FAQs

It’s generally advisable to avoid making large financed purchases while house hunting, as it can impact your credit score and debt-to-income ratio, potentially affecting your mortgage approval.

Earnest money is a deposit made by the buyer to demonstrate commitment to the purchase. The amount varies but is typically 1-3% of the home’s purchase price.

Your real estate agent will help you analyze market conditions, comparable sales and property conditions to determine a competitive and reasonable initial offer.

Your real estate agent will present the written offer to the seller’s agent, who will then present it to the seller for consideration and negotiation.

While it’s not required, it’s beneficial to be present during the home inspection to gain insights and ask questions about the property’s condition.

A home inspector assesses the property’s condition and identifies potential issues. The inspection report helps you make informed decisions and negotiate repairs with the seller.

There’s no set number, as it depends on your preferences and market availability. It’s essential to be patient and choose a home that meets your needs.

Pay attention to the home’s layout, condition of major systems (electrical, plumbing, HVAC), potential repairs or renovations and neighborhood amenities.

Lenders consider factors like credit score, income, debts and down payment to determine the maximum loan amount you can afford.

Purchasing a home offers potential equity building and tax benefits while renting provides more flexibility and less responsibility for maintenance.

Evaluate your financial readiness, stability and long-term plans. If you’re financially prepared and plan to stay in the area for a while, homeownership may be a good fit.