Buying a house is a big step in anyone's life, but it's particularly monumental when it's your first. The team at Open Real Estate in Lakewood, CO, understands how overwhelming the process seems to newcomers. To help ease your nerves, the agents have outlined the basic steps to buying a home, below.

The 5 Steps of Buying a Home

1. Determine Your Needs

It's important that you know what you're looking for in a home before you enter the market. Begin by evaluating your budgetary goals as well as your size and location needs. Create a list of your wants and needs, and then begin researching the area to pinpoint your ideal location.

2. Get Your Finances In Order

Before buying a home, you need to find financing. First, evaluate your credit situation to determine your lending options. If your score is subpar, put off buying a home for six months to a year. Once the rating is up, request a preapproval from a lender.

3. Find Your Dream Home

When your financing is in place, it's time to find the right home for your circumstances. Start by looking for properties that match your budgetary needs, and then narrow down your list based on your must-have items. Next, you'll work with your agent to schedule viewings at each site. When you find the right one, it's time to make an official offer to the seller. This process may require a little back and forth until both parties are satisfied.

4. Complete Inspections & Appraisal

Once your offer is accepted, the countdown begins. First, you'll schedule a home inspection followed by an appraisal. If there are any issues found or the home appraises far under the offer, you'll have the opportunity to send a revised contract to the seller. Both of these reports are required before a lender moves into the underwriting process.

5. Close On Your New Home

After the lender sends their final approval, you've come to the end of the home buying journey. The day before your scheduled closing, you'll complete a final walk-through of the home with your agent. This step is designed to ensure that all of the steps and changes your requested were met by the seller. The following day you'll meet with your team, a representative from the title office, and, typically, the sellers team to finalize the paperwork and exchange keys.

While buying a home may make you feel overwhelmed, the right team makes the process a breeze. In the greater Denver area, buyers turn to Open Real Estate for unmatchable guidance. The real estate agency offers personalized, one-on-one attention every step of the way. Begin your house hunting journey today by calling (303) 232-1111, or browse their featured listing on their website.