Prepare to Buy Right

Nef Cortez

By Nef Cortez

Zig Ziglar, motivational speaker/author quoted: “Success occurs when opportunity meets preparation.”  How does opportunity meet up with a home buyer? Opportunities will present themselves.  Important prerequisites for a home buyer to include in their planning to be “buyer ready” and prepared to buy right and at the right opportunity are: build credit, save money for down payment, and research home ownership options.

Build Credit: Establish good credit history for eligibility and secure financing for a home loan. Set the foundation for good credit by making small purchases on credit and on-time payments. In exchange, companies measure a person’s creditworthiness by use of a FICO score. The higher the FICO score, the less risk to a lender. According to financial education/credit management, “the more your credit history shows that you can responsibly handle credit, the more willing lenders will be to offer you credit at a competitive rate.”

Save Money for Down Payment: Start small, create savings plan, and set aside money on reserves. Expense reductions i.e. “The Latte Factor,” the idea that money can be saved by cutting small, recurring daily expenses will result in big savings ( Set goal, boost up savings to build larger sum of money. This prepares a buyer the ability to provide a down payment customarily required in many major purchase transactions.

Research Home Ownership Options

Home preferences, location, neighborhood, and affordability are home ownership research items. In an internet search, keep in mind the website’s content to be current and accurate. Establish relationships with realtor and/or lender for professional guidance and purchase options. Become familiar with real estate market conditions.  As a buyer prepares, they have the opportunity to make the right buy that fits their needs. A well-informed buyer will buy right and at the right time.

This article was written by Nef Cortez, a licensed Real Estate Broker, Ca BRE # 00560181 since 1976. He can be reached via e-mail at Please feel free to email any questions regarding real estate.