Quick Answer
Buying your first home becomes much easier when you understand the process before you are in the middle of it. Lisa C Hamilton specializes in first-time buyers and helps clients move through the process one decision at a time.
1. Start With Your Goals
Think about location, property type, monthly comfort level, your likely timeline, must-haves and deal breakers before you start touring.
2. Talk With a Mortgage Professional
A lender can help you determine actual financing eligibility and the loan options available to you. Lisa handles the real estate side; lending advice should come from an appropriately licensed mortgage professional.
3. Understand the Payment
Use the Mortgage Calculator and the Affordability Calculator to understand your monthly payment. These are educational estimates, not approvals.
4. Search Strategically
Do not search only by pretty photos. Compare price, HOA, property condition, commute, location and the total monthly ownership cost across the areas that fit your list.
5. Research the Property
Once you have found a home, Property DNA can provide another layer of available information before you make a major decision. Reports are free, available nationwide, with no limit on how many you order, and delivered by email within about one hour during normal business hours; they are not a title search, title commitment, title insurance, appraisal, inspection, survey, or legal or tax advice.
6. Write the Offer
Price is only one term. The offer can also address concessions, inspection, financing, appraisal, closing date, possession and contingencies.
7. Inspection
A professional home inspection evaluates the property condition. Property DNA does not replace it.
8. Appraisal
If financing requires an appraisal, the lender generally orders it.
9. Final Loan Approval
Avoid major financial changes before closing without discussing them with your lender.
10. Final Walkthrough
Confirm that the property condition and agreed items match the contract.
11. Closing
Review the final documents, complete the required funding and sign the applicable documents. Then comes the part every first-time buyer has been waiting for: the keys.
Need more of the basics as you go? See how earnest money works and the common mistakes homebuyers make.
