Don't be a busy bee! Stop doing this. Have you ever gone to the store, looked at an item of interest and asked how much it cost and after they told you the price you carefully placed the item back on the shelf? Most people have experienced this. Now, why did you put the item back? Answer: You put the item back because it was more than you had in your wallet or available in your account. Having said that, why would you go shopping for a home and don't have a CLUE as to how much you can buy? Makes sense right? Right! Another example: Let's say you decide to take the kids to Disney World for the summer. Would you just get in the car and drive without planning? NO!. Would you not use your GPS to guide you there? Yes! Would you plan for the entire trip by saving up enough money so that everyone can enjoy themselves. Yes! So you'd have to do your due diligence which would include the following:
~Check to see if you have any vacation time available
~Check out the hotels nearby and 10 to 20 miles away
~Research the cost of food, games, rides, etc...
~Map quest so that you know how far your traveling and how much gas you're going to need
Just to name a few things but I think you get the picture. The same concept applies to preparing to become a homeowner and shopping for a home. The first step is NOT to ask "how much is this house" It could be FREE but if you can't pay the taxes on it, would it really matter? Know the state of your finances. It will make a heck of a difference and the process will be so much easier. Don't get ahead of yourself. Follow the process as IT WORKS! The statement should be rephrased to say" I'm pre qualified" saves everyone time and keeps you from looking at properties that you're not qualified to buy and not to mention their may be other underlying factors.