Steps to Homeownership

So you’re ready to become a homeowner? Buying a new home requires a lot of work, but we’ve got your covered with our short guide to homeownership. Though a long process, once it’s done, you can start your next journey in a brand new home.

The first step toward buying a home is finding out how much you can afford before you begin your search. By getting pre-qualified, you’ll know how much a lender may be willing to give you to purchase a new home. Each separate home community at Emerson Ranch has its own preferred lenders to start the pre-qualification process.

The next step toward homeownership is getting pre-approved for a mortgage. It is important to have your personal finances in order – this step requires an extensive check on your financial background and current credit standing. After this, the lender can then tell you the specific mortgage amount for which you are approved and the interest rate on the loan. Getting pre-approved will allow you to move quickly once you find the perfect house.

Next, you will want to find a real estate agent – someone to help you find a home that meets your needs and guide you through the purchase. These professionals are here to help and make sure that nothing goes wrong during the process.

Now it’s time to look at homes. After finding the house that you want to make your forever home, the next step is to secure your funding from your lender and make an offer. Your real estate agent will help you decide how much money you want to offer for the house along with any conditions you want to ask for.

If you reach an agreement, you’ll make a deposit and the process then transitions into escrow. The house will be off the market with the expectation that you will buy it — provided you don’t find any serious problems after an inspection. It’s always a good idea to have a professional inspect the property for the quality, safety and overall condition of your potential new home.

If the inspection doesn’t reveal any significant problems, you should be ready to close – when you’ll sign all the paperwork to make the sale final. Then, all that’s left to do is wait for the keys to your brand new home!

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