Buying a home is an exciting experience for anyone, and it is even more of a milestone when you are doing it by yourself. While it can be easier to tailor your mortgage and home search to your needs, it can be somewhat more stressful handling the purchase of a home on your own.

In addition to using a mortgage expert and having a trusted realtor, here are some other tips that can help improve your homebuying experience:

1. Be aware of your financial history: Understanding your credit score and financial history can improve your qualification potential. If your credit score is lower than 680, or lower than you’d like for what you are trying to qualify for, you can take steps to improve this before seeking a mortgage and get better results.

2. Ramp up your savings: While a mortgage will cover a large chunk of your home purchase, you are also required to have a down payment. Additionally, you need to consider closing costs (1.5-4%) of the purchase price, as well as ongoing maintenance and costs for your new home (repairs, utilities, property taxes). It is essential to determine your budget so you are aware of what you can afford monthly. Before you start shopping, it is also an excellent time to start ramping up your savings account so you can put more down and potentially reduce the overall mortgage.

3. Study the marketplace: One of the most critical aspects of homeownership is understanding what you can afford and where you want to live. These two key components can help you determine your budget and the areas you should be looking for a home, as well as what type of home size, amenities, etc. Understanding what is available can provide you with more information and help you fine-tune your shopping list.

4. Be flexible when possible and firm when not: While shopping for a home on your own can be much easier as you are only concerned about your needs, it’s still important to be flexible. While it is easier to find a home that fits just ‘you,’ keeping your options open can also have its benefits. Of course, if there are things you cannot live without or a location you need to be in, it is essential to be firm about those things as well. Creating a list of wants and needs can help you determine where there is room to be flexible and where there isn’t.

5. Consider your present and future needs: While you are shopping for your new home for today, you will also want to consider what your life might look like in the future. What are you doing five years from now? Ten years? Do you want to start a family or have children? Do you plan on changing jobs or requiring a move in a few years? All these things are essential to be aware of so you can make the best choice for you today and ensure that you’re considering your future needs.

6. Protect Yourself: Finally, while you may not be purchasing your current home with a partner, it is essential to leave room for this in the future to ensure that you and your home are protected. If another individual move into your home down the line, you could become common law, which could cause complications. Having an honest conversation about expectations and responsibilities can help, as well as writing up a document for both parties to sign, indicating these responsibilities as well as outlining the investment made by the original owner and new partner.

If you are a single homeowner looking to make a purchase but are unsure where to start, do not hesitate to reach out to a mortgage expert. As an expert in mortgages, they have experience in all types of situations and purchases, and the knowledge to walk you through the process and ensure you get the best home and mortgage for YOU.