Pre-Approval vs Pre-Qualification: Which Is Better?

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Today we'll be discussing an important distinction among home buyers in Charleston. I'm talking about a pre-approval versus a pre-qualification. It's an important difference that you may not know about, but home sellers will surely be scrutinizing you about it. 

A pre-qualification and a pre-approval are two entirely different documents. A pre-qualification is a much more basic certification, and it can be obtained in a few hours. You only need a few pieces of information, none of which is really double-checked, and you can then get your pre-qualification letter once a lender has looked over your numbers.

A pre-approval letter is much more desirable, and I highly recommend it to all of my home buyers. This is more time-consuming, but it will designate you as a serious buyer if you can acquire it. You will submit tax returns, pay stubs, insurance information, and more. Once the lender has an opportunity to review these items, you will then be issued an approval letter. 

Both buyers and sellers like to see letters of pre-approval, and this is especially true when the real estate market is as hot as it is in Charleston.

If you would like to be put in contact with a great local lender, please don't hesitate to contact me!

What Is Most Important When Renovating Your Charleston Home?

Plan Ahead When Renovating

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Today, we want to share a video from HGTV to discuss how you can plan ahead when it comes to home renovations. Renovating your home can be an exciting process, but it's important that you don't get ahead of yourself. You can't just go willy-nilly into a major project and expect it to go perfectly. Planning properly for these types of projects can assure a smooth project, and one that may even cost less!

HGTV’s Amy Matthews recommends making a very detailed timeline of your project, including potential things that could go awry and making backup plans in order to prevent these things from happening. Putting your plan onto paper is a good way to start this process.

Another major step is choosing a good team of contractors that you can communicate with. If they don't know what you want done, they can't do it. 

Just remember, there is no such thing as too much planning! If you plan on renovating your Charleston home, please contact us. We know great contractors and could also give you advice on what projects will bring you the highest return on your investment. 

We look forward to hearing from you!