Shownotes: Buying a home for the first time can be overwhelming, but having a step-by-step process to follow can make everything clearer, right? WRONG. David Sidoni gets thousands of questions from first-time home buyers asking for a step-by-step list they can follow to buy a home. Unfortunately, everyone is a special snowflake with different starting points and circumstances, so having a one-size-fits-all rulebook isn’t really in the cards. But, since so many folks have asked, David did his best to give you the Chutes and Ladders version of his step-by-step plan.

Here are some topics from today’s discussion:

• Why every plan is individual
• Deciding to buy a home is the vital first step
• Why getting pre-approved is NOT the first step
• How you can get started on your plan today

Episode Highlights:

[01:51] We All Start From a Different Square

Rolling with the board game analogy, it’s important to know that everyone’s 10 steps start from a different place on the board. You could be in a completely separate spot in life from someone else, which heavily influences your home-buying process. Knowing where you are on the board is the key to using it properly.

[7:11] The First Two Steps to Success

In the 10 steps to buying a home for the first time, there are two steps that are not on the list that might shock you. The first one is getting pre-approved for a loan. The second is finding a realtor. Why?! Because finding a guide in your home-buying process is so so so important for this very reason – it covers both of these steps. DO NOT shop around for pre-approvals and rates first. Look for a realtor first who can talk you through the process. Instead, your first two steps should be:

• DECIDE to buy a home. Yes, you need to be committed to the idea first.
• Find a GUIDE. You also need to find someone who cares about you and knows the process to help you navigate these real estate waters. It doesn’t necessarily have to be a realtor, but needs to be someone who knows what’s up.

[27:24] Sound Byte

[12:08]- [12:32] I say again, home ownership is the best hedge against inflation. When things get rough, rents don’t go away. And, in fact, they don’t go down. They go up. So a nice fixed monthly payment, along with equity and just the stability of knowing that nothing’s going to change maybe when your job is… boy, that feels good.