Step 1: Save
You will want to save for multiple things:
- Down Payment
- Closing Costs
- Escrow for Insurance and Taxes
Step 2: Improve Your Credit Score
There are a variety of ways to improve your credit score, for instance:
- Stay current on bills
- No major purchases
- Don’t cancel any credit cards
- Higher credit score means a lower interest rate
Step 3: Calculate What We Can Afford
You will want to determine what you can afford by calculating a new house cost and speaking with a professionals.
See our finance page for assistance!
Step 4: Get Mortgage Pre-approval
Be sure to shop around and see all of your options before making your decision.
- Shop for the best deal
- Choose primary and backup lender
Step 5: Decide What You Want in a Home
This is where the process starts to become fun!
- Create a wishlist/checklist
- Save images and use tools.
Step 6: Choose a Realtor
Choose a realtor whom you feel comfortable with and won’t be pressured into buying.
Step 7: Visit Homes
While walking through different home be sure to:
- Take photos and make notes
- Bring your home shopping checklist from Step 5
Step 8: Narrow Choices
Take your time when narrowing down options and take these steps:
- Visit the neighborhood during the day and at night to gauge traffic, noise, safety, etc.
- Test the Commute
- Consider it’s resale value
Step 9: Make an Offer
Be aware of common contingency opt-outs:
- If home appraises for less than mortgage
- If inspection reveals flaws owner won’t fix
- If you lose your job before the deal closes
Step 10: Schedule Home Inspection
You will need to schedule the home to be inspected to make sure everything is just right.
Step 11: Final Walk-through
The final walk through will be when you text small gadgets throughout the house to be sure everything works:
- Test light switches and socket
- Check that windows and doors work
- Test faucets, drains, and toilets
Step 12: Close and Move-in!
Now that the deal is sealed you can move into your very first home with the pride of a job well done!