David jumps right into the first step in his 10-step must-do list for first-time home buyers. Before anything else, deciding that you’re ready to buy a home is the necessary catalyst in leading you to all the other steps and, ultimately, a home. Check it out.
Here are some power takeaways from today’s conversation:
- Why deciding is the most important step
- Over-researching does exist
- Trust the process
- Believe in yourself
[01:15] Don’t Fall to Analysis Paralysis
The first - and most important - step in the home-buying process is deciding that you want to buy a home. You can research all you want, but nothing will actually happen until you make that commitment that you want to be a homeowner and you’ll do what’s necessary to get there. So, don’t waste time cruising the Interweb for months on end - just decide whether or not you’re ready to take that step! When you’ve decided, then you can start assembling your unicorn team and get some REAL answers on how to move forward, no matter how far in the future you’re prepared to buy. And remember: buying a home is not a crazy big expense. It's a rent replacement strategy.
[15:10] Trust the Process
The decision starts with you. And in order to make the decision to buy a home, you need to trust the home-buying process and have CONFIDENCE that this is the right choice for you. When the going gets tough, which it probably will, you need to have unshakeable confidence that this is what you want so you can keep pushing through. That means you shouldn’t buy a home if it’s what you feel pressured to do, but it also doesn’t mean that you shouldn’t buy a home because you don’t want to “conform.” Do whatever you want, but make sure it’s actually what you want. Note, too, that the first step has nothing to do with getting pre-approved. That comes in the next step. The most important part of the journey is making sure it’s the right one for you.
The bonus step within step one is that you have to believe in this process. Believe in the numbers. Believe in your experts. You don’t have to have the perfect credit score, or $20,000 in the bank, or have paid off all your student loans. You have to be able to ignore the myths and trust that when you see the numbers and develop your plan, it’s going to get you where you need to go.