7 Steps to Owning a Home

It may often times feel like an endless climb, but the truth is, traditional homebuying requires only seven steps to get you the home of your dreams.

Step 1: Building Credit
One of the first steps to ensuring you’re on the clear path to home ownership is your credit score. George Carlin said it best: “We buy [things] we don’t need, with money we don’t have, to impress people we don’t like.” If you live within your means, make payments on time, and limit your overall debt, then you’re more than halfway there.

Step 2: Get Pre-Approved
Before we even head out and look for homes together, you’ll want to get pre-approved. You can do this by way of connecting with a mortgage broker in your area. They’ll ask you for some essential paperwork like pay stubs, tax returns, car loans, etc., so get ready to do some digging if you don’t keep that sort of stuff on hand. But generally speaking, you should know how much you’ll be pre-approved for within a few business days.

Step 3: Find an Agent
Hi! There, step three is already done.

Step 4: Find the Right Property
The “right” property seems a bit vague, but what this infographic is really saying is, “the right property for YOU.” Once you complete steps 1-3, we’ll sit down and start to visualize the type of home you’re looking for. Every buyer is different, so this process is entirely catered to you and your wants/needs.

Step 5: Finance the Property
In not so many words, figure out exactly how you’d like to pay for a home, lay out all additional expenses such as utilities, landscaping, etc. and make sure you’re comfortable with the numbers.

Step 6: Make an Offer
And now we kick-off the offer game. Prepare yourself for the back and forth negotiation process. Once your offer is accepted and you enter into attorney review, that’s around the time when you’d like to start getting your ducks in a row: find inspectors, schedule appointments with the town inspections, get quotes from contractors for any work you might need done, etc.

Step 7: Close
Find a title company, assemble all your documents, and file the deed. Boom. You’re done.