10 Simple Steps to Purchasing a Home in 2021

Despite the current economic glitches, the real estate market is doing relatively well. According to the US Census Bureau, over 600,000 new homes were sold in 2019 alone. Though these figures are enticing, buying a home is an uphill task on a treacherous road. You need not only a trusted realtor but also a deep understanding of how the housing market works. In essence, any aspiring homeowner needs to follow a specific path/steps before closing in on a house deal. These steps are as follows;


The decision to buy a home should be taken seriously. That is why you need to do a lot of research before making this life-changing move. You can also discuss the whole idea of owning a home with your friends and real estate agents. With this, you will get a deeper understanding of how the world of real estate works.

Check your credit score.

Most mortgage dealers require a minimum of 650 credit scores. However, such scores may not qualify for the best interest rates on home loans. That is why experts advise aspiring homeowners to continually strive to improve their credit scores way beyond 650. Doing so will help them get the best home loan deals.

Create a house budget and save for it

Once you have sorted out everything to do with your credit score, it is now time to create a house budget and save for it.

Of course, saving several thousand dollars to get a decent home is quite challenging for most people.

That is why experts advocate saving a percentage, specifically, at least 20% of your home’s total cost. Saving goes a long way in reducing the number of mortgage loans, thus trimming the payments one makes. 

Shop for a mortgage

Texas has one of the most amazing mortgage rates and deals. Even with that being said, to get an outstanding home loan, Tyler Tx residents still need to look around and shop for nothing but the best offer.

In this digital era, getting in touch with home loan providers has never been easier. Simply search for “Loans near me” or “Loans Tyler Tx” on your Google search tab. In the results section, you will get various websites/institutions offering mortgages. In the event that you see results for the phrase “Mortgage Tyler Tx,” or “Mortgage Tyler,” do not worry; they all refer to the same thing.

Find the right real estate agent.

Though it is possible to work without a realtor, finding one will help a lot moving forward. Real estate agents are conversant with the ins and outs of the housing market. Getting one is important as their knowledge will help you get the best home deal.

Go for house hunting.

Armed with your financial quiver and a trusted agent, going house hunting is the next step you should take. At this stage, consider various factors such as price, location, size, and neighborhood. 

Don’t be ashamed of declining available options if they don’t meet your requirements. After all, your comfort and satisfaction are the key things here!

Make an offer

Legally, an offer to purchase a home is written in a letter including your details and the price you are willing to pay. In the letter, the seller may require you to include an earnest money deposit. Earnest money deposit is less than 1-2% of the purchase price, representing a buyer’s good faith. The money will be deposited to the closing costs if you manage to complete the deal.

Plan for a home inspection

If the seller accepts the offer, get in touch with an inspector to ascertain the home’s condition. The inspector identifies major problems, such as damages that require immediate attention. If there is a need to repair the house, request the seller to get the job done before closing the deal.  If the seller declines or sets new terms which you are not comfortable with, you can withdraw the offer.  

Get a home appraisal.

A home appraisal provides the actual price of the home based on several factors. Some of these factors include; market trends, sales in the area, and public records.

Close the deal

Before closing the deal, revisit all the processes listed above to ensure everything was done correctly and legally. After that, walk through the home with your agent to confirm if everything is in order. Finally, bind the contract and assume ownership of your new home.


Yes, you may have the financial advantage of buying a home within a split of a second but are you prepared? You need to set your objectives on a correct trajectory, check your credit score, and shop for a mortgage loan. Also, don’t forget to get real estate agents to help you through the process.  If all goes well, you will have a new home under your name in a few weeks’ time.


Sudarsan Chakraborty is a professional writer. He contributes to many high-quality blogs. He loves to write on various topics.