Panama City Beach Properties for Sale

Checklist: Before You Buy a Home

Posted on by RE/MAX Southern

house11The decision to buy a home is potentially one of the biggest financial choices you will ever make. Even those who know they are ready to buy, often do not know where to start the process. Before you search the internet to find “homes for sale in Destin,” ask yourself some questions so that you can more easily pinpoint what you want and what you can afford. 

First things first, set your budget. It is important to see how your finances stand up to the 28/36 rule. Lenders look to your gross monthly income allocated towards housing (28%) and the total debt that you carry (36%). As long as your monthly debt does not exceed 36%, you will likely qualify for the loan amount that meets your 28% calculation.

Once your budget is set, ask yourself some questions like, “What do I need in a home?” and “What kind of home am I in the market for?” These questions can cover everything from condo vs. single-family options, floor plans, school districts, move-in ready options and many other factors that could further influence your decision.

Answering these questions now will help you search for a home with a clearer picture of what you need in mind. When it finally comes time, let a RE/MAX agent help you find the home you have described.  

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