How do I buy a house?
A Step-by-Step Guide from a Seattle Broker
Buying a home is one of life’s biggest milestones, and one of the most rewarding when you understand how the process works. As seasoned real estate brokers, we’ve helped hundreds of buyers navigate every stage, from the first financial questions to the moment they receive the keys. Here’s what you should know to get started with confidence.
Step 1: Know What You Can Afford
Before you fall in love with a home, it’s important to determine your price range. A good rule of thumb is that your total monthly housing payment (including taxes and insurance) should stay within 25–30% of your gross income. A lender can pre-qualify you for a loan, but we help you translate that number into a realistic budget that fits your lifestyle and long-term goals. It’s not just about what the bank says you can buy, it’s about what feels comfortable for you.
Step 2: Understand Your Financing
Your credit score, down payment, and debt-to-income ratio all play roles in securing your mortgage.
Most loan programs require a minimum credit score of around 620, though stronger credit opens doors to better rates. Many buyers are surprised to learn they don’t need 20% down. There are conventional and government-backed options that start at 3–10%.
We connect clients with trusted local lenders who can explain which programs fit their situation.
Step 3: Plan Your Timeline
How long does it take to buy a home? The honest answer: it depends.
Once you’re pre-approved, most buyers spend one to two months finding the right property, followed by 30–45 days for financing and closing. A skilled agent helps streamline the process by handling details, anticipating issues, and keeping everyone on schedule.
Step 4: Know the Key Terms
Earnest money is a small deposit (usually 1–3% of the purchase price) that shows sellers you’re serious. It’s held in escrow and applied toward your down payment or closing costs once the sale closes. Your down payment is your initial investment in the home. It can come from savings, equity, or even approved gift funds.
Step 5: Making an Offer
Once you’ve found the right home, your agent will help craft a competitive offer that balances price, timing, and terms. We analyze recent comparable sales, assess the seller’s motivation, and position your offer to stand out. It’s important to understand whether the market is calm or competitive. We build strong relationships with local agents and a deep understanding of negotiation strategies can make the difference between getting the home you want and missing out.
Step 6: Move Forward with Confidence
Buying a home doesn’t have to be overwhelming. With clear guidance, trusted partners, and local expertise, the process becomes not just manageable, but exciting. If you’re thinking about buying a home in the Seattle or Tacoma area, we’d love to walk you through your options, answer your questions, and help you make the smartest move possible.
· 📞 Let’s start a conversation today.
