10 Steps To Buying A Home In Idaho

Posted by Jeffery Sweet on Wednesday, August 21st, 2019 at 3:59pm

10 Steps To Buying A Home In IdahoBuying a house is not like buying a new pair of shoes or a new dress. It involves more than just inspecting the home and saying “I will buy it”, then moving in the next day. There are many steps to buying a home, and if you are thinking of purchasing one of the many homes for sale in Caldwell ID that you have checked out, you should familiarize yourself with these steps.

10 Steps in Buying a House

To buy the house you want without a hitch, here are the things that you need to do:

1. Fix your finances and get them in order

Before you start browsing for any Boise real estate, you should first get your finances in order. This involves getting your financial history, credit score, and other information pertinent to your finances.

If you find a few red flags here and there, like more than one late payment on a credit card bill, fix it and bring your score up. This way, you will get a better chance of getting quick loan approval and a good rate on your mortgage.  In addition, you'll need some cash for inspections and as little as 3.5% of your purchase price for a down payment.  It's best to start saving for a home as soon as possible as the rates are more favorable if you have more money.

2. Find out more about mortgages

Most home look at a home before even knowing if they qualify to buy it. It's a common buyer mistake. Knowing what you are getting into will prepare you for homeownership. Which types of mortgage are best for you? What's your budget really look like? Just some of the questions that get answered in this step.

3. Get pre-approved for a loan

This may seem like a repeat of a step. There's a big difference between having a good conversation with a loan person and actually getting pre-approved. Getting pre-approved by a lender will help you determine how much you can spend on a house. This will also help you get a leg-up on the competition when you are buying a property that someone else is interested in.

If you already have a pre-approved loan and the other buyer does not, who do you think will get the house?

4. Find a good real estate agent

Working with a Boise real estate agent will open the doors that won’t normally open for you if you were house hunting on your own. Agents can give you information on Boise Real Estate that is not yet listed on real estate sites. They can also help you negotiate prices, help you with the buying process, and even give you insights on whether a home is a good buy or not.

5. Make a list of what you need and want

Of course, there are things that you cannot live without. Make a list of these things and make sure they come with the house you are buying.

And, there are things that you want. Your agent might be able to help you with what's realistic, so ask them. .

6. Start shopping for a home

With the help of a real estate agent, you can now start listing down homes that you are interested in. Visit these properties to check on their condition and everything inside.

7. Make an offer

Once you’ve found a Meridian home for sale that you are interested to buy, make an offer. Also, find out a few more things about a home like what comes with it when you purchase it, what hazards are found nearby, and other similar information. This will help you negotiate the price and land on a great deal.

8. Have the home inspected

This is one step you should never neglect to do. While you might feel good about a house, you don’t really know if there are issues that even the current owner does not know about.

Once your offer is accepted, have an inspector check out the house. When you find a few things that might be worrying, you can renegotiate the price or have the current owner fix them before you close the deal.

9. Have an appraiser come in

Although this is a very important step, it's usually a step that the lender initiates and will do for you.

10. Close the sale

This is the final step in buying a home and is the one where all the signing occurs. This involves the bank or your lender, the current homeowner, and you (and your real estate agents and possibly attorneys). During this step, the completed paperwork will be signed by all parties involved; the lender gets the completed paperwork; the funds are transferred to the seller, and you are now the proud owner of a new home.


The home buying process usually takes all the steps mentioned above, depending on your current situation and what your home hunting process includes. These steps will usually take between a few weeks to a few months, depending on the local market condition, your financing situation, and how many homes with prices that are within your budget.


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