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Steps to Hawaii Homeownership

Owning a home is easier than you think.
Posted: May 20, 2020 by Coldwell Banker Island Properties

Owning a home is easier than you think. To help make your dreams a reality, follow these simple steps:

Step 1 - Save for Your Downpayment
Create a budget to help you set a savings goal. Did you know, in many instances you can put less than 20% down on a home purchase! 

Step 2 - Know Your Credit Score
Your credit score is important in getting a loan. Clean up any outstanding debts and be sure to avoid large purchases like a new car.

Step 3 - Consult with Your REALTOR®
Your agent will help guide you through the home buying process. This includes everything from finding a home that meets your criteria to submitting a purchase offer to guiding you through each step of the escrow process. 

Step 4 - Get Pre-Approved
Now that you are serious, its time to get pre-approved. This important step will differentiate you as a serious buyer while providing you with clear direction on what you can afford.

Step 5 - Start Searching
Work with your agent to find a home in your budget that meets your needs. Be sure to ask for property alerts so you can act quickly if a new home is listed for sale.  

Step 6 - Make an Offer
With the assistance of your agent, determine a price and negotiate the contract offer. For many, once the offer is submitted every phone call brings great anticipation. Try to remain calm and patient as you await the response to your offer. 

Step 7 - Have a Home Inspection
Once your offer has been accepted, a home inspection is critical next step as it will identify any hidden issues with the home. 

Step 8 - Get a Home Appraisal
Since a home is often the biggest purchase one will make in their life, a home appraisal ensures the property is worth the price you are prepared to pay.

Step 9 - Close the Sale
Once your loan has been approved and any contingencies removed, you can sign the final paperwork.

Step 10 - Move In
Congratulations! You are officially a new homeowner.

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