On closing day, you’ll sign a mountain of paperwork, wire your down payment and closing costs, and finally receive the keys. It’s an exhausting day, but it’s the moment you officially transition from tenant to homeowner. Final Advice
Don't drain every penny. You’ll need a "maintenance fund" for the inevitable leaky faucet or lawnmower purchase that happens the week you move in. 2. The Pre-Approval Power Move guide to buying a home first time buyer
A "pre-qualification" is a quick estimate; a is a lender’s commitment to lend you a specific amount. In a competitive market, sellers won’t even look at your offer without a pre-approval letter. This step also helps you set a realistic budget so you don't fall in love with a house you can't afford. 3. Assemble Your Team You don't have to do this alone. On closing day, you’ll sign a mountain of
Before looking at listings, look at your bank account. You need to account for three main costs: You’ll need a "maintenance fund" for the inevitable
Shop around. Even a 0.5% difference in interest rates can save you tens of thousands of dollars over the life of a 30-year loan. 4. The Hunt and the Offer
Budget an additional 2% to 5% of the home’s purchase price for taxes, lender fees, and title insurance.
A good Realtor is your advocate. They find listings, schedule viewings, and—most importantly—handle the intense negotiations. In many cases, their commission is paid by the seller, making their expertise free for you.