EXPLAINED: The Path to Home Ownership

home renovation tips

Trying to buy a home and have NO idea what to do? Well, fear no more because we are here for you! We know that buying a home can be a scary and stressful process, so we wanted to help you out with this detailed post. You will have no more questions about what to do when buying a home because this post will explain it all!

If you do end up having any questions, head to our website and fill out the contact form! We will be in touch within 24 hours.

 

The Path to Home Ownership:

Step 1: Save for your down payment

‑ What is a down payment? —> the amount of money a home buyer pays directly to a seller to help fund the purchase of the home!

 

Step 2: Know your credit score
‑ Why is this important? —> lenders use your score to determine how risky it would be to loan you money when purchasing a home!

 

Step 3: Find a Real Estate Agent
‑ Why do I need an agent? —> realtors can help you with any and all questions you might have! They are professionals who are trained and KNOW what they are doing!

 

What do I need to do to buy a home?

 

Step 4: Get Pre‑Approved
‑ What does it mean to get pre‑ approved? —> it provides an extra measure of security to a seller that you are both willing AND able to buy the house!

 

Step 5: Find a Home
‑ This is probably the easiest step, but still comes with its challenges! A realtor can be your best friend in this process and can find your DREAM home!

 

Step 6: Make an Offer
‑ This is exactly as it sounds! You and your realtor will negotiate an offer together to propose to the seller, and if all goes well, the offer gets accepted!
‑ If the seller does not like your first offer, you can come back with a different offer and work things out, so don’t stress!

 

Step 7: Have a Home Inspection
‑ What is a home inspection? —> a home inspection can include but is not limited to: plumbing issues, water damage, damage to insulation, structural damage, defects in the heating and cooling system, electrical issues, and so much more!
‑ Not every home will have major issues, but it is always good to double check just in case!

 

What do I need to do to buy a home?

 

Step 8: Get a Home Appraisal
‑ What is a home appraisal? —> it is an objective estimate of the value of a home. A licensed appraiser will come in and provides the home appraisal using the condition, location, comparable sales, and market trends of your property!

 

Step 9: Close the sale
‑ Closing is the final step before move in and the most exciting! Your closing date is the day you become the legal owner of your new home!
‑ Closing periods can last 1‑4 weeks depending on the decision between you and the seller!

 

Step 10: Move in!
‑ HURRAY! You are officially moved in and can enjoy your beautiful home stress free

 

 

And that’s it! Pretty simple right? We hope this post helped minimize your stress levels and made you excited to buy a home, like you should be! Again, if you have any questions, head to our website and fill out the contact form! We will be in touch within 24 hours.