When you start thinking about buying your first house, it’s easy to let your emotions run the show. Before you know it, you’re stalking homes for sale on your home-browsing app, rearranging your schedule so you can do drive-bys, and researching creative financing options that would allow you to buy a house with next to nothing down.
It’s all too easy to land in a house you can’t afford, and that mistake can affect your ability to build wealth in the long run. But understanding the steps of the home-buying process empowers you to make smart decisions about your home purchase.
How to Buy a House in 7 Steps
Let’s take a deep breath. Buying a house takes time. And no house—even that perfectly cute bungalow on the corner with the fenced-in backyard—is worth jumping into before you’re ready.
You know what’s more important than the house you buy? How you buy that house.
HERE ARE 7 SIMPLE STEPS FOR BUYING A HOUSE:
- Save for a down payment
- Get pre-approved for a mortgage
- Find a real estate agent
- Go house hunting
- Submit an offer
- Get a home inspection
- Close on your house
The decisions you make in the home-buying process can make a difference between a home that is a blessing to your family for years to come and a home that becomes such a financial burden that you feel like you can’t breathe.
Buying a house doesn’t have to be a stressful, draining experience. It can actually be a lot of fun, especially if you’re making smart decisions that focus on the long term. These tips will help you:
- Set realistic expectations for the home-buying process
- Calculate how much home you can afford and how much to save for a down payment
- Learn how to buy a house with confidence
- Define what to look for in your first house
- Know what to expect from contract to closing day