Lola, a first-time homebuyer, overcame her fears and made an offer on a charming starter home in a neighborhood she had researched for months. After a successful inspection and negotiation for repairs, including a new oven and air conditioning servicing, she signed the final documents on closing day. With her earnest money secured, repairs completed, and a clean house awaiting, Lola celebrated as she officially became a homeowner, marking the end of a rewarding journey filled with learning and excitement.

Closing day has arrived, and you’re finally about to become a homeowner! After a brief but important signing session at the title company or your lawyer’s office, you’ll sign documents, wire funds, and await confirmation that the deal is official. It’s normal to feel a mix of excitement and nervousness, but remember: you’re not alone. Whether you’re closing remotely or in person, your realtor will guide you through the process, and once the funds are processed, you’ll receive the keys to your new home. From there, take a deep breath, change your locks, and start getting to know your neighborhood—it’s your new community to build and enjoy.

You’ve navigated the tough part and are now in the final stages of your home buying journey. While the title company and lender work behind the scenes on your final approval, there are still a few tasks for you to complete. Start by securing homeowners insurance, consider if you’d like to add a home warranty, and stay responsive to emails from your lender and title company to keep everything on track. As you near closing, everything is falling into place, and soon you’ll be ready to step into your new home!

After your offer is accepted, the next step is the inspection, where you’ll get an in-depth look at your potential new home. During the option period, you’ll work closely with your realtor and inspector to assess the property, identify red flags, and decide whether to move forward with negotiations. While the inspection report might feel overwhelming at first, it’s an essential part of the process. With your realtor’s help, you’ll prioritize major issues like foundation or roof problems, and negotiate with the seller for repairs or credits if necessary. The goal is to make sure your new home is a solid investment, and with the right support, you’ll confidently navigate this crucial step in the home-buying journey.

You’ve made it to the final stretch—congratulations! You’ve found a home, made an offer, and it’s been accepted. Now, the excitement of being under contract is setting in, but so are the nerves. This is where things get real, but don’t worry—you’re prepared! In this module, we’ll guide you through the critical steps that come next: inspections, negotiations, and final approval from your lender. You’ll leave here knowing exactly what to expect and how to protect your investment, ensuring you’re never caught off guard by big repairs after closing. Get ready to take control of the process and move confidently toward your new home!

“Running the numbers” is simply the process of evaluating a home to determine its value, and it’s something you can easily do yourself. Whether you’re considering a fixer-upper or just trying to figure out what price to offer, understanding how to assess a home’s potential is crucial. This process involves looking at key data like the sales price, size, and condition, comparing it to similar homes in the area (comps), and considering any necessary repairs or upgrades. With some basic math and a little research, you can determine whether a home is worth it and how much to offer, helping you make informed decisions as you navigate the real estate market.

When deciding what to offer on a home, analyzing comparable properties, or comps, is one of the most effective ways to guide your decision. By reviewing sold properties similar in size, location, and condition, you can better understand market trends and avoid overpaying. Comps provide real, concrete data on recent sales, helping you compare list prices to sold prices, square footage, lot sizes, and overall condition. While there’s no exact formula for determining the perfect offer, this data offers a clear framework to make an informed, confident decision.

You’ve done the prep work—set up your home search, gotten pre-approved, and started touring homes with your realtor. Now, when you find “the one,” it’s time to make your move. While the idea of submitting an offer can be nerve-wracking, it’s important to know that once your offer is accepted, you’re not locked into buying the home. With protections like the option period and financing contingency, you have room to back out if needed. Before submitting, be sure to review key documents like the seller’s disclosure, comps, and survey, and understand how they’ll help you make an informed offer. Your realtor will guide you through the process, helping you make the best decision every step of the way.

When Jaime first started his home search, he was set on buying a downtown condo to be close to his favorite spots. But after consulting with a lender and doing an Open House Austin financial analysis, he realized he needed a plan that would support his bigger goal: starting his own welding business in two years. By opting for a home near his work and sharing it with a roommate, Jaime found he could save $50,000 and still invest in a property that would appreciate.

Through flexible planning and with guidance from his realtor, Jaime is now set on a path to financial freedom. Ready to create your own smart investment strategy? Connect with Open House Austin to get started!

If you’re thinking, “If I can’t buy my dream home, I’ll wait,” you’re not alone. But waiting could mean missing out on real wealth-building opportunities. At Open House Austin, we see firsthand how first-time buyers benefit from thinking creatively about their first purchase.

Take Juliann, who wanted to travel and teach yoga but bought a home first. She turned it into an income-producing property, which lets her travel while maintaining a stable home base.

By buying sooner in an appreciating Austin neighborhood or converting your first home into a rental, you’re investing in your future. Instead of paying $18,000 in yearly rent, start building equity and get closer to your dream home. Contact Open House Austin to explore your options and take the first step toward financial freedom.