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Complete Home Buyer's Guide

Your roadmap to a successful home purchase in the Greater Seattle area

1

Assess Your Financial Readiness

Before you start house hunting, understand your financial position and establish a realistic budget.

  • Check your credit score (aim for 620+, ideally 740+)
  • Calculate how much you can afford (28% of gross income for housing)
  • Save for down payment (3.5%-20% depending on loan type)
  • Budget for closing costs (2-5% of purchase price)
  • Build emergency fund (3-6 months of expenses)
2

Get Pre-Approved for a Mortgage

A pre-approval letter shows sellers you're a serious, qualified buyer—essential in competitive markets.

  • Gather financial documents (W-2s, pay stubs, bank statements, tax returns)
  • Shop multiple lenders for best rates and terms
  • Compare conventional, FHA, VA, and jumbo loan options
  • Get pre-approval letter (not just pre-qualification)
  • Understand your monthly payment including taxes and insurance
3

Partner with a Buyer's Agent

An experienced agent provides market expertise, negotiation skills, and access to properties—at no cost to you.

  • Interview 2-3 agents to find the right fit
  • Choose an agent with local market expertise
  • Sign buyer's agency agreement
  • Discuss your must-haves vs. nice-to-haves
  • Establish search criteria and timeline
4

Search for Your Home

With your criteria defined and financing secured, begin touring properties strategically.

  • Research neighborhoods (schools, commute, amenities)
  • Attend open houses and schedule private showings
  • Take notes and photos at each property
  • Consider future resale value, not just current needs
  • Be patient—the right home will come
5

Make a Competitive Offer

When you find "the one," act quickly with a strong, well-structured offer.

  • Review comparable sales (comps) with your agent
  • Determine offer price and strategy
  • Include appropriate contingencies (inspection, financing, appraisal)
  • Consider escalation clauses in multiple-offer situations
  • Write a personal letter to sellers (if appropriate)
6

Conduct Due Diligence

Once your offer is accepted, verify the property's condition and value before committing.

  • Schedule professional home inspection ($400-$600)
  • Review inspection report thoroughly with agent
  • Request repairs or credits for significant issues
  • Order appraisal through your lender
  • Review title report and HOA documents (if applicable)
7

Finalize Your Financing

Work closely with your lender to complete the mortgage approval process on time.

  • Submit final documentation to lender
  • Lock in your interest rate (timing matters)
  • Avoid major purchases or credit changes
  • Review Closing Disclosure 3 days before closing
  • Arrange homeowners insurance
8

Close on Your New Home

The final step—sign the paperwork and receive the keys to your new home!

  • Do final walk-through 24 hours before closing
  • Wire closing funds (never bring cash or personal checks)
  • Bring government-issued ID to closing
  • Sign all closing documents
  • Receive keys and celebrate! 🎉

Pro Tips for First-Time Buyers

Think Long-Term

Plan to stay at least 5-7 years to offset buying/selling costs and build equity. Consider future family plans and career stability.

Don't Max Out Your Budget

Just because you're approved for $500K doesn't mean you should spend it all. Leave room for furniture, repairs, and life's surprises.

Research the Neighborhood

Visit at different times of day and week. Talk to neighbors. Check crime stats, school ratings, and future development plans.

Understand Total Cost

Your monthly payment includes principal, interest, property taxes, insurance, HOA fees, and maintenance. Budget for all of it.

Be Decisive But Patient

In hot markets, you need to act fast on good properties. But don't let FOMO push you into a home that doesn't meet your needs.

Hire a Good Inspector

A thorough inspection ($400-$600) can save you thousands by revealing issues before you buy. Never skip this step.

Common First-Time Buyer Mistakes

Shopping Before Pre-Approval

You'll waste time viewing homes you can't afford and miss opportunities when you finally get serious. Get pre-approved first.

Ignoring Additional Costs

Property taxes, HOA fees, maintenance, and repairs add up. Budget at least 1-2% of home value annually for upkeep.

Waiving Inspections

Even in competitive markets, never buy a home sight-unseen or without inspection. The risks far outweigh any advantage.

Making Emotional Decisions

Falling in love with a property can cloud judgment. Stay objective and evaluate based on your needs and budget.

Forgetting About Resale

That quirky floor plan might work for you, but could it hurt resale value? Think about future buyers when choosing a home.

Changing Jobs or Credit

Don't change jobs, open new credit accounts, or make major purchases between pre-approval and closing. It can kill your loan.

Ready to Start Your Home Buying Journey?

Let VDI Realty guide you through every step with expert advice and personalized service

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