As a first-time buyer, you want an expert in your corner. A buyer’s agent helps you find listings, schedules tours, and—most importantly—handles the intense negotiations. In many cases, the seller pays the agent's commission, meaning their expertise may come at no out-of-pocket cost to you. 4. The House Hunt
Once your offer is accepted, you are "under contract," but the deal isn't done yet. steps to buying home for first time
Set aside an extra 2% to 5% of the home’s purchase price for taxes, lender fees, and title insurance. 2. Get Pre-Approved As a first-time buyer, you want an expert in your corner
Before you look at a single house, look at your bank account. You need to know exactly what you can afford so you don't fall in love with a home that’s out of reach. Inspection and Appraisal
If the inspection and appraisal pass, you’ll head to the finish line. You'll do a "final walkthrough" to ensure the house is in the agreed-upon condition. At the closing meeting, you’ll sign a mountain of paperwork, pay your closing costs and down payment, and finally receive your keys.
Now for the fun part. Make a list of "Must-Haves" (number of bedrooms, school district) and "Nice-to-Haves" (granite countertops, hardwood floors).
When you find "the one," your agent will help you determine a fair offer price based on "comps" (what similar homes nearby sold for recently). You’ll submit an offer with an —a small sum that shows you’re acting in good faith. Be prepared for a counter-offer or a bidding war. 6. Inspection and Appraisal