In 2021, over 6 million homes were sold in the United States. While some of these purchases were made by people buying second or even third homes, a vast majority were first-time owners.

Are you looking to join the group of first-time owners this year? That’s a smart move, but there’s a lot that needs to happen before you can become a homeowner. Buying a home isn’t as easy as you might think.

In this article, we're lifting the veil on the home-buying process, giving you a first-hand look into what to expect.

Let’s get into it.

Define What You Need in a House

In your mind, the process of buying a home probably starts when you start house-hunting and making offers.

This isn’t the case. Home buying doesn’t, and shouldn’t, start until you’ve defined what you need in a home. Going into the house hunting step without a clear picture of what you need can end up with you buying a house that doesn’t meet your living or housing needs.

As such, write down a home-buying checklist that has every feature you want the home to have, starting with the basics, then followed by secondary features.

How many bedrooms should it have, for example? How big should be the living space? If you have multiple cars, the garage and/or driveway should be large enough. Once you have been able to whittle it down, or at least have a concept of what you would ideally like, then you can go onto websites such as https://peregrinecolorado.com/, for example, and see what fits in with your wants and needs.

Get a Mortgage Pre-Approval

The majority of home buyers rely on mortgage financing. If you’re taking the same path, don’t wait until you’ve found the house you’d like to buy to apply for the mortgage.

First, get pre-approved. This is an indication that you meet your lender's requirements for the mortgage and it gives you an idea of how much house you can afford.

Just as important as getting pre-approved is choosing the right type of mortgage. Conventional loans are the most popular, but you could qualify for FHA or a VA loan. There are even VA loans for second-home buyers. Find more info here.

If you’re buying a home in cash, of course, you don’t need to go through this process. But it’s prudent to get your financial ducks in a row so that you’re buying a house that you can afford.

Remember, buying a house isn’t just about raising the asking price. You need to factor in the cost of insurance and maintenance as well.

Start Shopping for Your New Home

You can look for your dream home on your own by checking out homes for sale at the Delaware Beaches, or whichever location you are planning to move to, or hire a realtor to assist with the search. With an expert realtor, you’ll be introduced to more options that fit your requirements, have access to comparables that show you the true value of the home, and find homes not publically listed. When you use a realtor like randy ahmad, you'll find that your chances of finding that home of your dreams go up tremendously.

Making Offers and Closing the Deal

Once you’ve found the house you’d like to buy, the next step is to submit your offer to the seller. At this point, it’s advisable to have an experienced real estate agent on your side. It can take some negotiation to get your best offer accepted.

The next hurdle is to get final approval for your mortgage application. This can take several weeks, depending on the lender. The house closing follows soon after you get the approval.

Understand the Home Buying Process

The home buying process can be intimidating and exhausting for most buyers, but with an understanding of what to expect along the way, it can be easier on you. The most important thing is to get as much professional help as possible.

All the best, and keep reading our blog for more advice on homeownership.