First-Time Home Buyer
A short guide to obtaining your first home.
Preparing to buy a home involves several key steps:
1. Assess Your Finances: Review your budget, savings, and credit score to determine how much you can afford for a down payment and monthly mortgage payments.
2. Get Pre-Approved for a Mortgage: Meet with a lender to obtain a pre-approval letter, which will give you a clear idea of your borrowing capacity and show sellers you are a serious buyer.
3. Define Your Needs and Preferences: Make a list of your must-haves, preferences, and deal-breakers in a home, including location, size, and features.
4. Research the Market: Familiarize yourself with the real estate market in your desired area to understand property values, trends, and neighborhood amenities. A savvy real estate professional will be able to guide you through the research phase.
5. Hire a Real Estate Agent: Choose a knowledgeable agent who can guide you through the buying process, provide valuable insights, and help you find suitable properties. If you’re a homebuyer working with an agent who is a REALTOR®, it means you are working with a professional who is ethically obligated to act in your best interest. As of August 17, 2024, you will be asked to sign a written buyer agreement after you’ve chosen the professional you want to work with. To learn more about what this means for you visit this buyer’s resource.
6. Start House Hunting: After laying out and signing the written buyer agreement you may begin viewing homes that meet your criteria, keeping in mind your budget and preferences.
7. Make an Offer: Once you find a home you like, work with your agent to make a competitive offer and negotiate terms with the seller.
8. Schedule a Home Inspection: Arrange for a professional inspection to assess the property’s condition and identify any potential issues.
9. Secure Financing: Finalize your mortgage application and work with your lender to ensure all financial aspects are in order.
10. Close the Deal: Complete the necessary paperwork, conduct a final walkthrough, and close on the property to officially become a homeowner.
Make it stand out.
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
“It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.”
— Squarespace