So you’re thinking of buying a house, but you don’t know where to start? The good news is, all you need is a little patience and a team of dedicated, communicative professionals to guide you through the process.

1. Get a Handle on Your Debt

You can use a free visual spending tracking service such as Mint.com and a free credit report service to see how much debt you have (e.g., car, school, personal loans, credit card balances) as well as learn what accounts you have open. It might be useful to sit down with a financial planner to develop a financial plan if you need help dealing with recurring debt and finding ways to save money.

2. Squirrel Away Emergency Savings

Homeownership comes with many perks, though unforeseen costs creep when you least expect them. Even homeowner’s policies have deductibles that can sock it to you when you’re already reeling from a leaky window! Once you are on your way to becoming debt-free, setting aside money in a separate, sacred savings account can help you down the road in a crisis.

3. Get Referrals for a Trusted Mortgage Broker

Talk to your friends, colleagues, and neighbors to find out who they worked with to secure their home loans. Did they choose big banks? Some people who have existing accounts at larger banks like the ease of applying for a loan with that institution. Upsides? They already have your account information in their system, and the application process can seem less painful. Downside? The process can drag on with slow communication, and closing can take a while.

Maybe they chose a smaller brokerage. Mortgage brokers in smaller firms may have more time to answer a first-time homebuyer’s questions, and they may be more available for the day-to-day communication that comes with the pre-approval process. They may also have access to certain rates and loan programs that the big banks don’t offer. The downside is that sometimes a smaller brokerage can’t compete with some of the low rates that the big banks make available.

3.  Find Out How Much House You Can Afford

Talk to a lender to get Pre-Approved. Pre-Approval is a more thorough process than Pre-Qualification because it requires a lender to review your financial statements and overall financial bill of health to determine how much that lender would be willing to lend you. Pre-Qualification is a less-qualifying step in the process that is based solely on the verbal information about your income and budget that you provide to a lender. As a result, in order to write a competitive offer on a property, a buyer needs to have a letter of Pre-Approval that is based on proof of funds. Sellers look for Pre-Approval in order to feel confident about accepting the financial terms of the buyer’s offer.

Good lenders will have a variety of loan opportunities to discuss with you as well as information on first-time homebuyers and other loan assistance programs that you may qualify for. If you’ve done some research in your locality, share it with your lender! Teamwork always helps! To crunch numbers now, check out this handy Mortgage Calculator. Remember, don’t assume you have to have a 20% down payment! It’s not the only solution out there.

4. Study Up on Closing Costs

Closing costs are a necessary evil in the home buying process, and they should never be a surprise to the buyer. Early in the lending process, make sure you ask for a list of anticipated closing costs, which typically run between 3-4% of the purchase price. Here’s more information on how they work.

5. Find a Realtor® From Your Network of Friends, Colleagues, Family

Talk to your network about Realtors® they have worked with. What made the relationship a good fit, or not? Consider your personality, how you communicate best, and how an agent might work best with you. Ask them what sets them apart from the rest. What value and service can they bring to you? Research their areas of expertise. You don’t have to call a Realtor® with all of the answers in hand. It’s their job to ask you questions to help you consider down the neighborhoods, home features, schools, accessibility to work commutes, and neighborhood features that are important to you.

Good agents are responsive with their listening and their communication, and these days they harness technology to provide you with access to current listings that are relevant to your search.

6. Discover Homes at Your Price Point

Remember that when done right, the pricing of a home is determined by the market, not by the whim of the seller or seller’s agent!

Recently-sold homes in a particular neighborhood, over the last several months known as comparables, or comps should determine the listing price set by the seller. Variables such as lot size, number of beds and baths, and square footage are standouts in determining the market price, but amenities like upgraded fixtures and appliances, high-quality flooring, landscaped yards, molding, upgraded copper plumbing, a pool, or a newer roof just to name a few can greatly add to a home’s value in the market.

Your buyer’s agent will provide listings to you on a regular basis based on the criteria you set with her/him. It is best to shop for houses after you determine the criteria you 1) must have; 2) would like to have; 3) and don’t really care about. That list might change! Don’t be afraid to add or change your lists!

7. Explore a Variety of Neighborhoods

Ask your Realtor® to help you come up with a list of neighborhoods worth searching based on your initial criteria. Consider traffic, noise, airports, school quality and location, grocery shopping, gas stations, parks, and outside space, walkability, crime, and commutes. Don’t hesitate to talk to a few neighbors near home for sale! If you see someone out walking or washing their car, engage them in a short, friendly chat about what they like about living there.

8. Attend Open Houses Strategically

There’s no need to visit an open house completely sight-unseen. Many homes can be viewed online, and an increasing number of listing agents create visual tours so that you may “walk through” them while you sip from your morning mug. If the home meets the criteria you’ve set for yourself, note the address. Pick 4-5 homes to view in one day, and ask your agent to put together a buyer’s tour packet for you. Then you can have photos and details in hand upon which you can jot your own notes as you view the property. Your memory will thank you for it!

Remember to plot out your tour using a map. No sense in running all over town!

9. Don’t Be Afraid to Write an Offer!

Work with your agent to write a competitive offer based on your pre-approval as well as the comparable properties that are active listings, recently sold, or pending, which means that the home is in contract and a sale is imminent.

Some buyers worry about being outbid, and they avoid writing an offer altogether, only to find out that the winning offer is sometimes lower than what they would have offered!

While the real estate purchase process is an in-depth transaction, it is advised not to approach the process as purely transactional. Some sellers appreciate it when potential buyers offer a glimpse of their humanity or emotional investment in the process. Since some sellers have invested a lifetime of family and money and memories into a home, it can be beneficial to appreciate that in your dealings with your real estate agent and in any interaction with the sellers, such as at an open house.

10. Ask Your Real Estate Agent for a Closing Checklist and Calendar

Stay on top of deadlines and to-dos in the closing process. And read everything, even if it seems like ubiquitous fine print. You don’t want to be surprised by anything six months into homeownership. You can avoid this by asking your real estate agent for a calendar and checklist that are tailored to your transaction. Every question is a good question! Sometimes it’s also more useful for you to pick up the phone to call your agent rather than ask questions over email.

To Sum Up

• Make sure you reach out to your personal and professional network for referrals for real estate agents and mortgage brokers/lenders.
• Find out how they work and be upfront about what you need in order for a professional relationship to work.
• Be prepared to ask questions and to answer questions!
• Stay transparent in communicating about your finances.
• Be realistic about what you can afford, and shop accordingly.
• Do your research and ask your Realtor® to do theirs!
• Know what you want and what you don’t want, but stay flexible.

Here’s to Happy Home Buying!