How to Buy A Home For the First Time

So you’re going to buy a home!  Congratulations.  Here are some quick tips to buying your first home.

Phase I.  Preparation.

  1. Select a Realtor.  They will be working for you.  Using a Realtor is will save you time, money, and they will help you find your ideal home.  They do this every day.  They will get you on the right track.
  2. Select a Lender.  They will be working for you.  They will be able to tell you how much you should expect to put down for the house, and how much of a home you can afford.
  3. Get a letter of pre-approval.
  4. Set your budget. 
  5. Select your location.
  6. Decide FOUR ESSENTIALS that you must have in your home.  Yard?  3-car garage? 3 bedrooms?  Swimming pool?  Don’t waste your valuable time looking at homes with only 2 bedrooms when you need 4 bedrooms.

Phase II.  Finding.

  1. Digital Shopping.
  2. Driving the Neighborhoods.
  3. For Sale by Owner.
  4. Scheduling with your Realtor.

Phase III.  The Offer.

  1. Making the offer.
  2. How to back out, or Contengencies.
  3. Negotiating
  4. Under Contract.

Phase IV.  Due Diligence.

  1. Schedule the inspection.
  2. Repairs to property.
  3. Schedule the appraisal.
  4. Complete loan process.
  5. Sign Documents.

Phase V.  Homeownership.

Congratulations!  You are a homeowner.