Buying your first home doesn’t have to be confusing. Here’s the quick path from “thinking about it” to “keys in hand.”
1) Prep Your Budget
- Estimate a comfortable monthly payment (include taxes, insurance, HOA, utilities, and maintenance).
- Save for down payment (3–5%+ common) and closing costs (~2–4%).
- Check/boost credit; avoid new debt if you’ll buy soon.
2) Get Pre-Approved
- A solid pre-approval letter shows sellers you’re ready and clarifies your true price range.
- You’ll typically provide pay stubs, W-2s/1099s, bank statements, ID, and consent for a credit check.
3) Define Needs vs. Wants
- Must-haves: beds/baths, commute, yard/pets, parking, one-level living, office space.
- Nice-to-haves: finish level, extra flex room, dream yard/porch.
We’ll tailor showings to fit your life—not just your wish list.
4) Tour Smart
- Evaluate layout, light, and condition (roof, windows, HVAC, moisture signs).
- Drive the neighborhood at different times; test commute; note parks and groceries.
- Think ahead: easy updates can beat a “perfect” but overpriced home.
5) Make a Competitive Offer
- We’ll price using recent comps and condition.
- Choose strong terms: earnest money, inspection/financing timelines, closing date, potential seller concessions.
- In multiple offers, we use strategy—not just price.
6) Inspection & Appraisal
- Inspection: understand systems and safety; negotiate repairs or credits if needed.
- Appraisal: confirms value for the lender; if low, we’ll guide renegotiation or alternatives.
7) Underwriting, Closing & Keys
- Respond quickly to lender requests.
- Review your Closing Disclosure (final numbers).
- Final walk-through → sign → funds wire → recording + keys 🎉
Common Pitfalls to Avoid
- Shopping before pre-approval
- Focusing only on list price (ignore taxes/HOA/utilities)
- Big purchases or new credit during escrow
- Waiving key protections without a plan
Typical Timeline
- Pre-approval: 1–3 days
- Home search: 1–8+ weeks
- Offer to close: ~30 days (cash can be faster)
Quick FAQ
- Down payment? Many first-timers use 3–5%; VA/USDA/FHA may allow lower (if eligible).
- Buy points? Depends on how long you’ll stay—your lender + our team will model the break-even.
- Gift funds? Often allowed with documentation.
Ready to Start?
- Get pre-approved (we can connect you to trusted local lenders).
- Tell us your must-haves, and we’ll set a custom search.
- Tour on your schedule—nights and weekends included.
Let’s make your first home happen!
The Alexis Real Estate Team