to advance and to get where they want to be. There are still a number of barriers that women are breaking down just so they can be treated as equals with their male counterparts. Fortunately, things are changing, although they might not be changing fast enough for some.
A piece of advice that many professional women have given others who are just starting out in a new career is this: don’t try to act like a man while on the job, and don’t try to act like a woman either. Act like a professional at all times when it comes to your work, and those around you will take notice.
