The 2-Year Game Plan to Homeownership

Homeownership might be part of your future, even if you’re not ready to buy quite yet. In fact, giving yourself a year or two to prepare can be a great opportunity to get your finances in order, learn how the process works, and feel more confident when it’s finally time to start looking at homes.

At Imagine Home Group, we’re here for more than just the house hunt. We can help you understand what comes next, connect you with trusted professionals, and start building a plan well before you’re ready to buy.

Here’s how to make the most of the next two years.


YEAR ONE: START PREPARING

Set Your Financial Goals

Take a look at where you are financially right now. Consider your monthly income, regular expenses, current savings, and how much you could realistically put away each month toward purchasing a home.

From there, set a specific savings goal for your down payment and other home-buying expenses. Knowing what you’re working toward makes it much easier to measure your progress along the way.


Build a Budget You Can Stick With

Creating the budget is one thing. Following it month after month is where the real work comes in!

Take a close look at your spending and see where you may be able to cut back. Even smaller expenses can add up over the course of a year. Decide on an amount you can consistently save each month and make it part of your regular budget.


Connect With a Lender Early

There’s no reason to wait until you’re ready to make an offer on a house before talking with a lender.

Meeting with a lender early can give you a much clearer picture of where you stand financially. They can explain what you’ll need to qualify for a mortgage, identify areas you may want to work on, discuss down payment expectations, and give you an idea of how much you may eventually qualify for.

And if you don’t already have a lender, that’s okay! Imagine Home Group has a handful of trusted and experienced local lenders we’re happy to recommend. They can answer your questions, explain your options, and help you create a plan based on your goals—even if buying a home is still a year or two away.


Strengthen Your Credit

Your credit can affect both your mortgage options and your interest rate, so this is a great time to focus on improving or maintaining it.

Keep paying your bills on time, avoid taking on unnecessary new debt, and work toward paying down existing balances. If your credit needs some work, your lender can also help you understand which areas may be most important to address.


Learn About the Buying Process

Use this first year to become familiar with what buying a home actually involves. Learn about financing, preapproval, making an offer, inspections, appraisals, closing, and all the steps in between.

You can also begin paying attention to the local real estate market. Watch home prices, explore different neighborhoods, and see what types of homes are available at different price points. You don’t need to know everything—you’re simply giving yourself a better understanding of what to expect.

Be sure to follow Imagine Home Group on social media and watch for our monthly newsletters for local real estate updates, home-buying information, new listings, and more.


YEAR TWO: GET READY TO MAKE YOUR MOVE

You’ve spent the first year preparing. During year two, you can start putting those plans into action.


Explore Your Mortgage Options

Check back in with your lender and take a closer look at your financing options.

There are several types of mortgage programs available, and your lender can help you determine which ones may fit your financial situation. By this point, you should also have a better idea of how much you’ve saved, what monthly payment feels comfortable, and how much you want to put toward your down payment.


Build a Separate Emergency Fund

Try not to make your down payment your only source of savings.

Unexpected expenses are part of homeownership, so having a separate emergency fund can be incredibly helpful. If the water heater goes out, your car needs repairs, or another surprise expense comes up, you won’t have to immediately dip into the money you’ve set aside for your home purchase.


Choose a Local Real Estate Agent

As your buying timeline gets closer, find an agent you trust to guide you through the process.

Your agent can help you understand the current market, narrow down neighborhoods and homes, prepare and negotiate an offer, navigate inspections, and guide you through the details leading up to closing.

At Imagine Home Group, you don’t need to wait until you’re ready to schedule showings to contact us. We’re happy to answer questions, help you understand what lies ahead, connect you with trusted professionals, and help you put together a plan ahead of time.


Start House Hunting!

Once you’re financially prepared and preapproved, it’s time for the part you’ve been working toward.

Your Imagine Home Group REALTOR® can create a personalized home search, send you new listings that match your needs and budget, and schedule showings so you can begin finding the right fit.

And eventually, all that planning and preparation can lead you to the one that feels like HOME.


LET'S IMAGINE HOME

Buying a home involves a lot of moving pieces, but you don’t have to figure them all out by yourself. Whether you’re hoping to buy in two months or two years, Imagine Home Group is here to answer questions, help you prepare, connect you with trusted local lenders and other professionals, and guide you through the process when you’re ready.