The Home Buying Process

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Home ownership is scary, especially if you’re all alone. Does it seem like a million miles away? Taking the first steps to owning a home are some of the biggest steps most will take in their life. Why do it alone when you can have someone there to help you? Having the right guidance and knowing the process is what will set you up for success.

Step 1 Make The Decision

Firstly, you need to make the decision to buy a home. Renting Is always an option but if you think about the big picture, renting isn’t an investment and most mortgages will equal a monthly rent. The decision to buy a home is the first part of the process. Home ownership is about more than pride, it’s about security, and investing in your future.

Step 2 Meet With A Lender

Up next is to meet with a lender. Come prepared. Know your assets, credit score, and any other financial information you may need. Be honest with your lender and ask for any suggestions or help. It’s a lenders job to provide you with resources and to further explain the different loan options.

Step 3 Pre-approval

Pre-approval! Make sure you are pre-approved before you go house hunting. It’s no fun to find out you weren’t approved and then have to wait longer before you can house shop. If you aren’t pre-approved, talk with your lender. They’ll explain the necessary steps towards achieving pre-approval. Although it takes work, anyone can own a home! Never forget that.

Step 4 Look For A Home

Finally, you’ve met with a lender and you were pre-approved for a mortgage. Now its time to find a home. Finding a home on your own is tough, but don’t worry, that’s where a realtor comes in. They work hard so you don’t have too. Not only will they find you a home but if you are trying to sell your current home, they’ll help with that too.

Step 5 Make An Offer

You’ve found the perfect home, spoken with your realtor, and you are ready to submit an offer. The best and scariest part of the home buying process. Homes can be off the market in an instant. A home you are thinking about making an offer on tomorrow could already be pending an offer today. Be quick and sure before you buy a home. Although you want to make sure the home is the one you want, you won’t have a lot of time to waste on decision making.

Step 6 Closing Table

You picked the perfect home and have submitted your offer. Now, you’re at the closing table and you are ready to sign the papers. Congratulations you’re a home owner. You’ve reached home ownership status and all that awaits you now is a huge investment and many memories you will make throughout the years.

Home ownership is a big step and understanding the process is important. Speak with a lender and have everything planned out ahead of time.