Buying your first home is an exciting milestone—but it can also feel overwhelming without the right guidance. That’s why we’ve put together this step-by-step checklist to help you feel prepared, confident, and in control throughout the process.
✅ 1. Check and Improve Your Credit Score
Your credit score plays a major role in determining your mortgage rate.
-
Tip: Aim for a score of 700+ for better loan terms.
-
Action: Review your credit report, pay down debts, and avoid taking on new credit before applying for a mortgage.
✅ 2. Determine What You Can Afford
Know your budget before house hunting.
-
Calculate your monthly income and expenses
-
Use the 28/36 rule: Your monthly mortgage should be no more than 28% of your gross income, and total debts should not exceed 36%.
✅ 3. Get Pre-Approved for a Mortgage
A pre-approval shows sellers you’re serious and financially ready.
-
Documents Needed: Proof of income, employment, credit report, bank statements
-
Bonus: It helps define your price range and strengthens your negotiating power.
✅ 4. Choose the Right Real Estate Agent
Your agent is your partner in the journey.
-
Look for someone with local expertise, a track record of success, and great communication.
-
At Return Wise Realty, we pride ourselves on being first-time buyer-friendly.
✅ 5. Identify Your Needs and Wants
Make a list of must-haves (number of bedrooms, location, proximity to work/school) versus nice-to-haves (swimming pool, walk-in closet).
This keeps you focused and prevents impulsive decisions.
✅ 6. Start House Hunting (Smartly)
Visit open houses, book showings, and take notes.
-
Don’t rush—explore different neighborhoods and compare options.
-
Use virtual tours and online listings as well.
✅ 7. Make a Competitive Offer
When you find “the one,” your agent will help you craft a strong offer.
-
Consider market conditions—are homes selling fast? Are prices negotiable?
-
Be prepared for counteroffers and negotiations.
✅ 8. Schedule a Home Inspection
Never skip this step!
A professional inspection reveals hidden issues like roofing problems, plumbing concerns, or structural flaws—saving you from costly surprises.
✅ 9. Secure Financing and Finalize the Loan
Once your offer is accepted and inspection clears, work with your lender to complete the paperwork.
-
Lock in your interest rate
-
Submit required documents promptly
-
Review the loan estimate and closing disclosure
✅ 10. Close the Deal
You’ll attend a closing meeting to sign all the legal documents and officially transfer ownership.
-
Bring: ID, down payment (usually via certified check), and patience—it takes time.
-
After this, the keys are yours!
✅ 11. Move In and Celebrate!
Congratulations, you’re officially a homeowner!
Plan your move, set up utilities, and settle into your new space.
🎉 Bonus Tip from Return Wise Realty:
Always plan for post-purchase costs like home maintenance, utilities, property taxes, and insurance. We help you prepare for the full picture—not just the purchase.