First Time Homebuyer Checklist

🏡 First-Time Homebuyer Checklist

✅ 1. Financial Preparation

• Check and improve your credit score

• Create a homebuying budget

• Save for down payment (typically 3%–20%)

• Estimate closing costs (2%–5% of purchase price)

• Get pre-approved for a mortgage

• Understand your monthly payment (PITI: Principal, Interest, Taxes, Insurance)

✅ 2. Home Search

• List your must-haves vs. nice-to-haves

• Research neighborhoods (commute, schools, crime rates)

• Hire a trusted real estate agent

• Browse listings online and attend open houses

• Stay within your budget

✅ 3. Making an Offer

• Compare recent sales in the area

• Make a competitive but realistic offer

• Include contingencies (inspection, financing, appraisal)

• Submit earnest money (1%–3% of offer)

✅ 4. Under Contract

• Schedule a home inspection

• Review inspection results and negotiate repairs

• Get the home appraised

• Lock in your mortgage rate

• Secure homeowners insurance

• Review all closing disclosures

✅ 5. Closing and Move-In

• Final walkthrough before closing

• Bring ID and certified funds to closing

• Sign closing documents

• Get the keys!

• Change locks and set up utilities

• Start a maintenance savings plan