The Ultimate Guide to Buying a Home: What I Want Every Buyer to Know

Buying a home is exciting—but let's be honest, it can also feel like a LOT.

How much should you spend? When should you talk to a lender? Do you need 20% down? What happens after your offer is accepted? What if the inspection finds something? And how do you know if you're actually getting a good deal?

After helping buyers navigate this process over the years, I've learned that one of the biggest things that takes the stress out of buying a home is simply knowing what to expect.

So instead of giving you a bunch of real estate jargon, I wanted to put together the guide I wish every buyer could read before they start looking at homes.

Let's start at the beginning.

Step 1: Talk to a REALTOR® Before You Start House Hunting

Yes, I'm a REALTOR®, so you probably expected me to say this—but there's a reason I put it first.

A good agent should do much more than open doors.

Before we ever start touring homes, I want to understand what you're trying to accomplish. Where do you want to live? What's important to you? How long do you plan to stay? What does your monthly budget look like? Are schools, commute, acreage, amenities, or future resale important?

And sometimes the most important question is simply:

Does buying a home make sense for you right now?

I don't believe everyone needs to buy a house just because they can. The goal is to make a smart decision for your life, not just complete a transaction.

Step 2: Get Pre-Approved

Unless you're paying cash, one of our first stops is going to be a lender.

And I recommend doing this before falling in love with a house.

A lender can help you understand how much you qualify for, what different loan programs may be available, how much you'll need for your down payment and closing costs, and—most importantly—what your estimated monthly payment could look like.

And no, you don't necessarily need 20% down.

There are conventional, FHA, VA and other financing options, and some buyers may qualify for down-payment assistance or other programs.

This is why having a knowledgeable lender on your team matters.

Step 3: Decide What You REALLY Want

Now we get to the fun part.

But before we start opening doors, I like to separate your list into two categories:

Must-haves and nice-to-haves.

Your must-haves might be things like location, number of bedrooms, a home office, a certain school district, or staying under a specific monthly payment.

Your nice-to-haves might be the giant kitchen island, three-car garage, pool, or perfect backyard.

Here's what I've learned: the “perfect” house usually doesn't exist.

The goal is finding the home that checks the boxes that matter most without stretching your budget for things that really don't.

Step 4: Start Shopping—But Look Beyond the Pretty Stuff

This is where most buyers think the process begins.

We tour houses!

And yes, it's fun. But when I'm walking through a property with a buyer, I'm looking at much more than countertops and paint colors.

How old is the roof? What does the HVAC look like? Are there signs of foundation movement or water intrusion? How does this home's price compare to recent sales? How long has it been on the market? Is there something about the location that could affect resale later?

Cosmetic things can usually be changed.

Location, lot, floor plan, and major property issues aren't always so easy.

My job isn't to convince you to love a house. It's to help you look at it from angles you may not have considered.

Step 5: Don't Forget About New Construction

This is a BIG one, especially in the Austin-area market.

When we're looking at your options, I don't want to automatically limit the search to resale homes.

Builders may offer incentives such as interest-rate buydowns, closing-cost contributions, upgrades, or other promotions that can change the numbers significantly.

But here's something I always want buyers to understand:

The salesperson in the model home works for the builder.

They're there to sell the builder's homes—and that's completely fine. But I believe you should have someone representing you, too.

If you're considering new construction, talk to your REALTOR® before visiting builders so you understand how representation works and don't accidentally give up the opportunity to have your own agent involved.

Step 6: It's Time to Make an Offer

You found THE ONE.

Now what?

This is where strategy matters.

Before recommending an offer price, I want to look at the comparable sales, current competition, how long the property has been listed, its condition, seller circumstances when known, and what's happening in that particular neighborhood.

And price isn't the only thing we negotiate.

Closing date, option period, seller contributions, repairs, personal property and other contract terms can all matter.

The “best” offer isn't always simply the highest number.

Step 7: Your Offer Was Accepted—Now the Clock Starts

Congratulations!

And also…things are about to get busy.

Once you're under contract, there are several important deadlines. Depending on your contract and situation, this can include earnest money, option money, inspections, financing requirements, appraisal and other contractual deadlines.

This is one of the biggest reasons I believe your REALTOR® should be communicating with you throughout the transaction.

You shouldn't be sitting at home wondering, “What am I supposed to be doing right now?”

We'll walk through it together.

Step 8: Get the Inspection

Even if a house looks beautiful, I strongly recommend having it professionally inspected.

An inspector is going to look at the home much differently than you or I will.

They're evaluating major systems and components of the property and identifying items that may need further attention.

And here's something important:

An inspection report is not a list of things the seller is automatically required to fix.

We'll review the findings together, determine what's important, and decide whether there are repairs or other items that make sense to address within the terms of your contract.

Don't let a 40-page inspection report automatically scare you. Even good homes can produce long reports.

Our job is to separate the little stuff from the things that actually matter.

Step 9: The Appraisal & Financing

If you're financing the purchase, your lender will typically order an appraisal.

The appraisal helps determine the property's value for lending purposes.

At the same time, your loan is continuing through underwriting. Your lender may ask for updated bank statements, employment information, documentation, or explanations along the way.

One piece of advice?

Don't make big financial changes while you're buying a house without talking to your lender first.

That means think twice before financing a new car, opening a new credit card, moving large amounts of money around, or making a major purchase.

Wait until after closing for that new furniture!

Step 10: Don't Forget About Insurance, Taxes & the REAL Monthly Payment

I don't want buyers focused only on the sales price.

What matters is what owning the home is actually going to cost you.

Your monthly payment may include principal, interest, property taxes, homeowners insurance, mortgage insurance and possibly HOA fees.

Property taxes can also vary significantly from one area to another.

This is especially important when comparing new construction communities, different cities, MUDs, PIDs and other taxing jurisdictions around Central Texas.

Two similarly priced homes can have surprisingly different monthly payments.

Step 11: Final Walkthrough

We're almost there!

Shortly before closing, we'll do a final walkthrough of the property.

This isn't another inspection. It's our opportunity to make sure the home is in the expected condition, agreed-upon repairs have been addressed when applicable, and nothing significant has changed since you last saw it.

And yes, we'll make sure the house is still standing.

(I've never lost one yet. 😂)

Step 12: Closing Day!

You made it!

You'll sign your closing documents, your lender will finalize funding if you're financing, and once everything is funded and the transaction is officially closed…

You get the keys. 🔑

It's one of my favorite parts of this job.

Because behind every closing is a story.

Maybe it's someone's first home. Maybe they're finally getting more space for their family. Maybe they're moving closer to their kids. Maybe they're buying an investment property. Or maybe they're starting over somewhere completely new.

Whatever the reason, it's a pretty big deal.

My Biggest Advice to Home Buyers

If I could leave you with just a few things, they would be these:

Don't start with Zillow. Start with a plan.

Know your numbers before you fall in love with a house.

Don't let cosmetic things distract you from the things that actually matter.

Don't assume new construction is automatically more expensive—or automatically a better deal.

Ask questions. Lots of them.

And surround yourself with people who will tell you what you need to hear, not just what it takes to get you to closing.

Buying a home is a big financial decision, but it doesn't have to be an overwhelming one.

With the right plan and the right people in your corner, it can actually be a lot of fun.

And if you're thinking about buying a home in Austin, Georgetown, Round Rock, Pflugerville, Leander, Liberty Hill or the surrounding Central Texas area, I'd love to help you figure out what your next step should be—even if you're not ready to buy just yet.

Sherri Monroe
Texas Oak Realty Group

Helping you make a smart move—not just a move.