You’ve been searching for your dream house online and looked at paint colors at the hardware store. Thoughts of relaxing in your private backyard fill you with joy. Most importantly, you’ve been building a nest egg to help with the down payment. You are ready to make your first home purchase.
But wait! You realize you have no idea what you are doing. That’s okay! Here’s a timeline that can help you better understand the process of buying a home.
Ready to buy a home in the area? View our Las Vegas listings.
Steps to Buying a Home: The Home Buying Process
Here are steps you’ll need to complete to start the process. It isn’t as confusing as it seems, especially with help from a licensed realtor.
One Year Before
Check Your Credit Report – You can request one free copy of your report from the credit bureaus once a year. Make sure you don’t have any errors that could lead to problems securing a home loan.
Make Sure You Have a Down Payment – In general, 20% of a property’s price is needed for most mortgages. Never fear, you may qualify for a Dept of Housing and Urban Development program to help with these costs.
Nine Months Before
Visit Open Houses – Now you can search for homes and check out neighborhoods.
Find your Realtor – A good realtor can be a big help in this process. Make sure you find someone you trust.
Research Lenders – A mortgage broker can help you find competitive rates.
Three Months Before
Get pre-approved – Talk to your lender and get the loan process started. Here you’ll find out how much you’ll be allowed to borrow. Now you can narrow down your home choice!
Two Months Before
Make An Offer – Make an offer on a home. If accepted, be sure to hire a house inspector to look for any issues with the property. Also, get a home insurance policy.
One Month Before
Final Walkthrough – Make sure the home is in perfect condition for your move-in!
In general, 20% of a property’s price is needed for most mortgages.
Moving Out Checklist
You’ve done it! You’ve successfully purchased your first home. Soon after closing on the sale, you will need to pack up all of your belongings and coordinate your move.
Here are the steps for a successful move broken down for you in a simplified checklist.
Two Months Before
Research Moving Companies – Find out the best prices for movers. If you are going to move yourself, contact truck rental companies and purchase moving supplies.
Begin Clearing Clutter – Moving is the time to get rid of items that you no longer use. You can donate to a charity or have a yard sale.
Six Weeks Before
Start Packing! – It’s not too early. Give yourself plenty of time so you won’t be rushed at the end.
Reserve Your Moving Trucks/Hire the Moving Company!
One Month Before
Contact Utility Companies – Let them know that you will be moving soon and set up the appointment to begin service.
Two Weeks Before
Update Your Address – You can easily change your address online with the Postal Service. All your magazines, subscriptions, and bills will find you after the move.
Notify Other Businesses – Change your address with your credit card companies and your bank. Notify any other important businesses that frequently use your address to contact you.
One Week Before
Contact the Moving Company – Call your moving company to check that your reservation is set.
There you have it! You’ve successfully purchased your new home, moved out of your old residence and kept your sanity. Enjoy a well-deserved sip from a cool drink in your new backyard.
