There are many reasons for purchasing a home. Some of us fortunate ones come into money, or finally save up enough. Others are tired of renting and are ready to settle down. Regardless of your situation, follow these ten steps to buying a home to have a good idea of what to do and where to start.

  1. Research Research Research

    If you aren’t set on one particular property, but have an idea of a certain area, take time to do your research. You can find a lot of information from sites like Zillow that will provide information about different neighborhoods. This will provide you with information about current homes for sale, school scores, and other important factors.

  2. What Price is Right

    The more you can put down, the better. Lenders typically want you to put down 20% of the house price. It’s also preferred to stay around 3-5 times your annual household income. This of course is all based on your own judgement, and what you can work out with a mortgage lender.

  3. Get Prequalified and Pre-Approved

    Prior to looking, find the right mortgage lender for you and find out what you qualify for. The person you choose to assist you in this process should be someone you can have a good relationship with. Feel them out and ask as many questions as you can think of. If you aren’t comfortable with the first lender, find someone you jive with.

  4. The Real Estate Agent

    The mortgage lender is important, as is the real estate engine. This person is going to spend a lot of footwork helping you get the home of your dreams (within your budget). Similar to the lender, dump the ones you don’t like, and befriend the ones you do. Ask your friends and family if they recommend anyone, or those you trust.

  5. Shop and Make an Offer

    Once you do your homework and find the perfect home, have your agent submit an offer. As your shopping around, make notes of each house and have checklists of the good, bad, and uglies about each one. Putting in an offer does not commit you to anything.

  6. Home Inspection is I M P O R T A N T

    Consult with your agent about what inspections are right for you. Contact Marquette Inspection to get the best inspection in the area. A home inspector will be able to provide you with all the information about the house and what you need to do with that information. Read more about inspections here.

  7. Get a Loan

    Once you have selected your mortgage lender, picked your dream home, and submitted your offer, start the process of getting the loan. You’ll need lots of information about yourself and your financial situation. The mortgage lender will guide you through this.

  8. Have the Home Appraised

    Your mortgage lender will arrange for an independent estimate of the value of the home. This will give you knowledge if you’re getting a good deal for your arrangement.

  9. Organize Paperwork

    You will be set up with a title company at this point to arrange for the proper passage of ownership. There’s a lot of paperwork involved, so hold on and stay organized!

  10. Close the Sale!

    Congratulations, you’re just about to start the first day of your future in your new home. You may want to rest your writing hand as you’ll be signing a lot of documents. Make sure to ask questions so you know what you’re signing. Once the seller receives the check, you’ll be moving in to your new home!

Client Testimonials

Scott L.

Great job and very thorough. You saved me a lot of work!

Nancy W.

Thank you so much. This is the first house I have bought. You helped me through the process and saved me a lot of money.

Jason L.

Great work. We appreciate your knowledge and professionalism. We will be sure to call you when we find another house to buy.