Starting The Home Buying Process Guide

Visit as many homes as possible to get a feel for different neighborhoods and what your money buys in the current market . Phase 3: The Offer and Closing

While 20% is ideal to avoid Private Mortgage Insurance (PMI) , some programs like FHA only require 3.5%.

Plan for an additional 2% to 5% of the purchase price for legal and administrative fees. starting the home buying process

Look for an agent who acts as your "quarterback," coordinating with lenders and inspectors. Define Needs vs. Wants:

Nice-to-haves like a fenced yard or a specific kitchen finish. Visit as many homes as possible to get

Your agent will help you draft a purchase agreement with contingencies (e.g., inspection or financing). Home Inspection and Appraisal:

Use an affordability calculator to estimate monthly payments. Experts suggest keeping total housing costs under 30% of your gross income. Save for Upfront Costs: Look for an agent who acts as your

Aim for 3–6 months of living expenses in reserve.