The average homebuyer will take between 30-45 days to purchase their home. But, if this is your first time starting the home buying adventure, it might take you a bit longer than someone that has done it before.

If you have been searching for a guide to home buying, you have come to the right place. Below you are going to find step-by-step information that will help you find the home that you have always dreamed of.

Hire the Right Agent

The first of many tips for home buying that we are going to offer you is to find a buyer's agent. Some people may try to forgo an agent altogether and find a home on their own, but there is a lot to home buying that you might not understand as a first-time buyer that an agent can help you understand.

Before making your final selection, take time to interview the agents available in your area. You will want to work with someone you can trust and who makes you feel comfortable because only then will you believe they have your best interest at heart.

The agent you choose to work with should also have extensive experience in the real estate agency and know the current listings in the area. Just because someone has a real estate license does not mean that they are competent to do their job.

Depending on the agent that you work with, they might have you sign a buyer's broker agreement. This is when you enter into a contract stating that you will not work with any other agent except them during the home buying adventure.

If you decide you do not want to work with that agent anymore, you will have to submit in writing that you are terminating your contract with them before you begin working with someone else.

Think About The Money

Purchasing a home is not going to be cheap, and it is for that reason that thinking about your finances falls into the second slot on this great adventure. There are several avenues you can take when it comes to home buying.

Before you begin to search for homes, the first thing you need to do is check your credit history and make improvements where necessary. Poor credit history can affect how much you get approved for when seeking financing from a lender.

If you have any current debt, do your best to pay off as much of your debt as possible each month. After you have done this, you can begin searching for a lender that will help you purchase the home that you want.

If you do not know about the type of home loans you can choose from, it is best to do your research beforehand. And once you have a good idea of the type of loan you want to take out, it is time to find a lender that is going to meet your needs.

If you are not sure about the possible lenders in your area, you can always ask your agent if they have any referrals. There is no need to worry about them referring someone they work with, because lenders are not allowed to provide agents with any form of compensation.

Types of Loans

The first type of loan you might look into is known as an adjustable-rate mortgage. This is when you are able to save more money upfront, because you have accepted a lower interest rate.

Loans that you might have heard of through other people who have purchased homes are the FHA, USDA, or VA loans. These are all loans that are classified as government-issued loans.

They are known for this because it makes it easier for people who qualify to become homeowners. The last mortgage loan we will touch on is the fixed-rate loan.

This is for people that want to know what they can expect to pay each month for their home. It is useful if you want to set a budget for your household expenses.

Get Pre-Approved

Do you have to get pre-approved before hunting for homes? No, you do not have to get pre-approved, but there are some people who are selling homes that will only take offers from those who get pre-approved beforehand.

Another reason you might want to get approved before looking at homes is so you have an idea of what you can afford. There is nothing worse than finding a home that you love, only to realize that it is not a home you can afford.

Once you have received your preapproval letter from the lender, make sure that you send it to your real estate agent so that they can find listings that will fit within your budget.

Look at Listings

Some agents are willing to send you listings as an additional service, but there are others that do not have time to do this and will require you to select the homes you want to see on your own. We recommend that you proceed with finding listings you want to tour and send them to your agent.

Make sure you are realistic about the things you want in a home before starting your search. Depending on the search engine you are using, you can filter it to only show you homes that fit within our desired needs.

After this, ask your agent to give you the specs of each property. This way, you know what you will be walking into before your tour and decide if you even want to take a tour.

The search engine you are using can even go as far as to show you the value of the homes in your area. This is useful, because if you plan to sell your home in the future, you will know what it is worth initially before you make your purchase.

Take a Tour

The next thing to do once you have decided which homes you want to see is take a tour of the properties. When you are on your tour, take time to make a note of any red flags that might mean you have to fork out more money to make necessary repairs once you have moved in.

If you want, you can also take photos of the listings to look over later on before you make your decision about making an offer on a property or not. Once you have gone back home, weigh the pros and cons of each property that you viewed.

Keep in mind everything that you want out of a property and determine the things you are willing to sacrifice if necessary. It is known that not every property you look at will have everything you want, but you do not want to settle for a one-bedroom home if you are set on having a three-bedroom home.

Make an Offer

Now comes the part that you have all been waiting for—making an offer on the property of your dreams. Once you decide to make an offer, you will tell your agent, and they will draft the paperwork to send to the seller's agent.

After you submit your offer, the waiting game begins. On the offer paperwork, there will be a deadline that the seller has to respond to.

Once the deadline approaches, your agent will either tell you that they have accepted your offer or that they have moved forward with another offer.

Paperwork and the Waiting Game

If your offer is rejected, you can either enter another offer at a higher price or continue your search for homes. But, if your offer is accepted, the real waiting game and paperwork will begin.

You will work with your lender to fill out a series of documents that need to go through to present you with the loan you have qualified for. You will also do things like have a home inspection completed so that you are aware of any things that need to be repaired and much more.

Once all of this is complete, you will be at the finish line of signing the dotted line and getting your keys.

Home Buying: The Comprehensive Adventure Guide

Home buying can be overwhelming and frustrating, especially if you do not know what steps you need to take. Above, we have shared several steps and tips for you, like ensuring that you find the right agent to help you find a home for you and your family.

Another thing you need to do is search the homes that you want to view before sending them to your agent. Speaking of finding homes and looking for an agent, sign up with an experienced agent.

Hommati has easy-to-use resources that will help you find an agent who has your best interests at heart.