What do I actually need to buy a home?
One of the most common questions I hear is, “What do I actually need to buy a home? Perfect credit, no debt, and a job that pays me 200k a year?”
Most people assume the bar is much higher than it really is. Between myths, conflicting advice, and general uncertainty, it is easy to feel like buying a home is out of reach.
The truth is that buying a home does not require perfection, but it does require preparation and clarity around a few key factors. Many buyers are closer to being ready than they think, and understanding what actually matters can make the process feel far more approachable.
What you actually need
1. A Stable Source of Income
You do not need a perfect job or a six-figure salary. Here is what matters:
- Consistent income, usually for the last 2 years
-
W-2, salaried, hourly, or self-employed income can all work
Lenders look for reliability, not perfection. Changing jobs does not automatically disqualify you, especially if you stayed in the same field.
2. Decent Credit, Not Perfect Credit
You do not need an 800 credit score. What lenders typically look for:
- Mid to high 600s opens many doors
- Higher scores often mean better rates, not eligibility
- Credit issues can often be explained or worked around
I always recommend understanding your credit early so there are no surprises.
3. Savings for Upfront Costs
Buying a home is not just about the down payment. Upfront costs may include:
- Earnest money
- Inspection costs
- Closing costs
- Down payment, which can be lower than expected depending on the loan
Many buyers are surprised by how manageable this can be once it is broken down.
4. Pre-Approval From a Lender
Pre-approval shows you what you can afford and shows sellers you are serious. This helps with:
- Setting realistic expectations
- Strengthening your offer
- Moving quickly when the right home comes up
I help buyers connect with lenders who explain things clearly and realistically.
5. A Clear Understanding of Your Budget
This goes beyond what a lender approves. We talk through:
- Monthly payment comfort
- Utilities, HOA dues, and taxes
- Lifestyle and future plans
The goal is a payment that feels sustainable, not stressful.
6. The Right Guidance
This is the part most people overlook. Buying a home involves:
- Negotiation and strategy
- Inspections and attorney review
- Timelines, deadlines, and protections
Having someone explain what matters and advocate for you makes a real difference.
Your main takeaway
You do not need to have everything figured out to start. You do not need perfect timing, perfect finances, or every answer upfront. What you need is the right information, honest guidance, and a plan that fits where you are now and where you want to be.
If you are wondering whether buying is realistic for you, that conversation can begin well before you are ready to tour homes or submit offers. Taking the time to understand your options, ask questions, and clarify next steps can turn uncertainty into confidence. When you do decide to move forward, you will be doing so with clarity, not pressure.
