How to buy a property in Henderson within a year

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How to buy a property in Henderson within a year

Posted December 27, 2021 in Real Estate Advice

How to buy a property in Henderson Within A Year

Are you ready to buy a house but can’t seem to find out how to buy a property in Henderson? For many people, buying a house is the biggest transaction they make in their entire life. Because of this, buying a property can also be a very stressful situation if you do not have the right Henderson real estate agent on your side. Contact Anna or Michael Klinger at 702-509-1446 to find out more about buying a house and where you are at in your journey towards buying a home. Below are a few things to do to buy a property in Henderson within a year.


Make the decision

Do you want to buy a house in Henderson within the next year? Yes? Be dedicated to taking the following steps to get there! Being determined to buy a home in Henderson is taking a huge step towards buying a home and will help you get through the following steps. Preparing to buy a home for most people is not very difficult, it just takes consistency and living purposefully for a year. So are you determined to buy a home within the next year? If so, follow the next steps to be able to buy your home next year!

Have you spent years renting homes or apartments and have grown tired of paying all that rent money to someone else? If so, then it might be your time to consider purchasing a home and keeping that cash for yourself. However, as a first-time home buyer, you do need to ensure that you are prepared on more than one level before jumping into the equity market. There are many financial considerations to make note of before you start looking for a home. But, if you can arrange your finances into a sensible plan and secure a mortgage then this can ultimately be the most rewarding purchase you have ever made or will make.  Contact Anna Klinger, Property Manager at: for any property management inquiries or questions

Read your credit report

You can get a credit report online or from a lender. What many people don’t know is that your credit report or credit score can be wrong. There may be things that are tied to you that are incorrect. There may be a credit card that is linked to you that may actually be your parents or just someone with the same name. If the person who is actually using the credit card has not made payments on time, the link between you and that credit card account is probably detrimental to your credit. Once you read through your credit report, you can weed out what is showing up that is actually you and what should not be on your credit report. If you are working with a lender or real estate agent, they may be able to tell you what you need to do to correct your credit report of companies you can contact who will do it for you.

Increase your credit score

If you are trying to figure out how to buy a property in Henderson, one of the first things you will want to do is increase your credit score. One of the best ways to do this is to simply pay your bills on time. Make sure you’re not putting too much on your credit card every month, and if you don’t have a debit card it may be a good time to obtain one with your bank or credit union. You may also want to pay off some debts at this point. Now is also a good time to close any accounts you may have, as oftentimes lenders do not like to see that you’ve closed any accounts right before you buy a home. Also know that sometimes paying off debt can have an initial negative impact on your credit, and you may see your credit go down before it comes back up again. Understand that this is ok as you have a year to build your credit score back up again, and with less debt, your credit score can be higher than it would have been with the debt.

Put your cash in the bank

Banks and lenders do not like to see huge deposits of cash right before you purchase a home, depositing all your cash now should stay off the bank or lender’s radar. Why lenders don’t like large cash deposits is that the money is “unaccounted for.” For all they know, you could have sold a stolen car or participated in some other illegal activity to get you enough money for a down payment. Large cash deposits that are unaccounted for can hinder your ability to buy a home, so deposit your cash now so that when your banks ask for several months’ worth of bank statements, the cash will show up as a pre-existing balance and not an untrackable deposit.

Save loads of money

You will want to have as much money in savings as possible when you go to buy your home next year. With a larger down payment, you may be able to qualify for a lower interest rate or have lower monthly payments. Depending on how much you save, you also may be able to afford a bigger house.


Talk with a few lenders

You will want to start talking to lenders early as they may have other tips for you personally to prepare to purchase a home in Henderson. You will also learn about the specific mortgage options that are or will be available to you when the time comes to start shopping for a home. You may also find a few home-buying assistance programs that will help speed up the home buying process. You may also want to talk with a real estate agent in Henderson who can give you an idea of where the Henderson housing market is going within the next year.

Find out what it takes to own a home

If you are still living at someone else’s house or renting your own apartment, you may not realize the cost of utilities, property taxes, insurance, repairs, and more. Once you get an idea of what all this will be costing you, you may decide that you need to save a little more for a downpayment to make your monthly payments lower so that you can afford to pay all your other bills.

Check on your savings progress

How are you doing with saving money for a down payment? If you haven’t been able to save anything for the last four to six months, you may have a problem! Take a moment to check your budget to see if you can be saving more money than you are right now! If you don’t qualify for a home-buying assistance program, you may need to pay 3.5%-20% of a down payment depending on your situation. So double-check your savings account and talk to your lender about how much you specifically will need for a down payment.


Make every cent count

You’re almost there! Realize that within this period every purchase counts and every dollar you are saving is going to make a difference! It would be a terrible idea to go get a new car or make any huge purchases without consulting your lender. You will also not want to make any deposits that lenders cannot trace to something else, such as the company you work for with your paychecks. This is the period of time that you’ll be submitting bank statements to your lender, so know that every purchase and deposit counts, and now is the time to be on your best behavior.

Schedule another consultation with your real estate agent

You will want to have your Henderson real estate agent talk with you about your wants and needs. Once you both have a good idea of what you’re looking for in a house, they will be able to send you homes that may hit some check marks on your wants and needs list. This will also give you an idea of how many items you may be able to get on your “want” list. Based on what you like from the properties your REALTOR® sends you, you may be able to narrow down your list even more so when your agent takes you home shopping, they will be able to know exactly what Henderson homes are for sale to show you.


Give Notice

If you are renting your home, condo, or apartment, you may need to give a one to two-month notice to vacate. If you talk with your landlord about your situation (that you’re purchasing a home) they may be flexible with you about when exactly you will be able to close, so don’t give notice till you talk to your real estate agent and your landlord.

Get pre-qualified or pre-approved

Depending on your situation, get pre-approval or a pre-qualified letter from your lender and send a copy to your real estate agent so they know your official budget. They will also need to have this letter when they send in offers that you will be making on homes for sale in Henderson.


Have you saved a big enough down payment? Have you fixed your credit score enough to get a great mortgage? Have you talked with your real estate agent and figured out what homes and what areas you like the best? Well, then it’s time to go shopping! You may need to see several homes and make a few offers before one gets accepted, so be patient! Your home is out there and Nevada Desert Realty would be happy to help you find it! Contact Anna or Michael at 702-509-1446 to start your home search!

Nevada Desert Realty
Klinger Real Estate Group
NVDRE B.1001526
40 E Horizon Ridge Pkwy, Ste 101
Henderson, NV 89002
(702) 509-1446
(702) 948-4910 fax