10 Steps to Buying a Home in San Antonio
Looking to buy a home in the near future? Read below for the 10 Steps to Buying a Home in San Antonio!
For a detailed, 100% FREE, 15 page Home Buyer Guide, with even more specifics click the link below!
1. Find Your Motivation
The answer to this question can make a huge difference for you if and when the home buying process begins to create a bit of stress. When you are clear on your motivation, your mind becomes more focused on the end goal and the process itself becomes just a stepping stone to get to that final destination.
2. Determine Your Budget & How Much You Can Really Afford
Budgeting for a new home is one of the most important steps in the home buying process. Determining your overall household budget allows you to calculate what total payment towards your home you can afford. Once that is established, you will need to determine how much you would qualify for. Your lender will help with this but a rough estimate is to keep your total debt to income ratio below 50% of your total monthly income. Calculate your current monthly debt payments and 50% of your monthly income and subtract the two to get the total monthly payment you would be able to qualify for. It's worth noting that you may not want to spend the maximum that you can qualify for to keep your budget comfortable.
3. What is Your Dream Home?
Everyone has a dream for their life. Most of us have a dream home that's included in that life dream. What is yours? Even if this is your first home, specifically writing out the description of that dream home can help you determine what is really important to you in your next home.
4. The Loan Process, Credit, Getting Pre-Approved
Meet with a lender. Before ever looking at homes, you will want to know the detailed specifics of what you will qualify for, how much of a down payment you need (if any), and what your closing costs will be. The good thing is that you can apply with multiple lenders to determine which one will provide you with the best loan and terms without affecting your credit more than applying with one. If you do not have a preferred lender, reach out to me directly and I will give you several options for my most reliable lenders.
Don't Forget Your FREE Home Buyer Guide!
15 Page Guide on the Process of Buying Your Own Home!
5. The Home Search Process
Once you have met with your lender and determined the specifics of what home price range you will be looking at and also determined your closing costs, it's time to start looking at homes! Before we set foot in a home, I will always meet with you and discuss the details of the entire process so you will feel comfortable every step of the way.
6. Making an Offer: The Contract
The answer to this question can make a huge difference for you if and when the home buying process begins to create a bit of stress. When you are clear on your motivation, your mind becomes more focused on the end goal and the process itself becomes just a stepping stone to get to that final destination.
7. From Contract to Close
Each party involved in a real estate transaction does a lot more than the general public tend to see. The Home Buyer Guide shows the exacts of what every party does through the closing process. Your responsibilities once we are under contract are simply to select your home owners insurance and work with myself and your lender to make sure we have everything we need. REMEMBER: I am your guide and resource throughout this process!
8. Home Inspections
The first period of the contract will be the option period. This is typically the first 7-10 days after the executed contract that allows you as the buyer to perform your due diligence. If necessary, you can back out of the contract at anytime during the option period. As your Realtor, I will always recommend you get a home inspection during this period!
9. Preparing for the Big Move
Moving can be one of the most stressful few days of the home buying process. To help with this, the Home Buyer Guide has a detailed checklist to take some of the thinking out of this process. The checklist will guide you through everything you need to think about when moving.
10. Closed and Funded!
Once your loan has been officially approved, all repairs have been completed by the sellers, and we have reviewed and approved the final closing documents, we are ready for closing! You will receive a Closing Disclosure before the day of closing that will tell you the amount you will need to bring to closing for down payment and closing costs. At closing, you will go through the documents with the Title Officer, sign where needed, and walk out of the door an owner of your new home!
