1. Decide how much home you can afford. Generally, you can
afford a home equal in value to between two and three times
your gross income.
2. Develop a wish list of what you’d like your home to
have. Then prioritize the features on your list.
3. Select three or four neighborhoods you’d like to live
in. Consider items such as schools, recreational facilities,
area expansion plans.
4. Determine if you have enough saved to cover your
down payment and closing costs. Closing costs, including
taxes, attorney’s fee, and transfer fees average between 2
percent and 3 percent of the home price.
5. Get your credit in order. Obtain a copy of your credit
6. Determine how large a mortgage you can qualify for. Also
explore different loans options and decide what’s best for
7. Organize all the documentation a lender will need to
preapproved you for a loan.
8. Do research to determine if you qualify for any
special mortgage or downpayment-assistance programs.
9. Calculate the costs of homeownership, including
property taxes, insurance, maintenance, and condo association
fees, if applicable.
10. Find an experienced REALTOR who can help you through
New to the home buying process? Tell us your concerns. Ask
questions. It's our job to help! Let our team represent your best interests in your search for a new home.