What to Know Before Buying a Home: 5 Common Questions Answered

Buying a home is exciting, but it can also feel overwhelming—especially if it’s your first time. Understanding the home buying process helps you feel confident and prepared every step of the way. Below are answers to five of the most common questions buyers ask when getting started.

Before you begin touring homes, it’s a smart idea to get pre-approved for a home loan. A pre-approval shows how much a lender is willing to loan you based on your finances. This helps you focus on homes within your budget and shows sellers you are a serious buyer. While pre-approval is not required, it can make the process smoother and help your offer stand out in a competitive real estate market.

A home inspection is another important step when buying a house. An inspection allows a licensed professional to evaluate the condition of the home, including major systems like the roof, plumbing, and electrical. This helps buyers make informed decisions and understand the home’s condition before moving forward. While inspections are optional, many buyers choose one for peace of mind during the home buying process.

Earnest money is a deposit a buyer submits when making an offer on a home. It shows good faith and intent to purchase. Earnest money is typically applied toward your closing costs or down payment if the sale moves forward. If the contract terms are followed, this money is usually protected. The amount can vary depending on the home, market conditions, and contract terms.

Many buyers are surprised to learn that the seller often pays the real estate agent’s commission, including the buyer’s agent, though this can vary by transaction. Your real estate agent works to guide you through the entire process, from finding a home to closing. As for timing, how quickly you can buy a house depends on several factors, such as financing, inspections, and contract details. Some purchases take a few weeks, while others may take longer. Working with an experienced real estate professional helps keep everything on track.