How To Buy A Home
Victoria Furdui • August 28, 2024
Check Your Financial Health
Make sure your credit score isn’t a horror show. Lenders like to see a score above 620. Also, have a solid down payment ready—usually around 20% of the home’s price unless you enjoy paying for private mortgage insurance (PMI).
Determine Your Budget
Be realistic about what you can afford. Mortgage calculators can help, but don’t forget other expenses like property taxes, insurance, and maintenance.
Get Pre-approved for a Mortgage
This shows sellers you’re serious. Plus, it gives you a clear picture of how much a lender is willing to give you (or not).
Find a Real Estate Agent
A good one will help you navigate the jungle that is the housing market. They’ll guide you through listings, negotiations, and paperwork.
Start House Hunting
This is the fun part—until it’s not. Be patient, and don’t settle for a house that doesn’t meet your needs.
Make an Offer
Once you find “the one,” make an offer. Your agent will help you decide on the right amount and negotiate the terms.
Get a Home Inspection
Don’t skip this. It can save you from buying a money pit disguised as a house.
Close the Deal
If everything checks out, you’ll go through the closing process, which includes a ton of paperwork and handing over your down payment.
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