CINCINNATI — It’s a new year, and buying a home may be at the top of your list. But how do you go about making the best decision when preparing to make that purchase? One accountant shares advice on how you can land the home of your dreams. 

What You Need To Know

  • Buying a new home in 2022 might be at the top of people's resolution lists

  • Saving up for the new home may be a challenge

  • Ohio accountant Wiley Kyles shares tips on how to land the dream home

  • Good credit, money for a down payment and lowering tax withholdings are just some of his suggestions

W. Bernard Kyles and Company CEO and President Wiley Kyles recently met with Tricia Mueller to discuss plans for purchasing a new home. He said now is a good time to make a move. That's because with the new year starting she’ll receive tax benefits on the home and receive tax deductions. 

“At least she knows before she signs on the dotted line because you might be able to tell that person I qualify, I can afford the home, here’s all my paperwork,” said Kyles. “Can we close on Jan. 1?”

For those who receive large tax refunds, $3,000 or more, he suggests they lower their withholdings. “When you do that, you’ll get more money each paycheck," he said.

"If I divided that by 12 that means I can take that, put it to my payment and my lifestyle wouldn’t change at all,” she said. 

Knowing your buying power is something Kyles says is also important. Many times he said people will think they can only afford a certain amount but depending on the interest rate, you can purchase a home you didn’t think was possible.

“That house that was $425,000 that I really wanted because I got a cheaper interest rate I can buy that $425,000 house and still be under that amount I couldn’t go higher than,” he said. 

As Mueller looks to purchase another home she says she feels more confident. And knows exactly what to do to get the best bang for her buck. 

“I’m getting a lot of information that I need to make those decisions properly and again at the right time to make sure I’m aligning myself up in my own finances on the side so I don’t come into any surprises,” said Mueller. 

As long as you have good credit and have enough money saved up for a down payment Lyles says you're on the right path to getting the home of your dreams. 

“You’ve got to understand finance order to make sure when you move into a house it’s as comfortable as it will be,” he said. 

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