Home Buying Checklist

Initial Preparation

• Assess Your Financial Situation
  • Check your credit score.
  • Calculate your debt-to-income ratio.
  • Determine your budget and how much you can afford.
• Save for a Down Payment and Other Costs
  • Save for a down payment (typically 20% of the home’s price).
  • Set aside money for closing costs (2-5% of the purchase price).
  • Budget for moving expenses and initial repairs or furnishings.
• Get Pre-Approved for a Mortgage
  • Research and compare mortgage lenders.
  • Gather necessary documents (income, assets, debts).
  • Get pre-approved for a mortgage to know your borrowing limit.

House Hunting

• Identify Your Needs and Wants
  • List your must-haves (location, size, features).
  • Consider your wants (nice-to-have features).
  • Be realistic about what you can afford.
• Start Looking at Homes
  • Browse online listings and visit open houses.
  • Schedule home tours with your real estate agent.
  • Take notes and photos to compare properties.

Making an Offer

• Make a Competitive Offer
  • Work with your agent to determine a fair offer price.
  • Include contingencies (financing, inspection).
  • Be prepared for negotiation.
• Submit Your Offer
  • Complete and sign the offer documents.
  • Submit the offer to the seller’s agent.
  • Await the seller’s response.
• Negotiate if Necessary
  • Review any counteroffers with your agent.
  • Decide on your next steps (accept, counter, or reject).

Closing the Deal

• Get a Home Inspection
  • Hire a licensed home inspector.
  • Attend the inspection and ask questions.
  • Review the inspection report.
• Secure Financing
  • Complete the mortgage application process.
  • Submit any required documents to your lender.
  • Receive a loan estimate and closing disclosure.
• Conduct a Final Walkthrough
  • Schedule a final walkthrough with your agent.
  • Ensure all agreed-upon repairs have been made.
  • Confirm that the property is in the agreed-upon condition.
• Close the Deal
  • Review and sign all closing documents.
  • Pay closing costs and down payment.
  • Receive the keys to your new home.

Moving In

• Plan Your Move
  • Schedule movers or rent a moving truck.
  • Pack your belongings.
  • Label boxes for easy unpacking.
• Set Up Utilities and Services
  • Transfer or set up new utility accounts.
  • Set up internet, cable, and other services.
• Unpack and Settle In
  • Unpack and arrange your belongings.
  • Familiarize yourself with your new neighborhood.
  • Update your address with important contacts (banks, postal service, etc.).