Your Home Buying Journey
Buying a home may be the biggest investment you’ll ever make, so it’s important to be prepared for each step of the journey.
Over time
Owning a home can result in significant financial returns. For example, the average U.S. house value increased 4.59% per year from 1992 until 2023. The all-time high was 19.2% in July 2021 and the record low was -10.6% in November 2008.
While housing values regularly move up and down, they typically increase over the long term. That means if you buy a home today with a 30-year mortgage, the value of your home will likely have increased exponentially by the time you finish paying the mortgage. Home ownership is one of the most effective ways to build wealth that can be passed down through generations.
In addition to the financial return on your investment, buying a home also offers social and emotional benefits that are difficult to quantify. Owning your home can build a sense of security, rootedness, and years of memories for your family and friends.
To become and remain a successful homeowner, you’ll need to pay attention to these important financial steps throughout the journey.
Before You Buy a Home
Buying a home takes careful planning and saving. Learn the steps to prepare financially for making one of the biggest investments of your life.
Ready to Buy a Home
When you have a down payment and you’re ready to buy a home, there are several steps involved in getting a mortgage, preparing for the purchase, and closing on your new home.
After You Buy a Home
By purchasing a home, you’ve reached an important financial milestone. Stay on the right track by continuing to make smart financial moves.
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