Preparing to buy my first property. Where to start?
Ok, so this is my situation:
I've got $2,000 in my savings account. I plan on saving $200 a month until November, which is 8 months from now. By then I will have another $1,600 and total I'll have $3,600 for my downpayment on an $80,000-$100,000 home. (Considering it would be 3-3.5% down)
I plan on going through a first time home buyers program.
( also, note that in November, my lease will be up on my current residence in which I am renting. I want to move into my first property directly from the one I stay in now.)
My question is, when should I start searching for a home? And getting preapproved and all that? I don't want to waste nobody's time by starting the process and have it be too early for whatever reason, but I know that I'll have my 3.5% by November.
I have an agent I spoke to not that long ago, but I didn't want to start the process with her or any lenders until I had my downpayment together. What do you guys think? Should I start talking to my agent now? Should I get pre approved first? Should I save more? Or should I wait until 2-3 months before November, or what? Any advice would help. Thanks in advance.
