How To Buy Your First Home: A Step-By-Step Tutorial
  1. Buying A Home: Introduction
  2. Buying A Home: Choosing Your Location
  3. Buying A Home: Determine What Kind Of Home Suits Your Needs
  4. Buying A Home: Calculate How Much Home You Can Afford
  5. Buying A Home: Get Preapproved For A Loan
  6. Buying A Home: Find An Agent
  7. Buying A Home: Find A Home
  8. Buying A Home: Write An Offer
  9. Buying A Home: Go Through The Escrow Process
  10. Buying A Home: Get Properly Insured
  11. Buying A Home: Close And Become A Homeowner
  12. Buying A Home: Conclusion

Buying A Home: Introduction

By Amy Fontinelle | Updated February 18, 2016 — 1:56 PM EST

By Amy Fontinelle

Many people go through life thinking that they could never buy a home. Maybe they think they can't afford it, or they think that their credit isn't good enough. Perhaps the whole process of buying a home is just so daunting and complicated that they wouldn't even think of dreaming of home ownership.

The unknowns of buying a home shouldn't be a deterrent to you getting your dream home. Research and diligence can unlock the mysteries of the process and enable you to buy a home without feeling too lost or overwhelmed. Fortunately, there are plenty of resources to explain the procedure to you. This tutorial will take you through the entire process of buying a home - from the "simple" stuff, like finding a place that you like, and the complicated stuff, like applying for a loan.

With this chronological, step-by-step explanation of the home buying process, you will know everything you should be thinking about and doing at each point of the process. Sure, the process can still be difficult, stressful and draining, but at least you'll know what to expect and understand what's happening at every step along the way. You don't have to rent forever if you don't want to. Reading the detailed explanations, advice and suggestions here will prepare you to tackle buying a home without fear. (For resources on how to decide if you're ready to be a homeowner, see To Rent Or Buy? The Financial Issues and To Rent Or Buy? There's More To It Than Money.)

Buying A Home: Choosing Your Location

  1. Buying A Home: Introduction
  2. Buying A Home: Choosing Your Location
  3. Buying A Home: Determine What Kind Of Home Suits Your Needs
  4. Buying A Home: Calculate How Much Home You Can Afford
  5. Buying A Home: Get Preapproved For A Loan
  6. Buying A Home: Find An Agent
  7. Buying A Home: Find A Home
  8. Buying A Home: Write An Offer
  9. Buying A Home: Go Through The Escrow Process
  10. Buying A Home: Get Properly Insured
  11. Buying A Home: Close And Become A Homeowner
  12. Buying A Home: Conclusion
RELATED TERMS
  1. Acquisition Debt

    A financial obligation incurred through the construction, improvement ...
  2. Home Debtor

    An individual who holds a large mortgage with little or no equity ...
  3. Owners' Equivalent Rent - OER

    The amount of rent that could be paid to substitute a currently ...
  4. Home Equity

    The value of ownership built up in a home or property that represents ...
  5. Rent Control

    A price control that limits the amount a property owner can charge ...
  6. Away From Home

    The IRS criteria used to establish whether or not you are within ...
RELATED FAQS
  1. How do I calculate how much home equity I have?

    Find out how to calculate the home equity in your home, your home equity percentage and the loan-to-value, or LTV, based ... Read Answer >>
  2. What are some examples of a good time to take out a home equity line of credit (HELOC)?

    Determine if a home equity line of credit (HELOC) is right for you by looking into the most common and ideal uses of these ... Read Answer >>
  3. How can I use my Roth IRA savings to buy my first home?

    Use your Roth IRA to help fund the purchase of your first home, and find out about ways to access these funds even if you ... Read Answer >>
  4. Do I have to pay capital gains tax when I sell my home?

    My husband and I were divorced in 2011. We owned our house jointly and he lived there after the divorce until his death in ... Read Answer >>
  5. Why should I invest?

    One of the most compelling reasons for you to invest is the prospect of not having to work your entire life! Bottom line, ... Read Answer >>
  6. What does your net-worth consist of?

    Discover what your specific assets and liabilities are and how to classify the components that go into calculating your net ... Read Answer >>
Trading Center