There’s A LOT more to the house hunting process than just looking at a pretty house and writing an offer. “Buying a home” is a fantastic goal. There are just some steps in between that I think you should consider making your goals instead.
#1 save for that down payment. Every month.
Most of my clients have taken advantage of 3-3.5% down payments. That’s great! But don’t forget that cash to close. That is going to be an additional 3-5%. Which means buying a home will cost you a good amount of money to get to the closing table. Commit to putting a certain amount of $ away every month to work towards your goal.
#2 Meet with a lender
(About 4-6 months out from your wanted move date) You’ll need a bit of paperwork to get that pre-approval: tax returns, w2s, 1099s, bank statements etc. Your lender is going to know EXACTLY what they need from you in order to get you pre-approved for the best amount. Listen to them. Get them what they need as soon as they ask for it. They are on your side!
#3 Pay attention to the market
You can start doing this NOW! Scroll through homes on Zillow of the area you want to be at. Pay attention to list and sale price and days on market. Knowing a little bit about the market will help you shop with confidence!
#4 Decide if house hacking is right for you
House hacking is where you rent out your home (or portion of it) in order to cover costs and generate additional income
There’s TONS of ways to house hack. Renting a room out. Finding a duplex. Renting out the basement. Renting out the ADU in your backyard.
House hacking can be an AWESOME way to pay up it mortgage down and also gain equity. But it’s not for everyone. You become a landlord in this situation, so make sure you are ready for that if you choose this path!
#5 Call me when you’re ready.
After meeting with a lender and narrowing down your location and wants and needs, it’s time to call an agent. For those in Colorado I got you! For those in other states, still reach out. I have some amazing agents in my Rolodex and would love to help out in that search!