first time home buyer

Your Step-by-Step Guide to Achieving Homeownership with Confidence and Ease

first time buyer journey: 5 simple steps to homeownership

  • step 1: assess your readiness and secure financing

    Objective: 

    Ensure you're financially ready and pre-approved for a mortgage.


    Actions: 

    Evaluate your financial situation, credit score, and savings. Research mortgage options and get pre-approved to determine your budget.

  • step 2: define your criteria and start your search

    Objective: 

    Identify your home preferences and begin looking for properties.


    Actions: 

    List your must-haves and nice-to-haves, prioritize them, and work with a real estate agent to explore available listings. Attend open houses and schedule showings.

  • step 3: make an offer and negotiate

    Objective: 

    Secure the home you want.


    Actions: 

    Make a competitive offer with the help of your agent and be prepared to negotiate terms with the seller.

  • step 4: conduct inspections and close the deal

    Objective: 

    Ensure the home is a good investment and finalize your purchase.


    Actions: 

    Hire a professional inspector, complete the appraisal process, and review and sign closing documents to transfer ownership.

  • step 5: move in and settle

    Objective: 

    Transition smoothly into your new home.


    Actions: 

    Arrange for moving services, set up utilities, and unpack. Explore your new neighborhood and maintain your home to protect your investment.

buy vs rent: making the right choice for you

buy

  • Equity Building: Monthly mortgage payments contribute to your ownership, building equity over time.
  • Stability: Enjoy the stability of fixed monthly payments and the security of owning your home.
  • Customization: Freedom to renovate and customize your home to fit your tastes and needs.
  • Investment Potential: Property values may increase over time, providing a potential return on investment.
  • Tax Benefits: Mortgage interest and property taxes may be tax-deductible.
  • Pride of Ownership: A sense of pride and accomplishment that comes with owning your own home.


rent

  • Flexibility: Easier to relocate without the need to sell a property, ideal for short-term living.
  • Lower Initial Costs: Typically requires a security deposit and first month's rent, lower upfront costs than buying.
  • Maintenance-Free: Landlords are responsible for maintenance and repairs, reducing your responsibilities.
  • No Market Risk: No concern about property values fluctuating or affecting your investment.
  • Amenities: Access to amenities like pools, gyms, and security without extra costs.
  • Simplified Budgeting: Predictable monthly rental payments without unexpected home repair costs.


resources

resources to help you buy your first home

Curated buyer resources to help guide you in purchasing your home.

Relocation Resources Download