Step-by-Step Guide to Buying a Home
Your Roadmap to a Smooth Home Purchase
Buying your first home is an exciting milestone, but it can also feel overwhelming. This step-by-step guide will help you navigate the process with confidence.
Determine Your Budget
- Review your finances, including income, savings, and expenses.
- Check your credit score – a higher score can help you secure better loan terms.
- Use a mortgage calculator to estimate what you can afford.
Get Pre-Approved for a Mortgage
Contact a lender to discuss loan options and get pre-approved.
- They will check things like income, savings and credit score to help you determine the type and how much of a loan you can afford
Pre-approval shows sellers you're a serious buyer and gives you a clear price
range.
- Most of the time you need a pre approval to submit an offer so you don’t want to start looking until you are ready!
Find a Real Estate Agent
- Choose an experienced agent who understands your needs and the local market.
- They will help you find homes, negotiate offers, and guide you through the process.
Start House Hunting
- Make a list of must-haves and nice-to-haves for your new home.
- Schedule private showings with your agent.
Make an Offer
- Once you find the right home, work with your agent to submit an offer.
- The seller may accept, reject, or counter your offer – be prepared to negotiate.
Get a Home Inspection
- Hire a professional inspector to check for any potential issues.
- If serious problems arise, you may negotiate repairs or reconsider the purchase.
- There are many other inspection options if you so choose such as water, termite, and mold testing
Secure Your Mortgage
- Finalize your loan application with your lender.
- Provide any necessary documents and complete the underwriting process.
Get a Home Appraisal
- The lender will require an appraisal to confirm the home's value. (unless you are paying cash)
- If the appraisal is lower than the offer price, renegotiation may be needed.
Final Walkthrough & Closing
- Do a final walkthrough to ensure the home is in the agreed-upon condition.
- Sign the necessary paperwork, pay closing costs, and receive the keys!
Buying a home can be complicated, but that is what real estate agents are for! To help
you on all the steps along the way, if you or anyone you know is interested in buying a
home or even just wants to know more about the process, I would love to help, please
give me a call!
KEEGAN PRESSLER
✆ (574) 536-4104
✉ keeganpressler@gmail.com
