Buying your first home is exciting, and a little overwhelming. After helping more than 400 first-time buyers, we have boiled the process down to twelve steps in the order they actually happen.
1. Know your numbers
Before you open a listings app, look at your monthly budget. A good rule of thumb: keep your total housing cost under 30% of take-home pay. Use our mortgage calculator to test scenarios.
2. Get pre-approved, not just pre-qualified
A pre-approval means a lender has checked your income, credit and savings. Sellers take offers far more seriously when one is attached.
“The best negotiating tool a first-time buyer has is a solid pre-approval and a flexible closing date.”
3. Choose neighborhoods, then homes
Visit at different times of day. Check commute times, schools and planned developments. Our neighborhood guides are a good start.
- Commute under 35 minutes
- Grocery store within walking distance
- Room to grow in the next five years
4. Make an offer with contingencies
Inspection and financing contingencies protect you. Your agent will help you balance protection with competitiveness.
The rest — inspection, appraisal, final walk-through and closing — usually takes 30 to 45 days. Ask us anything along the way.