Tips on starting your home-buying journey

June 29, 2023

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.


For most people buying a home is the single biggest purchase you’ll make. It can feel scary. But with a few tips you can feel prepared, confident and empowered when it’s time to take that big step.


Discover your “why”

Knowing the “why” behind your goal of buying a home is an important first step in the home-buying 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? 

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. 


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.

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. 


Ready to start your homebuying journey? Connect with a mortgage loan officer to help you get started on your way.  

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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 rates 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.