What is the first step in buying a home?
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Conquering Your First Home: Budget, Pre-Approval, and Saving for a Deposit Buying your first home is an exciting journey, but it requires careful planning. Here's a breakdown of the initial steps to get you started: 1. Budget and Pre-Approval: It is important to get pre-approved before starting your search for a home, as it can help you avoid disappointment and ensure that the owner of the property sees you as a serious buyer.... You already have one foot in the door if you are preapproved... Know Your Numbers: Begin by creating a budget that outlines your income, expenses, and any existing debts. Get Pre-Approved: With a clear understanding of your financial picture, reach out to a bank or mortgage lender for pre-approval. This will give you a realistic idea of how much you can borrow and keep your home search focused on affordable options. I can assist you with this process if needed! Budgeting tip: A general guideline is to aim to have 8% of the property value available as...