First-Time Home Buyer Roadmap: 10 Steps From Savings to Keys

Buying your first home is a big step, but it’s a series of smaller steps you can handle one at a time. Here’s the roadmap I share with first-time buyers.

1. Set your budget. Look at the full monthly payment, not just the price.
2. Check your credit. See 6 steps to build your credit.
3. Save for cash to close. Include the down payment, closing costs and a cushion.
4. Explore assistance. Virginia Housing and local programs may help.
5. Get preapproved. Compare at least two lenders.
6. Choose your agent. Look for local knowledge and clear communication.
7. Tour homes and neighborhoods. Visit at different times of day.
8. Make an offer. Your agent will help with price and terms.
9. Inspect and appraise. Use your contingency periods well.
10. Close. Review your Closing Disclosure, do a final walk-through and get your keys.

A typical timeline

Stage	Typical time
Preparing credit and savings	A few months, sometimes longer
Preapproval	A few days
House hunting	A few weeks to a few months
Contract to closing	About 30 to 45 days

Frequently asked questions

How much do I need to save?

Less than you might think. Read 5 Down Payment Myths.

Do I need an agent as a first-time buyer?

A good agent helps you avoid costly mistakes and negotiate well. See What a Great REALTOR® Looks Like.