First Time Homebuyers' Checklist

A Guide to your First Home in the Bozeman Area

Buying your first home can be an exciting and sometimes overwhelming experience.  You may not know where to start, what steps to take, or who to reach out to for help.  Read on to learn our top tips when beginning the journey of purchasing your first home in the Bozeman area.

1.  Determine Home Much Home You Can Afford

In order to have an accurate idea of what type of home you can afford, you will need to take into account your income, any outstanding debts or payments, your credit score, and how much you will need at closing or for a down payment.  Try this online Affordability Calculator to get an idea of where you stand, but remember, this is only an estimate.  You will need to have real numbers and reports before getting approved for your home loan.

2.  Attend a First Time Homebuyer Class

Bozeman offers an eight-hour, comprehensive, and extremely informative course for first-time homebuyers through the HRDC.  From their website: "Completion of homeownership education makes you a smarter, better borrower, and may help you become eligible for down-payment assistance, low-interest mortgages, and matches savings programs.  The course is open to everyone and free of charge."  Click here for more info on this course, and the current class schedule.


3.  Talk with a Lender and Get Pre-Approved

A lender will be able to give you a better idea of where your finances place you in the housing market.  In order for you to get pre-approved, the lender will need to verify all of your financial information (including income, debt, and credit score).  A pre-approval means that a lender has looked into all of this information and has conditionally agreed to loan you a set amount of money for a home.  With a pre-approval in hand, you will have an idea of what types of houses are within your price range.  A pre-approval letter may also set you ahead of the pack when placing an offer.

4.  Find a Realtor

Trying to navigate the complexities of the housing market on your home can be extremely overwhelming.  We believe working with a Realtor is always the way to go when searching for your first home.  But how do you find one?  Ask family and friends for recommendations.  According to realtor.com, a referral is the most common way new buyers find their agent.  You can also look online.  Read agent bios and check out their websites and social media pages to see if they might be a good match for you.  Your real estate agent will be guiding you through every step of the process, so it is important that you find someone you trust and can understand your specific needs.

5.  Determine Your Priorities and Look at Properties

Let your real estate agent know what is most crucial to you in a new home (for instance, do you need to have a certain amount of bedrooms, or want to be in a specific neighborhood or area).  Your agent will have the most up-to-date information on properties that suit your needs, and can help set up showings at times that work for you.  According to the National Association of Realtors, buyers spent an average of 10 weeks looking at homes and saw approximately 10 different properties in that time frame before purchasing, so keep this in mind when working with your Realtor.



When you've found the home of your dreams, your real estate agent will help walk you through the steps of submitting an offer, completing paperwork, and closing on your home when the time is right.  Purchasing your first home should be an exciting, rewarding experience.  Follow these steps and stay in contact with your Realtor to ensure the process is seamless and all of your needs are being met.

Do you have more questions about buying your first home?  Reach out to us here or leave us a comment!