The steps to buy a house might seem complicated at first. It’s no wonder first time home buyers wondering how to purchase a home often feel overwhelmed. But if you dream of owning a home, it’s essential you know what to do and who to turn to, right? Plus, the home buying process is not as scary as it might seem at first. Just check out these 10 straightforward steps to buy a home, and you’re well on your way!

Steps to buy a house

1. Are you ready to become a homeowner?

Whether you’re becoming a homeowner for the first time or you’re a repeat buyer, buying a house is a financial and emotional decision that requires the experience and support of a team of reliable professionals. These folks know how to purchase a home from beginning to end, so lean on them! That’s what they’re there to do.

2. Get a Realtor®

In the maze of forms, financing, inspections, marketing, pricing, and negotiating, it makes sense to work with professionals who know the community and much more. Those professionals are the local Realtors who serve your area.

3. Get a mortgage pre-approval

Most first-time buyers need to finance their home purchase, and a consultation with a mortgage lender is a crucial step in the process. Find out how much you can afford before you begin your home search.

4. Look at homes

A quick search on our site will bring up thousands of homes for sale.  Educating yourself on your local market and working with an experienced Realtor can help you narrow your priorities and make an informed decision about which home to choose.

5. Choose a home

While no one can know for sure what will happen to housing values, if you choose to buy a home that meets your needs and priorities, you’ll be happy living in it for years to come.

6. Get funding

The cost of financing your home purchase is usually greater than the price of the home itself (after interest, closing costs, and taxes are added). Get as much information as possible regarding your mortgage options and other costs.

7. Make an offer

While much attention is paid to the asking price of a home, a proposal to buy includes both the price and terms. In some cases, terms can represent thousands of dollars in additional value—or additional costs—for buyers.

8. Get insurance

No sensible car owner would drive without insurance, so it figures that no homeowner should be without insurance, either. Real estate insurance protects owners in the event of catastrophe. If something goes wrong, insurance can be the bargain of a lifetime.

9. Closing

The closing process, which in different parts of the country is also known as “settlement” or “escrow,” is increasingly computerized and automated. In practice, closings bring together a variety of parties who are part of the real estate transaction.

10. What’s next?

You’ve done it. You’ve looked at properties, made an offer, obtained financing, and gone to closing. The home is yours. Is there any more to the home-buying process? Whether you’re a first-time buyer or a repeat buyer, you’ll want to take several more steps.

Bottom line: the steps to buy a home require a lot of work, but once you get to the end, you’ve got a pretty sweet reward!