Buying a home in 3 MONTHS? Here’s your gameplan

Introduction

Buying a home can be a daunting process, especially when you're working with a tight timeline. This tutorial outlines a comprehensive 90-day game plan to help you navigate the home-buying process efficiently and confidently. By following these steps, you can increase your chances of securing your dream home without unnecessary stress.

Step 1: Establish Your Budget

• Evaluate your finances: Review your income, savings, and expenses.
• Set a realistic budget: Determine how much you can afford for a down payment and monthly mortgage payments.
• Use budgeting tools: Consider using online calculators to assess your maximum purchase price.

Step 2: Start the Pre-Approval Process

• Contact a lender: Reach out to a mortgage lender for pre-approval.
• Gather necessary documents: Prepare your financial documents such as income statements, tax returns, and credit information.
• Get pre-approved: This will give you a clear understanding of your borrowing capacity and strengthen your position when making offers.

Step 3: Create a Needs vs. Wants List

• Identify essentials: List features that are non-negotiable for your new home (e.g., number of bedrooms, location).
• List preferences: Include nice-to-have features (e.g., a pool, garage) that would enhance your living experience.
• Prioritize your list: Rank items to help you make decisions later on.

Step 4: Exit Your Lease and Plan to Sell

• Review your lease: Check the terms for breaking your lease early or preparing to move.
• Plan your current living situation: Decide whether you will rent, stay with family, or need temporary housing after selling.
• Prepare your house for sale: If applicable, start prepping your home for listing.

Step 5: Find a Real Estate Agent

• Research potential agents: Look for agents with good reviews and experience in your desired area.
• Interview candidates: Ask about their strategies, experience, and how they plan to assist you.
• Select an agent: Choose someone who understands your needs and budget.

Step 6: Get a Home Inspector On-Board

• Research inspectors: Find qualified home inspectors through referrals or online reviews.
• Schedule an inspection: Once you find a potential home, arrange for an inspection to assess its condition.

Step 7: Begin Exploring Homes

• Attend open houses: Visit homes to get a feel for what’s available within your budget.
• Keep your list handy: Refer back to your needs vs. wants list to evaluate each home.
• Stay organized: Keep notes and photos of homes you visit for easy comparison later.

Step 8: Make an Offer

• Discuss with your agent: Work with your agent to formulate a competitive offer based on market conditions.
• Submit your offer: Include any contingencies (e.g., financing, inspections) that protect you during the buying process.

Step 9: Close on Your Home

• Review closing documents: Carefully read all paperwork before signing.
• Complete necessary inspections and appraisals: Ensure all requirements are met for a smooth closing.
• Celebrate your new home: Once everything is finalized, enjoy the excitement of your new purchase!

Conclusion

By following this 90-day game plan, you can streamline the home-buying process and reduce stress. Remember to establish a budget, get pre-approved, identify your needs, and work closely with your real estate agent. Taking these steps will help you secure the home you love in a timely manner. Good luck with your home-buying journey!