Your Guide to Buying a Home

Whether this is your first or tenth home purchase, shopping for a new home is exciting. It can also feel stressful and time-consuming. This guide will help you stay organized and move into your new home smoothly.

Start Your Search

Before you visit your first open house or showing, ask yourself a few questions:

What is my budget?
Use a mortgage calculator to determine how much you can afford each month. Include principal, interest, property taxes, insurance, and maintenance costs.

What kind of home do I want?
Decide the number of bedrooms and bathrooms you need. Also consider lot size, neighborhood, school district, and interior or exterior features. Divide your wish list into three categories: must-have, nice-to-have, and deal-breakers. Browsing online listings on platforms like Zillow can help you see what is available.

Who can help me?
A Realtor or real estate agent can make the process easier, especially if this is your first home. Ask coworkers, family, and friends for referrals to trusted professionals.

Visiting Homes

Looking at homes can be fun when you know your budget, your preferences, and have a skilled agent. Attend open houses or schedule private showings. Inspect every room and feature carefully. Sellers expect buyers to check the home thoroughly.

Special Buying Circumstances

Certain situations can help you find a great deal:

Short Sale
A short sale occurs when a homeowner must sell but cannot cover their loan in full. Lenders approve these sales under strict guidelines. They may take longer to close but can offer significant savings. Consider this if your dream home is slightly out of budget.

Foreclosure
If a homeowner fails to pay their mortgage, the lender takes possession through foreclosure. Lenders usually want to sell quickly at a lower price. Inspect these homes carefully, as they may have been empty for months or years and could need repairs.

Starter Home
If your dream home is out of reach, look for a smaller, simpler home in a different area. A starter home allows you to begin building equity and move into a larger property later.