🏡 How to Buy a House: A Step-by-Step Guide

by Lisa Bruno-Magnotta

Buying a home is a major milestone. Whether you’re a first-time buyer or upgrading, this guide walks you through the entire process—from financial prep to closing day.

1. Define Your Purpose
Are you buying a primary residence, vacation home, or investment property?

2. Assess Your Financial Readiness

3. Get Pre-Approved for a Mortgage
This shows sellers you’re financially ready.

4. Hire a Local Real Estate Agent
They’ll help you find homes, run comps, and negotiate.

5. Start House Hunting
Consider schools, commute, amenities, and resale value.

6. Review Comparable Sales (Comps)
Your agent will analyze recent sales to help you make a fair offer.

7. Make an Offer & Negotiate
Be ready to negotiate on price, closing costs, and contingencies.

8. Schedule a Home Inspection
Uncover hidden issues and renegotiate if needed.

9. Secure Financing
Finalize your mortgage and lock in your rate.

10. Close the Deal
Sign paperwork, pay closing costs, and get your keys!

1. Home Inspection Contingency
Protects you from buying a home with major issues.

2. Mortgage Contingency
Lets you cancel if your financing falls through.

3. Appraisal Contingency
Ensures the home is worth what you’re paying.

4. Title Contingency
Confirms the seller has clear ownership.

5. Home Sale Contingency
Gives you time to sell your current home.

6. Attorney Review Contingency (NJ-specific)
You have 3 business days to review the contract with an attorney.