Calgary Social Real Estate Advisor
Many renters want to know what they can do to get ready to buy their first house as rent rates continue to rise.
If you're a renter, rising rental expenses may make it seem hard to save for home ownership. But the truth is that there are things you can – and should – do to prepare for your first house purchase. If you're ready to learn more about how to avoid rising rents, here's some professional advice.
Start saving now, even if it's a small amount.
When it comes to saving for a down payment, experts agree that putting aside what you can – even little sums of money – in a designated savings account is a wonderful place to start.
Examine your finances and improve your credit score.
Another suggestion from Social Real Estate is to examine your total budget and credit score and search for ways to lower your debt. The average credit score of first-time home buyers is 716, according to the rules. There are various internet resources that can assist you in determining your credit score if you are unsure. Don't be concerned if your score falls below the national average. Keep in mind that there are homeowners with credit ratings both above and below the norm.
Now is the time to start talking to your advisor.
Finally, speak with a Calgary real estate agent who is knowledgeable about the market and what it takes to become a first-time home-buyer. That's where we can help. A trusted advisor can assist you in navigating your particular market and walk you through all of your possibilities. Having the proper network of real estate and lending pros on your side can assist you in planning for the home-buying process, determining what you can afford and how to get pre-approved when you're ready.
The best thing you can do if you want to be a homeowner one day is to start preparing now. Even if you don't plan to buy for several years, meeting with a qualified Calgary Social real estate expert to learn about the process will help you succeed on your path to home-ownership.