Buying a home is no easy task. You need to have enough money for a down payment and closing costs. You have to research mortgages, how to get one and/or what mortgage will work best for you. You have to research neighborhoods and homes and find a realtor. And once your offer is accepted you have to navigate home inspections, lawyers, and moving.

By breaking down the buying process into these 6 easy steps, it may seem much less daunting.

Step 1: Determine How Much House You Can Afford

Before you start looking for a home, you will need to know how much you can actually spend. The best way to do that is to get pre-appoved for a mortgage. To get preapproved, you just need to provide some financial information to your mortgage broker, such as your income and the amount of savings and investments you have. Your lender will review this information and tell you how much you can borrow. This will tell you the price range of the homes you should be looking at.

Step 2: Find the Right Real Estate Agent

Real estate agents are important partners when you’re buying or selling a home. Real estate agents can provide you with helpful information on homes and neighborhoods that isn’t easily accessible to the public. Their knowledge of the home buying process, negotiating skills, and familiarity with the area you want to live in can be extremely valuable. And best of all, it doesn’t cost you anything to use an agent – they’re compensated from the commission paid by the seller of the house.

Step 3: Shop for Your Home and Make an Offer

Start touring homes in your price range. It might be helpful to take notes on all the homes you visit. You will see a lot of houses! It can be hard to remember everything about them.

Step 4: Get a Home Inspection

Typically, purchase offers are contingent on a home inspection of the property to check for signs of structural damage or things that may need fixing. Your real estate agent usually will help you arrange to have this inspection conducted within a few days of your offer being accepted by the seller. This contingency protects you by giving you a chance to renegotiate your offer or withdraw it without penalty if the inspection reveals significant material damage.

Step 5: Get in touch with your mortgage broker

Have your realtor send the offer documents to your mortgage broker, as well as sending off any additional paperwork that may be required to meet the financing conditions and get your final mortgage approval.  The process of meeting the financing condition can take approximately a week, and your mortgage broker will ensure this is done timely and so you understand all the ins and outs of the mortgage.

Step 6: Close the Sale

Ten-fifteen days before closing, you will sign all of the paperwork required to complete the purchase with a lawyer of your choosing. He lawyer will handle the transfer of the mortgage funds, as well as title and title insurance if required.  On possession day, once all the funds have been transferred, your lawyer will release keys to your realtor, who will in turn pass those keys, for your new home, on to you!