Key Home Buying Steps

How to Buy a Home From Start to Finish

Published Aug 05

Okay, so you’re ready to move. Now what? Finding a new home can be an overwhelming and stressful process, but it doesn’t necessarily have to be. Follow these steps to minimize home-buying mistakes and make room for pure excitement!

  1. First, decide what your long-term goals are and why you’re ready to buy a house. If you’re transitioning from renting to buying, why is that? Are you craving more independence or are you looking for an investment? If you have bought a home before, what are you hoping to get out of this new home? How would you like it to be similar and different from your current living situation? Do you want a move-in ready home or are you looking to custom build your dream house? At Greens Prairie Reserve, we offer both. It helps to make a wishlist before you look at any houses. You can use our free house hunting checklist by clicking here:
    House Hunting Checklist
  2. Now that you have a better idea of what you want, it’s time to dive into the financials. What is your current income status? Are you just starting a new job or planning to retire soon? Have your current house evaluated to see how much it is worth. This will impact what you can spend on your new house. You can also calculate your debt-to-income ratio (DTI) by looking at your current debts and income. Use this ratio to consider how much money you can reasonably afford to spend each month paying off your new house. Make sure to start saving for your down payment and closing costs (usually 3-6% of the home value) early. You won’t have to worry about budgeting for repairs or renovations since all of our homes are brand new! If you like to do customizations to every house, you can look into our custom home options.
  3. Next, before you start looking for houses, you should get preapproved for a mortgage. Knowing what size loan you are approved for will help you with your budget. A few locals I'd recommend to discuss mortgages with are Jonathan Pawlak at Prosperity Bank, David Stennis and Melanie Motley at First Financial Bank, Trent Pride at Team 12 Mortgage, or Tony Varisco at BCS Homes Loans. When you find your dream house, you may beat out any other interested homebuyers by being preapproved! There are many different types of loans to consider for homebuying, so make sure to do your research first. There are conventional loans, but there are also FHA loans, VA loans for veterans, and other loans that have varying risks for you. It just depends on your personal situation.
  4. Next, it’s time to connect with an expert, like a member of our sales team. They know everything there is to know about Greens Prairie Reserve and will help with deciding what kind of home is right for you. This is the step where you present your budget and wish list in depth. Here are a few things you may want to consider as you’re house hunting: price, square footage, location, number of bedrooms/bathrooms, backyard, local school district ranking, and property value trends. If you’re not sure about some of the items, such as square footage, talk to a team member and they'll be able to help you decide what answer would fit you and your family’s lifestyle.
  5. Finally, it’s time to start househunting! Or, if you’re looking at some of our homes that are currently under construction, it’s time to look at builder profiles and lot types to see which matches your style best. We also have lots available to build custom homes. If this is something you’re interested in, our sales team can help you connect with builders and designers so you can build your perfect home.
  6. After you find what may be your dream home, make sure to sit with your decision long enough to know it’s the right one. But, don’t sit for too long. Our homes and lots can go quickly! Talk with everyone in your family and make sure this home would be the best fit for everyone’s lifestyle.
  7. Once you’re sure of your decision, it’s time to close on your new home. You’ll sign lots of paperwork and pay your down payment and closing costs. You’ll also sign your mortgage note, which states that your promise to repay the loan.

And that's it! Buying a home is complicated, but following these steps and planning ahead should help. If you have any questions, feel free to send us an email, give us a call, or stop by our Welcome Center any time.

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