From developing your budget to signing your name on the dotted line, learn more about the home buying process.
Buying a home can be one of the most exciting experiences of your life. This can be true whether you’ve purchased several homes or you’re preparing to buy for the first time. With the right support system and the help of a trusted RE/MAX® professional, you can make the most informed decisions.
My guide breaks down the steps of buying a home so you can start the process feeling confident and prepared. From developing your budget to signing your name on the dotted line, you’ll find helpful tips right here. Plus, I am here to help every step of the way.
9 STEPS TO OWNING
Step 1 – Prepare to purchase
Before you start searching for a home, there are a lot of things you need to take into account. When you begin your search, you'll probably want to create a list of features you need to have, get a plan of what school districts you'd like to live in, and start working on your budget. A good principle to go by is that your mortgage payment should be 30 percent of your monthly income.
Step 2 – Get with the right real estate agent
This is where RE/MAX Gold comes in. I'd love to set up a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your future plans. We'll discuss neighborhoods, school districts in the area, the mortgage and housing industries, and any other economic factors that could potentially affect your buying decision today or in the future. I can also assist you with finding a lender to get you started in the process.
Step 3 – Start house hunting
After our first meeting, I'll begin searching homes on the market that are a good fit for you. I'll get a sneak peek of most of the houses, and then we'll book appointments to view the houses whenever it's most convenient for you. Viewing homes, I'll identify good & bad features, and ask about things you like and don't like. It's common for buyers to revise their list of must-haves as we tour houses and some items become more necessary than others.
Step 4 – Know the market
When working with an agent, be on guard and be sure to ask lots of questions, as every real estate agent in the area will convince you they comprehend the housing market. If it seems like they don't know everything, just call or e-mail me and I'd be happy to answer any questions you might have. My experience and market knowledge will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home you've been looking for
I'm certain we'll find your dream house, and when that happens, I'll carefully develop your purchase offer. The offer will be tailored exactly to your needs, such as getting financing, carrying out the home inspection, and a clean title.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the beginning offer – it's really common to receive a counter offer. Don't let it alarm you. We'll talk about whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and move on. How aggressively we negotiate the contract depends on market circumstances. We'll also work within your financing constraints. And when it's all said and done, we'll put together a deal that's best for you.
Step 7 – Secure financing
Upon finalizing the contract, you'll begin working with your mortgage lender to close the loan. If you've been pre-qualified, it won't take much time at all, but you need to stay in close contact with your lender. And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
ou'll get a Good Faith Estimate (GFE) detailing your closing costs from your lender within three days of taking your application. The estimate is based on the loan amount, and RESPA requirements order that it has to include all closing costs and be within a close range of accuracy. I'll study the estimate and let you know if it all looks okay. Then we'll close on your home. This should take place at a title company or escrow office and will probably be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, always know you can reach out to me anytime!
The Tools to Help You Find Your Home
Once you’ve defined your home search goals, discussed them with your RE/MAX agent, and have spoken with a mortgage professional to see what your buying power is — you’re ready to find your dream home! In addition to my local knowledge as a real estate agent, I offer online tools that can help make your initial search as easy as possible.
Find a Home Using My Interactive Map Search
I know that location plays an important role in the home buying process. Use the map search available on my website to view homes located in or near the area you love.
Get to Know the Neighborhood
Feel confident and informed about your neighborhood choice! On any listing page, you can learn more about the communities you are interested in, including a breakdown of the local population, school ratings and more.
Create an Account on My Website
Sign up for an account on my website to save searches, favorite homes you love, receive real time property alerts, and more!
Download My RE/MAX Mobile App
Available for iOS and Android devices, my app brings the same experience found on my website to your smartphone or tablet. Save searches, favorite listings and schedule showings — all while on the go!