First-Time Home Buyers: Start Here
Buying your first home is a big decision, but it doesn't have to be confusing. It comes down to 10 steps, done in order. Here's what each one involves and where to learn more.
Get my free First-Time Buyer Roadmap →
Plan
1. Decide why and when. Think about how long you plan to stay and when your lease ends. Buying usually makes the most sense if you'll stay at least a few years. Read: Renting vs. Buying in Central Texas: How to Know You're Ready
2. Find your comfortable monthly payment. Start with the payment you're comfortable with, not the most a lender will approve. Include taxes, insurance and any HOA, MUD or PID fees. Leave room for repairs and savings so you're never house poor. Try: Mortgage Calculator
3. Check your credit. Pull your free credit reports, fix any errors and keep your balances low while you shop.
4. Plan your cash. You'll need money for the down payment, closing costs, the option fee and earnest money, plus a cushion after you move in. You may not need 20% down.
Prepare
5. Talk with lenders and get pre-approved. Compare at least two or three lenders. A pre-approval, not just a pre-qualification, shows sellers you're ready to buy. Read: Getting Pre-Approved
6. Choose your buyer's agent. In Texas, you'll sign a written buyer agreement before an agent can advise you on homes. Your agent works for you, not the seller. Read: Buyer Representation: Do You Need an Agreement?
Shop
7. Shop smart. Know your must-haves and your nice-to-haves. There is no perfect home, so be picky but realistic. Lean on one or two trusted people for opinions, not everyone you know. Read: Open House & Touring Homes Etiquette
8. Make your offer. I'll help you set the price, option period, earnest money and any requests, like asking the seller to pay for a home warranty.
Close
9. Use your option period well. Schedule your inspection right away, and decide on repairs or next steps before the deadline. Read: Option Period Explained
10. Close and get your keys. Do a final walk-through, sign at the title company and move in. Then file your homestead exemption. Read: Homestead Exemption: How to Apply
Ready to start?
My free Roadmap has worksheets and checklists for each step. Get the Roadmap, or call or text me at (512) 629-9050. I'm happy to help, with no pressure.
