Steps to Becoming a Homeowner in 2025!

Steps to Becoming a Homeowner in 2025

By: Samantha Crowley

Make the Jump to Homeownership

With 2025 in full swing, many people are setting homeownership as their goal for the year. If you're ready to buy a home, the earlier you prepare, the smoother the journey will be. While it can feel like a big task, breaking it down into simple, actionable steps will set you up for success. Here’s how to get ready to find—and own—your dream home in 2025.

1. Pause on the Credit Cards

The temptation to swipe your credit card for holiday deals or rewards points is real, but it’s time to hold back. Avoid opening new lines of credit or making big charges, as these can increase your debt-to-income ratio and lower your credit score. Lenders look closely at your credit habits, and staying disciplined now will make a huge difference when it’s time to qualify for a mortgage.

2. Put Big Purchases on Hold

That shiny new car or tempting big-ticket item can wait. Even if you think the monthly payment is manageable, lenders consider all your obligations when calculating your mortgage approval amount. Keeping your debt low gives you more flexibility to buy the home you really want.

3. Know Your Credit Score

Your credit score is your financial passport to a mortgage. A score of 740 or higher gets you the best rates, but don’t worry if you’re not quite there—many lenders approve loans with scores as low as 580. To improve your score, pay bills on time, lower your credit utilization (keep it below 30% of your limit), and avoid opening new accounts.

4. Start an Emergency Fund

Homeownership comes with unexpected expenses, so it’s wise to have a reserve fund. Aim to save at least three to six months' worth of expenses to cover anything from minor repairs to unexpected costs. Instead of splurging on the latest gadgets, ask for cash gifts or start saving your tax refund to bolster your fund.

5. Research Mortgage Lenders

Before you fall in love with a home, find a lender who can guide you through financing. A reputable lender will help you understand your options and provide the best rates. Look for someone with excellent reviews, experience, and a track record of smooth transactions. If you’re unsure where to start, I’d be happy to recommend trusted professionals I work with regularly.

6. Get Pre-Approved for a Mortgage

Pre-approval is a game-changer. It shows sellers that you’re serious and capable of buying their home, giving you an edge in competitive markets. Gather key documents in advance, including proof of employment, bank statements, and tax returns. During this time, avoid big financial changes like switching jobs or making large purchases, as these could impact your approval.

7. Build a Budget and Stick to It

Determine how much house you can afford, including not just the mortgage but also taxes, insurance, utilities, and maintenance. It’s important to leave room in your budget for the unexpected. A realistic budget ensures you’ll feel confident and comfortable in your new home—not stretched too thin.

8. Start Browsing Listings

Once you’re pre-approved, the exciting part begins—searching for your dream home! Use tools like www.samanthacrowley.ca to explore what’s on the market in Peterborough and surrounding areas. But don’t do it alone—I’m here to make the process easier and more tailored to your needs.

Connect with me to discuss your real estate questions, and I’ll set up a personalized portal just for you. This custom tool will send notifications of listings that match your criteria—directly to your inbox to stay informed and ahead of the competition. 

With the right tools and guidance, finding your perfect home is not only possible—it’s exciting!

9. Work with a Trusted REALTOR®

When it comes to buying a home, having the right REALTOR® by your side makes all the difference—a local expert who knows the market inside and out and will help you navigate every step of the process, from finding the perfect home to negotiating the best deal.

Working with the a trusted REALTOR® means having a dedicated advocate who prioritizes your needs and makes your goals their own. They’ll connect you with trusted professionals, including inspectors, lawyers, and mortgage experts, to ensure the entire journey is smooth and stress-free.

10. Make Your Move

When the right home comes along, you’ll be ready to make an offer and move forward with confidence. From inspections to closing paperwork, your team will help you through the final steps. Before you know it, you’ll have the keys to your new home and a fresh chapter to begin!

Let’s Make 2025 Your Year!

Buying a home is exciting! By following these practical steps and staying focused on your goal, you’ll set yourself up for success. If you’re ready to take the first step, I’m here to help! Visit www.samanthacrowley.ca to browse listings and connect with me!

Let’s make your homeownership dream a reality, together! With my guidance and expertise, you’ll feel confident and supported every step of the way.

Your dream home is within reach! 🌟

Samantha Crowley - Broker REALTOR® - 705-872-6118