You open a search tab because you want straight answers, not jargon. Real estate feels high stakes, and you want to make the right move the first time. Whether you are wondering how much house you can afford, what contingencies really accomplish, or how to price your home so that it does not sit on the market, the internet is full of answers and opinions. This guide gathers the questions people type into Google every day and gives you practical, specific guidance you can act on. After all, preparation wins.
What Credit Score Do You Need To Buy A Home?
Most lenders set conventional loan approvals around the mid-600s to low-700s, but the minimum can dip lower with government-backed programs. That said, the question is not just, “Can I get approved?” It is, “What will that approval cost me over the life of the loan?” A higher score generally earns you a lower interest rate, better mortgage insurance terms, and more loan options. Improving your score even by a small margin can save you thousands over time.
If your score is on the bubble, work on rapid-impact fixes. Pay down revolving balances to lower your utilization, avoid opening new credit lines in the months before applying, and verify your credit report for errors. Your lender can often run simulations that show how specific changes might move your score. The earlier you start, the easier it is to qualify on favorable terms.
How Much House Can You Afford?
The popular rule of thumb says to keep your total housing payment around 28 to 31 percent of your gross monthly income, but that is only a starting point. Your real comfort zone depends on your other debts, your job stability, your emergency savings, and how much you want to keep investing or saving every month after closing. A lender’s pre-approval amount shows the maximum you can borrow under their guidelines, but it does not always reflect what you actually want to spend.
Build a realistic budget that includes principal and interest, property taxes, homeowner’s insurance, mortgage insurance if applicable, utilities, routine maintenance, and reserves for repairs. Then, stress test the payment. If rates rise before you lock, or if you have to bid over asking, will the numbers still feel right? When you answer those questions up front, you will write offers with far more confidence.
Should You Buy First Or Sell First?
This is one of the toughest sequencing dilemmas. If you buy first, you avoid the scramble to find a replacement home while you are under contract, but you may need a bridge loan, a home equity line, or extra cash to carry two properties for a short period. If you sell first, you might need to negotiate a rent-back period so that you have enough time to shop without pressure, but you risk feeling rushed if inventory is thin.
The market conditions matter. In a fast-moving seller’s market with limited listings, planning to sell first and then buy can create stress, so you may want financing that allows you to move quickly. In a balanced or slower market, selling first can give you leverage and clarity on your net proceeds. Work through timing strategies with your real estate agent and lender together so financing, contract timelines, and contingencies match your plan.
How Long Does It Take To Close?
Most financed purchases close in 30 to 45 days, although some lenders and streamlined files can finish more quickly. The major milestones are loan underwriting, appraisal, title search, inspection negotiations, and final loan approval. If you are paying cash, you can often close in one to two weeks, assuming title work and due diligence move smoothly.
Delays usually come from appraisal issues, documentation gaps, last-minute credit changes, or repairs that drag on. Stay responsive to every document request, avoid major financial moves until you have the keys, and keep your lender, escrow, and real estate agent looped in on anything that might affect your file. A clean paper trail means fewer surprises.
What Happens During The Home Inspection?
During this process, a licensed inspector reviews the property’s systems and structure, then delivers a written report that notes defects, safety hazards, and maintenance items. You will learn about the roof, foundation, plumbing, electrical, HVAC, windows, and more. This is not a code compliance test or a crystal ball, but it is a powerful way to understand the home’s condition and potential future costs.
After the inspection, you can decide how to proceed. You can request repairs, ask for a credit, renegotiate the price, or move forward as-is. If the report reveals a major issue and you have the inspection contingency in place, you can walk away. Your agent will help you prioritize what truly matters, separate normal wear from genuine defects, and craft a response that keeps your deal on track.
How Do You Price Your Home Right From Day One?
Start with the data, then layer on strategy. Comparable sales, pending transactions, and current active listings set your pricing bracket. You also need to consider condition, upgrades, layout, location micro-factors, and seasonal demand. Overpricing may look like a harmless experiment, but it often leads to more days on market and price cuts.
Your goal is to land in the narrow zone where buyers feel urgency and value. Price positioning also influences how your listing appears within search brackets. A few thousand dollars can change which pool of buyers even sees your property online. Your real estate agent will help you read the live market in real time and pick the number that maximizes exposure and momentum.
Begin the Journey Today
Real estate rewards the well-prepared. Use these answers to tighten your plan, ask more questions, and move forward with clarity. When you are ready to take the next step, team up with
The Tom Buerger Team of Compass for trusted insight into Washington, D.C., real estate. The team will help you map your numbers and prepare a strategy that fits today’s market. Confidence follows preparation. You are ready.
