5 steps to buying a house

1. Evaluate Your Financial Situation

• Check your credit score: Ideally 620+ for conventional loans; higher scores get better interest rates.

• Determine your budget: Look at your income, savings, debt, and monthly expenses.

• Save for a down payment: Typically 3%–20% of the home price, depending on the loan type.

2. Get Pre-Approved for a Mortgage

• Talk to a lender: A bank or mortgage broker will review your financial info.

• Pre-approval vs. pre-qualification: Pre-approval is stronger and gives you more negotiating power.

• Explore loan options: FHA, VA, conventional loans, and programs for first-time buyers are available.

3. Define What You’re Looking For

• Location: Which neighborhoods in Miami interest you? Think about commute, schools, lifestyle, etc.

• Type of property: Single-family home, condo, townhouse?

• Must-haves: Bedrooms, bathrooms, parking, outdoor space, amenities, security, etc.

4. Work with a Real Estate Agent

• Find a local realtor: Someone experienced in the Miami market can guide you through the process.

• Set up property alerts: Be the first to know when homes matching your criteria hit the market.

• Schedule showings: Visit multiple homes before making a decision.

5. Be Ready to Make an Offer and Close

• Make a competitive offer: Your agent will help you base it on market value and conditions.

• Get inspections and an appraisal: Ensure the home is in good condition and worth the price.

• Close the deal: Sign the paperwork, finalize the loan, and transfer funds. Then—get the keys to your new home!