Buying a house for the first time can feel daunting, especially in such a competitive market. Fortunately, a little bit of preparation can help ensure a smoother, less stressful experience. Here are three steps to a successful home-buying journey in 2022.

What Can Improve Your Chances of Success When Buying a Home?

1. Get a Pre-Approval

Buyers are coming to the market in droves this year, so obtain a pre-approval ahead of time to stand out. This process involves submitting basic financial documentation, like income and debt totals, to a mortgage lender for review. If they determine that you're likely to pass the official underwriting process once reaching escrow, then they'll give you a pre-approval letter.

While it's not a guarantee of funding, sellers view the document with confidence. When selecting between two buyers, the one with the pre-approval is less likely to run into issues during the contract period, making them the likelier choice.

2. Don't Open Any New Accounts

Lenders take a deep dive into a person's financial history to determine their level of risk. Any new loans or lines of credit within a few months of applying for a mortgage might be considered red flags. This can put your application at risk of denial, even if you already have a pre-approval, so avoid opening credit cards or taking out any new auto or student loans for at least six months before buying a house.

3. Create a List of Must-Haves

Most first-time buyers have a budget to follow, so learn what elements are most important to you before you enter the market. Sit down and determine your must-have qualities, such as location, number of rooms, or features. Give these details to your agent so that they can curate a list of properties that match your unique needs.

If you're ready to begin your new home search, turn to Century 21 Hawkins & Kolb in South Carolina. Since 1977, homebuyers across Sumter, Clarendon, and Lee counties have relied on these dedicated local real estate agents for dependable guidance. Find the perfect property today by browsing their online real estate listings, or request personalized assistance at (803) 773-1477.