3 Ways to Prepare for Homeownership While Renting

January 31, 2023 | Texas REALTORS® Staff

You may not be ready to buy your first home, but that doesn’t mean you can’t prepare now. Here are three actions you can do while renting that will put you in a better position when you’re ready to buy.

Test the Budget 

You know all homeownership costs, but you can estimate how owning a home will affect your budget. A REALTOR® can help you determine how much you can afford, the potential mortgage payment you’d make, your local property taxes, and repair costs you might want to consider as a homeowner.

Check Your Credit

Before you apply for a loan, request a free credit report to find out what a lender would see. If your report has errors, you can correct them before they affect your ability to qualify for a mortgage loan. And you might be able to take steps to improve your credit before purchasing a property. 

Create a Wish List

There’s probably not a home that will offer every single amenity you desire, but you should have a general idea of what you’re looking for. So while a home with fewer than two bathrooms may be non-negotiable, perhaps you’d see the potential in one with a smaller kitchen or a not-so-appealing exterior paint job.

It’s never too early to talk to a REALTOR® when you know you’re going to buy a home. A REALTOR® can answer your questions about the homebuying process and help you avoid surprises along the way.


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Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.


Published by Living In DFW

I guess you can take the girl out of Texas but you can't take Texas out of the girl. I was born here in Dallas and moved away at age 8. After 30 years of moving around the United States, as a child with the family and as an adult without them, I finally found myself back in Dallas. Since I returned in 2001 I have sold furniture for Crate&Barrel and Real Estate with Keller Williams. It is my hope to share with you what I love, question, and find interesting here in DFW.

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