When you think about your perfect home, there’s probably an image of the building that pops up in your mind. But what’s around the house?
According to the National Association of Realtors, more people are willing to compromise on a home’s condition and size than on the quality of the neighborhood or the distance from a school. This means where a house is plays a huge role it making it the perfect home.
At Affinity Plus Federal Credit Union, we want to help make that search as successful as we can, and we’ve got some tips and tools for you to consider as you think about buying a home.
What to look for:
• Nearby schools, even if you don’t have children. School zones affect property values, and are sought-after by many homebuyers.
• Drive through the neighborhood on different days and at different times to get a feel for the noise, activity levels, and traffic.
• Check a map for nearby hospitals, fire services, pharmacies, grocery stores, and any other amenity you’d like to be close to.
What can you afford there?
If you’ve got the neighborhood or city in mind, it’s worth checking out how much home you could afford there. That’s why we have the Affordability Calculator through our HomeAdvantage® services, so you can see if your dream neighborhood is a place you could afford now or later on in life.
Of course, partnering with the right real estate agent can speed up the process, and HomeAdvantage® can help with that too.
Confidence in your credit
Your credit score could affect your chances at buying your perfect home.
A credit score is a number ranging from 300 to 850 that shows a consumer’s creditworthiness. The higher the number, the more lenders are willing to trust that they will repay their loans. Factors that can hurt your score include:
• Late or missed payments
• High balances on credit cards
• Being sent to collections
• Judgments against the cardholder.
As a member of Affinity Plus Federal Credit Union, you have access to a free credit monitoring tool to use through your online banking services or your Affinity Plus app. The free credit reporting tool lets you see your full credit report, monitors your credit, and gives you helpful tips, all for being a member at Affinity Plus.