How to Buy a House: A Step-by-Step Guide

How do I buy a house?

Buying a house can be overwhelming: That’s why you should trust in the guidance of a local expert like Sam St. Clair.

Buying a house can be an exciting but overwhelming process, especially if you're a first-time homebuyer. To help make the process smoother, we've put together a step-by-step guide to buying a house.

Step 1: Determine Your Budget

Before you start looking at houses, you need to determine how much you can afford to spend. Consider your income, expenses, and any other financial obligations you have. A good rule of thumb is to aim for a monthly mortgage payment that's no more than 28% of your gross monthly income, although you can often get approved at up to 41%.

Step 2: Get Pre-Approved for a Mortgage

Once you know how much you can afford to spend, you should get pre-approved for a mortgage. This involves submitting an application to a lender, who will review your financial information and credit history to determine how much they're willing to lend you. The lender can also be a tremendous asset when it comes to determining your budget, and can help you do things like repair credit and set forth a financial game plan to achieve your goals.

Step 3: Find a Real Estate Agent

A real estate agent can help you find properties that meet your needs and negotiate the terms of the sale. Look for an agent who has experience in the area you're interested in and who you feel comfortable working with. If you’re in the Phoenix metro area, especially in Maricopa, Sam St. Clair should be your first call.

Step 4: Start House Hunting

With your budget and pre-approval in hand, it's time to start looking at houses. Your real estate agent can help you narrow down your search based on your criteria, such as location, size, and amenities. Sam’s website is more up-to-date than the big-name sites, lets you set extremely specific search parameters, will notify you of new listings, and will communicate the results of your searches directly to the best realtor in the game!

Step 5: Make an Offer

Once you've found a house you like, it's time to make an offer. Your real estate agent can help you craft a competitive offer that takes into account the seller's asking price, market conditions, and any contingencies. It’s important that your agent understands the best strategies for successful offers in your specific market. That’s why an agent like Sam, who receives regular coaching and training from Phoenix’s top real estate coaches, is an incredibly valuable asset to have on your side.

Step 6: Get a Home Inspection

If your offer is accepted, you should hire a home inspector to evaluate the condition of the property. The inspector will look for any defects or issues that could affect the value of the property or your safety. Be warned: Not all home inspectors are created equally. It’s critical that you ask your realtor for local recommendations, as they work with inspectors on a regular basis and know who to call in their respective markets.

Step 7: Close the Deal

If the home inspection goes well and all parties agree on appropriate remedies for any issues, it’s time to close the deal. Your real estate agent, lender, and title company will guide you through this process. Once again, it’s imperative that you utilize local experts to handle your title and escrow.

Step 8: Move In

Congratulations! You've bought a house. Now it's time to move in and make it your own.

Final Thoughts

Buying a house can be a complex process, but with the right guidance and preparation, it can also be a rewarding one. By following these steps and trusting in a local expert like Sam, you'll be well on your way to finding and buying your dream home.