Develop a strategy for buying your first house

Follow these tips for creating your own home-buying plan

Instructions: Click each tip to learn more about home-buying strategies.

Determine must-have features

Decide what you need in a home. Consider square footage, number of bedrooms and bathrooms, features like a garage or fenced yard, and neighborhood.

Create a saving strategy

Create a strategy for saving the money you’ll need to buy a house. Forecast your expenses out for a time period you feel is appropriate. This time frame will vary based on your goals, cash flow, and other circumstances. If a PCS move is in your future, consider what your immediate needs are as well as what you’ll need down the line. Review your progress once a month to see how well you’re doing.
Creating and following a budget is a great way to get started. See the topics Spending Smart and Saving Money.

Create family teamwork

If you have a family, the whole family is part of your financial picture. So get them involved in the planning process. Sit down as a family to discuss the goal of owning a home. By getting everyone working together toward the same goal, you can avoid conflicts about how money is being spent, and save the money you need even faster.

A family playing cards.

Keep good records

Tracking what you spend will help you stick to your financial strategy. Keep your record-keeping system as simple as possible so that it doesn’t take too much time.

To evaluate the maximum home loan you’d be comfortable repaying, click the Next button.