How to buy your first home

1. FIRST STEPS

DETERMINE YOUR BUDGET

Include mortgage payment, property tax, home insurance, condo fees, utilities, and maintenance costs.

Calculate mortgage payments below.

GET PRE-APPROVED!

Contact a mortgage broker or lender. Do this to know your approval amount and lock in an interest rate for up to 4 months. 

2. HIRE AN AGENT

Hiring an agent is strongly recommended and the cost is typically paid for by the seller in the transaction.

A good Realtor will help you every step of the way, negotiate a better price, protect you from disaster, and ensure things go smoothly. It can be very difficult to buy a home without a good Realtor on your side. 

REALTOR HIRING CHECKLIST

a. Knowledgable in your area?
b. Experienced with your situation?
c. Are they easy to get a hold of?
d. Not too busy for you? 
e. Do you trust this person?
f. Understand your wants, needs, and goal?

3. WRITING AN OFFER

a. FIND THE PERFECT HOME

Your Realtor will find, schedule, and show you homes that fit your criteria. 

Take your time looking for the right home, but be quick and decisive when you find the perfect home. 

b. THE OFFER

Your Realtor will help you write an offer on the home. An offer is a lot more than just the price. 

A good Realtor can find ways to make your offer more appealing without increasing your price. Not all winning offers are the highest price!

Find out how we do it:

4. CLOSING

a. ACCEPTED OFFER

The next steps include submitting a deposit to secure the home then getting financing and due diligence completed. A good realtor will ensure everything is completed on time and smoothly.

b. WAIVING CONDITIONS

Once you have secured your financing and reviewed any reports such as the home inspection, you will sign a waiver to proceed with the home.
Now it is a FIRM sale!

c. FIRM SALE

Congrats on purchasing your first home! The hard part is done and now you need to meet with a real estate lawyer. At this point, waiting for possession day is the hardest part!