First-Time Home Buyer's Complete Guide to Roanoke

Your Roadmap to Homeownership in Roanoke

Buying your first home feels overwhelming—there's so much you don't know that you don't know. This guide breaks down the process into manageable steps.

Step 1: Get Pre-Approved (Not Just Pre-Qualified)

Pre-approval means a lender has verified your income, credit, and assets. Pre-qualification is just a guess. In competitive situations, sellers want to see pre-approval letters.

What you'll need:

• Two years of tax returns
• Recent pay stubs (30 days)
• Bank statements (2-3 months)
• ID and Social Security number

Step 2: Understand Your True Budget

What you're approved for isn't necessarily what you should spend. Consider:

• Monthly payment comfort level
• Property taxes and insurance
• Maintenance and repair reserves
• HOA fees if applicable

Research current prices: Explore our market analytics dashboard to see what homes are selling for by ZIP code and neighborhood.

Step 3: Define Your Must-Haves vs. Nice-to-Haves

Every buyer has non-negotiables. Know yours before you start looking:

• Number of bedrooms and bathrooms
• Commute requirements
• School districts (if applicable)
• Yard size, garage, age of home

Step 4: The Search and Offer Process

Once you find a home, we'll analyze comparable sales and craft a competitive offer. In Roanoke, earnest money deposits typically range from $1,000-$5,000.

Step 5: Inspections and Due Diligence

Never skip the home inspection. It's your chance to understand what you're buying and negotiate repairs if needed.

Step 6: Closing Day

Bring your ID and be ready to sign a lot of paperwork. You'll receive keys once funding is confirmed—usually the same day.

Ready to start your home buying journey? Let's talk about your goals.