We are back! We hope that you have been keeping up with the financial habits that we outlined in the first three parts of our Building Millennial Wealth series.
Now that you have started your financial journey, we can start working towards the daunting task of buying a house. The blog posts is all about walking you through the first steps of this exciting process!
A Little Recap
Let’s recap the important steps we have already learned. If you live by Dave Ramsey’s Baby Steps like we do, then this might seem familiar to you.
- Save $1,000 to get you started.
- Kill your debt and keep it that way.
- Save 3-6 months worth of expenses in an emergency fund.
- Establish the habit of saving 15% of your income for retirement.
NOW, it’s time for the good stuff!
Where Do You Start the Home Buying Process?
There is a lot of thought that has to go into the process of buying a home! It is hard to start throwing money into a bank account if you do not have a plan.
So the first step in the process: ask yourself the following 9 essential questions, as outlined in Glink’s 100 Questions Every First-Time Home Buyer Should Ask.
If you get through these questions and you have finished the first four baby steps then you are good to get saving and on your way towards home ownership!