Home Buying Checklist

Buying a home involves dozens of steps, multiple deadlines, and a cast of characters — lender, agent, inspector, appraiser, title company, insurance agent. Miss one step and the whole timeline shifts. This checklist is designed to keep you on track from the moment you start thinking about buying through the day you get the keys.

Phase 1: Foundation Work (6-12 Months Before Buying)

• Check your credit reports. Pull all three (Equifax, Experian, TransUnion) at AnnualCreditReport.com. Dispute errors — they’re more common than you’d think, affecting roughly 1 in 5 reports.
• Know your credit score. Mortgage lenders use FICO Score 5 (Equifax), FICO Score 2 (Experian), and FICO Score 4 (TransUnion) — these are different from the scores on Credit Karma. Target 740+ for the best rates.
• Pay down revolving debt. Credit utilization below 30% is good. Below 10% is great. Paying off a credit card with a $3,000 balance can boost your score 30-50 points in 60 days.
• Stop opening new credit accounts. Each hard inquiry dings your score 5-10 points and new accounts lower your average age of credit.
• Start saving aggressively. Target: down payment (3-20% of your expected purchase price) + closing costs (2-5%) + 3-6 months reserves. Park the money in a high-yield savings account — not in the stock market.
• Track your income documentation. You’ll need 2 years of W-2s, recent pay stubs, 2 months of bank statements, and 2 years of tax returns if self-employed. Start organizing now.
• Research neighborhoods. Commute times, school ratings (GreatSchools.org), crime stats (CrimeMapping.com), flood zones (FEMA maps), and property tax rates. These don’t show up on Zillow listings.

Phase 2: Getting Serious (3-6 Months Out)

• Get pre-approved by at least 2-3 lenders. Compare their rates, fees, and closing cost estimates. The Loan Estimate form is standardized — you can compare apples to apples. All credit pulls within a 14-45 day window count as a single inquiry.
• Decide on your loan type. Conventional, FHA, VA, or USDA? Each has different down payment requirements, insurance costs, and credit thresholds. Our first-time buyer guide breaks these down.
• Interview 2-3 buyer’s agents. Ask: how many transactions did you close last year? What’s your average days on market? How do you handle multiple-offer situations? What’s your availability on weekends?
• Sign a buyer agency agreement. Required since the NAR settlement. Understand what you’re agreeing to — especially the compensation terms and the agreement’s duration.
• Define your must-haves vs. nice-to-haves. Three bedrooms might be non-negotiable. A two-car garage might just be preferred. Be honest with yourself — this list will keep you focused when you’ve seen 20 houses and everything starts blurring together.
• Set up automated search alerts. Redfin, Zillow, and your agent’s MLS feed. Set them slightly wider than your criteria — a home listed at $410,000 might sell for $395,000.

Phase 3: Active Search and Offer

• Tour homes efficiently. Limit yourself to 5-7 per day maximum. Take photos and notes. Rate each one on your non-negotiables immediately after the tour.
• Run the real numbers before offering. Purchase price is one number. Monthly payment including principal, interest, taxes, insurance, PMI, and HOA is the number that matters. Use a mortgage calculator that includes all of these.
• Submit your offer. Your agent will prepare the purchase agreement. Key components: offer price, earnest money amount (1-3% of purchase price), contingencies (inspection, appraisal, financing), proposed closing date, and any requests (seller concessions, included appliances).
• Deposit earnest money. Usually due within 3 business days of accepted offer. Goes into an escrow account. Typically $5,000-$15,000 depending on your market and price point.
• Schedule the home inspection. Do this immediately — your inspection contingency period is usually 7-14 days. Cost: $400-$600 for most homes. Add $200-$300 for a sewer scope. Add $150-$250 for radon testing if applicable to your area.
• Review the inspection report. Focus on: structural issues, roof age and condition, HVAC age, plumbing condition, electrical safety, water intrusion. Cosmetic issues are not worth negotiating over.
• Negotiate repairs or credits. Submit your repair request before your contingency deadline. Be reasonable — asking for $40,000 in repairs on a $350,000 house will kill the deal. Focus on safety and big-ticket items.
• Appraisal ordered by lender. This happens after your inspection contingency is resolved. Cost: $400-$700 (you pay). If it comes in low, see our guide on handling appraisal gaps.

Phase 4: Closing (Final 2-3 Weeks)

• Get homeowner’s insurance. Required by your lender. Shop at least 5 quotes. Average cost is $1,800-$2,500/year for a standard policy, but varies wildly by state and property. Bundling with auto saves 15-25%.
• Title search and title insurance. The title company researches the property’s ownership history to make sure nobody else has a claim to it. Title insurance protects you if something was missed. Lender’s title insurance is required; owner’s title insurance is optional but strongly recommended ($500-$3,500 one-time cost).
• Review the Closing Disclosure. You’ll receive this at least 3 business days before closing. It shows every dollar — loan terms, monthly payment, and a line-by-line breakdown of closing costs. Compare it to your Loan Estimate. If numbers changed significantly, ask your lender why.
• Do your final walkthrough. 24-48 hours before closing. Verify: agreed repairs were completed, the home is in substantially the same condition as when you went under contract, nothing was removed that was supposed to stay, and no new damage occurred.
• Wire your closing funds. Your Closing Disclosure will show the exact amount due. Wire it 1-2 business days before closing. CRITICAL: verify wire instructions by calling the title company directly at a number you looked up — not a number from an email. Wire fraud targeting home buyers has exploded.
• Sign closing documents. Bring government-issued photo ID. You’ll sign the promissory note, deed of trust, closing disclosure, and various regulatory forms. Budget 60-90 minutes.
• Get your keys. Sometimes at the closing table, sometimes after the deed is recorded at the county office (can take 1-4 hours). You now own a home.

Post-Closing: First 30 Days

• Change the locks. Previous owners, their contractors, cleaning crew, and neighbors may have copies.
• Transfer utilities — water, gas, electric, internet. Some require deposits.
• File your homestead exemption if your state offers one. This reduces your property tax bill and protects your home from certain creditors. Deadline varies by state.
• Set up a home maintenance fund. Budget 1-2% of your home’s value per year for maintenance and repairs. On a $400K home, that’s $4,000-$8,000/year.
• Keep all closing documents — you’ll need them for taxes, future refinancing, and eventually selling.

Frequently Asked Questions

What documents do I need for the mortgage application?

Two years of W-2s, two recent pay stubs, two months of bank statements (all pages, even blank ones), government ID, and your Social Security number. Self-employed? Add two years of complete tax returns with all schedules, and possibly a profit-and-loss statement for the current year.

How long does closing take?

The national average is 43 days from accepted offer to closing with a mortgage. Cash purchases can close in 14-21 days. VA loans tend to take a few days longer than conventional due to the VA appraisal process.

Can I back out after the inspection?

Yes, if your contract includes an inspection contingency (and it should). You typically have 7-14 days from the inspection to formally invoke the contingency. Your earnest money is returned. After that deadline passes, backing out gets expensive.

Do I need to be present at closing?

In most states, yes — at least for signing. Some states allow power of attorney or remote online notarization (RON) for buyers who are out of state. Check with your title company 2-3 weeks before closing if you can’t attend in person.