Starting your homebuying journey: Tips from a U.S. Bank Goals Coach

June 29, 2022

If buying a home is something you’re planning on in the future, there are things you can do now that will ensure you feel prepared and secure when you’re ready to take that step.

 

U.S. Bank Goals Coach Marta Depczynska shares a few tips on how to feel prepared, confident and empowered when it’s time to make that big step. Goals coaching is a free and personalized service for U.S. Bank customers and beyond. U.S. Bank Goals Coaches can help you discover your goals and assist you along the way of reaching your goals.

 

Discover your “why”

Knowing the “why” behind your goal of buying a home is an important first step in the homebuying process. Do you plan to grow your family or want to live closer to relatives? Are you looking for a shorter commute to work? Do you hope to build equity? Are you just tired of renting? Identifying your “why” is the first step in the goals coaching process.

Knowing your “why” is important for a few reasons:

  • It helps you make the right long-term decisions when buying a home.
  • It can help keep you committed to the goal and more willing to take the necessary steps to accomplish it. For example, if your “why” is that you want to grow your family, keeping this in mind might make you more committed to fixing credit, paying off debt or following up with a mortgage loan officer. Your “why” can keep you motivated to make the best decision at every step of the process. 
     

Marta shares that when she is coaching someone, identifying the “why” is the first step for any goal. She explains, “Meeting with a goals coach and discussing why owning a home is important to you is a great way to keep yourself motivated and on track. A goals coach can help prepare you and connect you with subject matter experts to make sure you feel confident every step of the way.”

 

Research the costs

Consider all the costs of homeownership. These can include up-front costs, such as a down payment and monthly mortgage or utilities payments. However, there are other costs associated with homeownership as well.

When renting, often a landlord will take care of a leaky sink or broken water heater, but new homeowners need to be prepared to cover these costs.

Homeownership likely comes with another new responsibility: yard work. Research the costs associated with this, such as a lawn mower, shovels, rakes, fertilizer and more.

When you get a home, will you want to paint, decorate and make it your own? If so, research those costs and plan your home improvement schedule accordingly. The more you research, the more prepared and confident you will be when you buy a home and take on your first project.

Coach Marta says, “Researching costs, preparing for unexpected expenses and practicing good habits will make you feel financially comfortable when it is time to make your purchase.”

 

Confirm your credit score

Knowing your credit score is an important step when it comes time to buy a home. You can learn more about checking your credit score here.

If you have questions about what your credit score means and how to improve it, a Mortgage Loan Officer or a Client Relationship Consultant could help.

 

Start saving, budgeting and planning

Even if homebuying is a goal far in the future, it’s never too early to start saving, budgeting and planning. Here are a few tips to get you started:

If owning a home is a dream of yours, take these steps to ensure that you’re confident when it comes time to search for your home and make an offer. Marta says, “There is no better feeling than confidence, especially when it comes to such an exciting purchase like a home.”

 

Book a free appointment with a goals coach.

 

 

Goals Coaches do not:

  • Recommend or offer any products or services of U.S. Bank or its affiliates.
  • Conduct financial planning or provide investment advice.
  • Make recommendations or give advice on matters involving health, including physical, mental, emotional or medical.

U.S. Bank assumes no responsibility for and makes no claims concerning the merit or sufficiency of your goals and does not assume any responsibility or liability for any losses or other outcomes resulting from decisions made by you, actions taken or not taken by you, in connection with U.S. Bank and U.S. Bank Goals Coaching services.

Related content

Is it cheaper to build or buy a house

Working with an accountability partner can help you reach your goals

30-day adulting challenge: Financial wellness tasks to complete in a month

First-timer’s guide to savings account alternatives

What are conforming loan limits and why are they increasing

A checklist for starting a mobility program review

The connection between your health and financial well-being

5 financial goals for the new year

Investment strategies by age

Do your investments match your financial goals?

Allowance basics for parents and kids

Friction: How it can help achieve money goals

6 pandemic money habits to keep for the long term

How to talk to your lender about debt

A who’s who at your local bank

How I did it: My house remodel

How do I prequalify for a mortgage?

8 steps to take before you buy a home

Your guide to breaking the rental cycle

4 ways to free up your budget (and your life) with a smaller home

Get more home for your money with these tips

First-time homebuyer’s guide to getting a mortgage

How to build wealth at any age

3 tips for saving money easily

How having savings gives you peace of mind

How to use your unexpected windfall to reach financial goals

Dear Money Mentor: How do I set and track financial goals?

Money management guide to financial independence

5 myths about emergency funds

Home buying myths: Realities of owning a home

How I did it: Turned my side hustle into a full-time job

Certificates of deposit: How they work to grow your money

What military service taught me about money management

Managing the impacts of appraisal gaps in a hot housing market

Year-end financial checklist

What is a home equity line of credit (HELOC) and what can it be used for?

Stay committed to your goals by creating positive habits

Money Moments: How to finance a home addition

Tips for working in the gig economy

How to best handle unexpected expenses

Finding a side gig to fund your goals

Is it time to get a shared bank account with your partner?

Dear Money Mentor: How do I pick a savings or checking account?

Webinar: Smart habits and behaviors to achieve financial wellness

Practical money tips we've learned from our dads

Myths vs. facts about savings account interest rates

Saving vs. investing: What's the difference?

Key components of a financial plan

5 tips for creating (and sticking to) a holiday budget

What I learned from my mom about money

How compound interest works

Your 4-step guide to financial planning

Should rising interest rates change your financial priorities?

6 common money mistakes to avoid

How grandparents can contribute to college funds instead of buying gifts

For today's homebuyers, time and money are everything

Here’s how to create a budget for yourself

How to use debt to build wealth

Achieving their dreams through a pre-apprenticeship construction program

How to prepare for healthcare costs in retirement

Is a Health Savings Account missing from your retirement plan?

Housing market trends and relocation impact

High-cost housing and down payment options in relocation

For today's relocating home buyers, time and money are everything

Crypto + Relo: Mobility industry impacts

How to decide when to shop local and when to shop online

Retirement expectations quiz

Checklist: financial recovery after a natural disaster

What financial advice would you give your younger self?

Credit: Do you understand it?

Personal loans first-timer's guide: 7 questions to ask

Dear Money Mentor: When should I refinance a mortgage?

How I did it: Bought a home without a 20 percent down payment

Starting your homebuying journey: Tips from a U.S. Bank Goals Coach

How to stay positive when searching for a job: advice from a U.S. Bank goals coach

House Hacks: How buying an investment property worked as my first home

The lowdown on 6 myths about buying a home

How to set yourself up for success in your first job

Growing your savings by going on a ‘money hunt’

Travel for less: Smart (not cheap) ways to spend less on your next trip

7 ways for pre-retirees to get ready for retirement

Multiple accounts can make it easier to follow a monthly budget

You can take these 18 budgeting tips straight to the bank

9 simple ways to save

Are savings bonds still a thing?

How I did it: Learned to budget as a single mom

What’s a subordination agreement, and why does it matter?

What is an escrow account? Do I have one?

How to stop living paycheck to paycheck post-pay increase

Understanding the true cost of borrowing: What is amortization, and why does it matter?

Money Moments: Tips for selling your home

Parent checklist: Preparing for college

Which is better: Combining bank accounts before marriage — or after?

Does your savings plan match your lifestyle?

Don’t underestimate the importance of balancing your checking account

Do you and your fiancé have compatible financial goals?

Checking and savings smarts: Make your accounts work harder for you

What types of credit scores qualify for a mortgage?

Should you get a home equity loan or a home equity line of credit?

Quiz: How prepared are you to buy a home?

How to cut mindless spending: real tips from real people

Retirement income planning: 4 steps to take

Using 529 plans for K-12 tuition

How to manage your money: 6 steps to take

How to discuss money with your family

4 tips to help you save for retirement in your 20s

Checklist: 10 questions to ask your home inspector

5 things to avoid that can devalue your home

Webinar: 5 myths about emergency funds

5 things to consider when deciding to take an unplanned trip

5 reasons why couples may have separate bank accounts

7 steps: How couples and single parents can prepare for child care costs

Adulting 101: How to make a budget plan

Helpful tips for safe and smart charitable giving

What you need to know about renting

How and when to ask for a raise

5 tips for parents opening a bank account for kids

How to manage money in the military: A veteran weighs in

How to save for a wedding

How to save money while helping the environment

It's possible: 7 tips for breaking the spending cycle

Personal finance for teens can empower your child

Save time and money with automatic bill pay

Tips to overcome three common savings hurdles

Webinar: Uncover the cost: Wedding

Webinar: Uncover the cost: International trip

Building a financial legacy for your family and community

How to increase your savings

It’s time for a fresh start: A new way of thinking

Money Moments: 8 dos and don’ts for saving money in your 30s

Bank from home with these digital features

What’s in your emergency fund?

Tips to raise financially healthy kids at every age

5 ways to spring clean your finances and save money year-round

How I did it: Bought my dream home using equity

Buying a home Q&A: What made three homeowners fall in love with their new home

How I did it: Built living spaces to support my family

Spring cleaning checklist for your home: 5 budget-boosting tasks

Saving for a down payment: Where should I keep my money?

Checklist: 6 to-dos for after a move

Webinar: Uncover the cost: Building a home

Are professional movers worth the cost?

Building a dream home that fits your life

10 questions to ask when hiring a contractor

How you can take advantage of low mortgage rates

Is it the right time to refinance your mortgage?

4 questions to ask before you buy an investment property

10 ways to increase your home’s curb appeal

Webinar: Uncover the cost: Home renovation

Is a home equity line of credit (HELOC) right for you?

10 uses for a home equity loan

Preparing for homeownership: A guide for LGBTQ+ homebuyers

Beyond the mortgage: Other costs for homeowners

How to use your home equity to finance home improvements

What to know when buying a home with your significant other

Webinar: Mortgage basics: What’s the difference between interest rate and annual percentage rate?

Webinar: Mortgage basics: How much house can you afford?

Webinar: Mortgage basics: Buying or renting – What’s right for you?

Webinar: Mortgage basics: What is refinancing, and is it right for you?

Webinar: Mortgage basics: Prequalification or pre-approval – What do I need?

Webinar: Mortgage basics: How does your credit score impact the homebuying experience?

Webinar: Mortgage basics: Finding the right home loan for you

Webinar: Mortgage basics: 3 Key steps in the homebuying process

These small home improvement projects offer big returns on investment

What is refinancing a mortgage?

6 questions to ask before buying a new home

Home equity: Small ways to improve the value of your home

How to Adult: 5 ways to track your spending

3 steps to prepare for a medical emergency

11 essential things to do before baby comes

Webinar: Uncover the cost: Starting a family

Preparing for adoption and IVF

Closing on a house checklist for buyers

How to prepare for a natural disaster

College budgeting: When to save and splurge

Webinar: Uncover the cost: College diploma

How to save money in college: easy ways to spend less

Checklist: How to gain financial independence from your parents

The A to Z’s of college loan terms

Co-signing 101: Applying for a loan with co-borrower

Practical money skills and financial tips for college students

How to build credit as a student

5 things to know before accepting a first job offer

How I did it: Paid off student loans

Webinar: Bank Notes: College cost comparison

5 tips for seniors to stay a step ahead of schemers

Recognize. React. Report. Caregivers can help protect against financial exploitation

Is online banking safe?

Identity stolen? 5 steps to take immediately

Know your debt-to-income ratio

Your quick guide to loans and obtaining credit

Test your loan savvy

6 essential credit report terms to know

Is a home equity loan for college the right choice for your student

How to apply for federal student aid through the FAFSA

Be careful when taking out student loans

Your financial aid guide: What are your options?

Crypto + Homebuying: Impacts on the real estate market

Webinar: Mindset Matters: How to practice mindful spending

Can you take advantage of the dead equity in your home?

How to get started creating your business plan

Talent acquisition 101: Building a small business dream team

Make your business legit

7 tips to help grow your business after launch

How to test new business ideas

How to choose the right business savings account

Does your side business need a separate bank account?

Avoiding the pitfalls of warehouse lending

Should you buy a house that’s still under construction?

Start of disclosure content

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, home equity and credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.