The Step-by-Step Guide to Buying a Home: What to Expect From Start to Finish

Buying a home is exciting, there is nothing quite like imagining yourself in a new space, but it can also feel overwhelming if you are not sure what to expect. Whether you’re a first-time buyer or just need a refresher, understanding each stage of the home-buying process makes the journey smoother, less stressful, and a lot more enjoyable.

Here is a simple, step-by-step guide to help you feel confident from the moment you start searching to the moment you get the keys.

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1. Check in on Your Finances

Before you fall in love with a house online, take a quick look at your financial picture.
This includes:

• Your credit score
• Savings for a down payment
• What you can comfortably afford month to month

This gives you a realistic price range before you dive into listings.

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2. Get Pre-Approved for a Mortgage (If Needed)

If you plan to finance your home purchase, a pre-approval letter shows how much a lender is willing to loan you and signals to sellers that you are a serious buyer. Expect to share documents like pay stubs, tax returns, bank statements, and employment history.

Even if you are paying cash, it is still important to know your budget before making an offer.

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3. Choose a Real Estate Agent You Trust

Your agent is your guide through the entire process, from showings to writing offers, negotiations, and closing. Look for an agent who communicates well, knows the local market, and understands your goals.

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4. Start Shopping for Homes

Now for the fun part!
Before jumping in, make a quick list of:

• Must-haves
• Nice-to-haves
• Deal-breakers

Then explore neighborhoods, tour homes, and attend open houses. Be patient, finding the right place can take time and that is okay.

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5. Make an Offer

Once you have found "the one," your agent will help you craft a strong, competitive offer. An offer may include:

• Your proposed purchase price
• Contingencies, such as financing, inspection, or appraisal, if applicable
• Your ideal closing timeline

Your agent will negotiate on your behalf until you and the seller reach an agreement.

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6. Schedule a Home Inspection (If Included in the Offer)

If your offer includes a home inspection, this step helps uncover any issues, big or small. Depending on the results, you may:

• Ask for repairs
• Request a credit
• Renegotiate the price

This step protects buyers and ensures there are no surprises later.

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7. Get the Home Appraised (If Financing Requires It)

If your purchase is financed, your lender may require an appraisal to confirm the home’s value matches the amount being borrowed. If it comes in lower than expected, you may need to renegotiate or explore other financing options.

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8. Finalize Your Mortgage (If Financing)

If you are using a mortgage, this is where you lock in your interest rate, submit any final documents, and complete the underwriting process. Once everything is cleared, you will receive a Closing Disclosure outlining all loan details and closing costs.

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9. Have a Final Walk-Through

Usually done 24 to 48 hours before closing, a final walk-through ensures the home is in the agreed-upon condition and any negotiated repairs, if applicable, have been completed.

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10. Close on Your New Home

This is the best part. You will sign the final paperwork, pay any closing costs if applicable, and officially become the new owner. Then it is time to grab those keys and celebrate.

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Buying a home is a big step, but breaking it into simple stages turns it into a manageable and even enjoyable experience.

At Living in Madison Real Estate Group, we guide buyers through every part of the journey, from the first conversation to the moment you unlock the door to your new home. Ready to get started?  Email us at mari@livinginmadison.com or call us at 608-218-4676 - we’re here to help every step of the way.

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