Ep. 164 – The Basics: 10 Steps to Buying Your First Home 

 March 6, 2023

Ep. 164 - The Basics: 10 Steps to Buying Your First Home

Buying a home for the first time can be overwhelming, but having a step-by-step process to follow can make everything clearer, right? WRONG.
David Sidoni gets thousands of questions from first-time home buyers asking for a step-by-step list they can follow to buy a home. Unfortunately, everyone is a special snowflake with different starting points and circumstances, so having a one-size-fits-all rulebook isn’t really in the cards. But, since so many folks have asked, David did his best to give you the Chutes and Ladders version of his step-by-step plan.

Here are some topics from today’s discussion:

  • Why every plan is individual
  • Deciding to buy a home is the vital first step
  • Why getting pre-approved is NOT the first step
  • How you can get started on your plan today

Episode Highlights:

[01:51] We All Start From a Different Square

Rolling with the board game analogy, it’s important to know that everyone’s 10 steps start from a different place on the board. You could be in a completely separate spot in life from someone else, which heavily influences your home-buying process. Knowing where you are on the board is the key to using it properly.

[7:11] The First Two Steps to Success

In the 10 steps to buying a home for the first time, there are two steps that are not on the list that might shock you. The first one is getting pre-approved for a loan. The second is finding a realtor. Why?! Because finding a guide in your home-buying process is so so so important for this very reason – it covers both of these steps. DO NOT shop around for pre-approvals and rates first. Look for a realtor first who can talk you through the process. Instead, your first two steps should be:

  • DECIDE to buy a home. Yes, you need to be committed to the idea first.
  • Find a GUIDE. You also need to find someone who cares about you and knows the process to help you navigate these real estate waters. It doesn’t necessarily have to be a realtor, but needs to be someone who knows what’s up.

Market update

[27:24] Sound Byte

[12:08]- [12:32]
I say again, home ownership is the best hedge against inflation. When things get rough, rents don’t go away. And, in fact, they don’t go down. They go up. So a nice fixed monthly payment, along with equity and just the stability of knowing that nothing’s going to change maybe when your job is… boy, that feels good.

You Might Also Be Interested In:

Ep. 234 – Interview With Yadi and Victor – Dreamed Of Homeownership And Found A Way
Ep. 230 – NAR Lawsuit – The New Rules For Real Estate And How To Buy A Home – PART 1
Ep 229 – What Is A Unicorn Real Estate Team?
Ep 228 – Interview With Andrew And Melissa Who Did NOT Need 20% Down To Buy And Bought Their First Home In A Matter Of Weeks!