1. Decide to Buy

Although there are many good reasons to buy a home, wealth building ranks high on the list. We call homeownership the best “accidental investment” most people ever make. But when done right, homeownership becomes an intentional investment that lays the foundation for a life of financial security and personal freedom. There are solid financial reasons to support your decision to buy a home—among them, equity buildup, value appreciation, and tax benefits.

Base your decision to buy on facts, not fears:

• If you’re paying rent, you very likely can afford to buy.
• There’s never a wrong time to buy the right home. All you need to do is find a good buy and ensure you have the financial means to hold it for the long run.
• A lack of a substantial down payment doesn’t necessarily prevent you from buying your first home.
• A less-than-perfect credit score won’t automatically stop you from becoming a homeowner.
• The best way to move closer to your dream home is to buy your first home now.
• Buying a home doesn’t have to be complicated—there are many professionals who will guide you every step of the way.

2. Hire Your Agent

The typical real estate transaction involves at least two dozen professionals—insurance assessors, mortgage brokers and underwriters, inspectors, appraisers, escrow officers, buyer’s agents, seller’s agents, bankers, title researchers, and more. It is your real estate agent’s job to expertly coordinate all of these moving parts and act as your advocate throughout the process.

Seven main roles of a buyer’s real estate agent:

• Educates you about the market
• Analyzes your wants and needs
• Guides you to homes that meet your criteria
• Coordinates the work of other professionals
• Negotiates on your behalf
• Reviews and manages paperwork and deadlines
• Solves problems that may arise

3. Secure Financing

While the idea of homeownership is exciting, taking on a mortgage can feel daunting. Many first-time buyers feel confused or nervous about the process. That’s completely normal.

From start to finish, you’ll follow a six-step, easy-to-understand process to secure financing for your first home.

Six steps to financing a home:

• Choose a loan officer (or mortgage specialist).
• Submit a loan application and get pre-approved.
• Determine your budget and select a loan option.
• Provide the lender with an accepted purchase offer.
• Complete an appraisal and title commitment.
• Obtain final loan approval and funding at closing.

4. Find Your Home

Shopping for homes doesn’t start with jumping in the car. While touring homes is often the most exciting part of the process, it should be preceded by a thoughtful assessment of your values, needs, and priorities—for both the short and long term.

Questions to ask yourself:

• What do I want my home to be close to?
• How much space do I need, and why?
• Which is more important: location or size?
• Am I open to a fixer-upper?
• How important is property value appreciation?
• Is neighborhood stability a priority?
• Would I consider a condo?
• Would I consider new construction?
• What features and amenities do I want? Which ones do I truly need?

5. Make an Offer

When you’re searching, you’re a dreamer. But when you write an offer, you need to become a businessperson. This part of the process requires a cool head and realistic understanding of your market.

Three basic components of an offer:

Price – The right price should fairly reflect the current market value. Your agent will conduct market research to guide you.

Terms – These include financial and timing factors in the offer.

Terms fall into six categories:

• Schedule – Timeline of events before closing
• Conveyances – Items that stay with the house (appliances, fixtures, etc.)
• Commission – Real estate commission for both agents
• Closing Costs – Typically paid by the buyer unless negotiated into the loan
• Home Warranty – Coverage for repairs or replacements; may be requested from the seller
• Earnest Money – A deposit to show you’re serious and protect the seller

Contingencies – Conditions that must be met for the contract to proceed (e.g., financing, appraisal, inspections)

6. Perform Due Diligence

Unlike most major purchases, you can’t return a home after buying it. That’s why inspections and insurance are essential.

Homeowners insurance protects you by:

• Covering damage or loss to the property
• Providing liability coverage if someone is injured on your property

A professional property inspection helps you:

• Identify hidden or structural issues
• Avoid major repair surprises after closing
• Bring in specialists for serious concerns
• Walk away if a major issue is uncovered and cannot be resolved

Don’t sweat the small stuff—minor repairs are usually manageable. Focus on the big picture.

7. Close

The final stage of the process involves the lender confirming the home’s value and legal status, along with a last look at your credit and finances. This includes a survey, appraisal, title search, and final loan approval.

Your agent will keep you informed, but you’ll have a few final responsibilities:

Pre-closing checklist:

• Stay financially stable (avoid major purchases or job changes)
• Respond promptly to calls and paperwork requests
• Communicate regularly with your agent
• Confirm with your agent that all documentation is in order
• Obtain certified funds for closing
• Conduct a final walk-through of the home

On closing day, you will:

• Finalize your mortgage
• Pay the seller
• Pay your closing costs
• Transfer the title
• Record the transaction as a public record

With clear expectations and proper guidance, closing will be a celebratory conclusion to your buying journey—and the beginning of homeownership.

8. Protect Your Investment

Throughout this process, you’ve built a relationship with your agent. Just because the deal has closed doesn’t mean that relationship ends. Your agent can continue to be a valuable resource.

After closing, your agent can help you:

• File your first tax return as a homeowner
• Find trusted contractors for maintenance or renovations
• Refer friends or family to buy or sell
• Track your home’s market value over time

Maintaining your home protects your investment.

Home maintenance falls into two categories:

• Routine care – Keep systems and appliances in good condition based on age and type
• Monitoring – Watch for leaks, wear, or damage. Fixing small problems early can prevent costly repairs down the line