​The process usually begins with evaluating your finances and getting pre-approved for a mortgage. Next comes searching for a property, making an offer, and entering into a contract. This is followed by inspections, securing financing, and then moving on to closing, where all legal and financial documents are signed before you take possession.

​Pre-approval involves contacting a lender who will review your credit, income, and debt-to-income ratio to determine how much you can borrow. This step not only gives you a clear budget but also strengthens your position when making an offer.

​Escrow is a neutral account managed by a third party where funds and documents are held until all conditions of the sale are met. This process protects both the buyer and seller by ensuring that all agreed-upon terms are fulfilled before the final transfer of ownership.

​A professional home inspector will assess the property’s major systems (like plumbing, electrical, and HVAC), structural components, and overall condition. The resulting report helps you understand any potential issues and can serve as a negotiation tool if repairs are needed.

​Down payment requirements vary by loan type and lender, typically ranging from as little as 3% with certain government-backed loans to around 20% for conventional mortgages. A higher down payment can sometimes secure better loan terms.

​Closing costs include fees such as appraisal fees, title insurance, attorney fees, and other administrative expenses. They generally amount to 2–5% of the home’s purchase price, so it’s wise to set aside this additional budget beyond your down payment.

​Once an offer is accepted, the process—from securing financing to closing—typically takes between 30 to 60 days. However, timelines can vary depending on the specifics of your deal, local market conditions, and the efficiency of all parties involved.

While not legally required, having a real estate agent can be extremely helpful. They guide you through each step, assist with negotiations, provide access to listings, and help manage paperwork, ensuring a smoother process from start to finish.

Contingencies are conditions included in your contract that must be met for the sale to proceed. Common contingencies include financing approval, a satisfactory home inspection, and an appraisal meeting or exceeding the offer price. They protect your interests by allowing you to back out if critical conditions aren’t met.

​Assess your financial situation—including your credit score, savings, and debt load—and determine whether you can comfortably afford the ongoing costs of homeownership. Consulting with a financial advisor or lender can also help you decide if you’re ready for this significant commitment.