Budgeting
Consider your income, savings, and credit score to determine how much you can afford. A good rule of thumb is to spend no more than 25% of your take-home pay on monthly mortgage payments.
Getting pre-approved
Get pre-approved for a mortgage from a lender who can help you understand your options and costs.
Finding a real estate agent
Work with a local real estate agent who you trust.
Considering programs and incentives
First-time buyers and those with lower incomes may be eligible for programs and incentives.
Looking for assistance
- Check with state housing finance agencies, local governments, nonprofits, and mortgage lenders for down payment and closing cost assistance.
- Scheduling inspections
- Schedule a home inspection to identify any issues and ensure the property’s value matches the agreed-upon price.
- Touring potential homes
- When touring potential homes, look for signs of structural integrity, roof condition, and proper functioning of plumbing and electrical systems.
- Considering the neighborhood
- Spend time in the area during different times of the day to ensure it feels right.
Considering the layout
Assess if the layout fits your lifestyle and how you’ll use each space daily.
Ultimately, whether to buy a home in 2025 is a personal decision that depends on your financial situation and the market conditions at the time