So you’re considering how to go from renting to owning a house. If you are currently renting a house or an apartment and looking for something to call your own, here is some great advice on doing that. While renting does have it’s benefits, becoming a homeowner is a big step and can be a wise one if done correctly. Following these steps to buy a house can help you achieve a smooth transition from a renter to a homeowner.

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Understand the Process

If you have never bought a home before, you most likely don’t fully understand what the process entails. First, you should learn what is involved in buying a home to avoid any surprises along the way. Courses are available about homeownership; however, speaking to a trusted family member or friend with experience in the process can be a great start.

Utilize all resources possible when becoming knowledgeable on homeownership. Resources may include speaking with a real estate agent, mortgage broker, or through online research. An estate agent can help you to not only find the perfect house, but they can also advise you and help you through the process itself. However, it’s important to choose the right estate agent.

budgeting to buy a house


When planning to buy a home, it is important to have a good credit score. The higher your credit score, the better to get pre-approved for a mortgage with a decent interest rate. While your credit score is important, you should also focus on your debts and taxes you might owe. If you have any past due debts, you must pay these off before applying for a mortgage. If your past-due debts are numerous, it is recommended to meet with a credit coach to develop an appropriate plan.

Always consider whether you can afford to buy in the first place and whether, for you, you absolutely need to own a house for financial independence.


Renting can provide a set amount of finances that are dedicated to your rent and utilities. While owning a home may have cheaper monthly payments, there are additional costs to consider and budget for. First, you should budget to determine what type of mortgage payment you can afford while also considering utilities’ costs. Furthermore, beginning to save for a down payment is crucial. The larger the down payment you have, the more likely you will see a lower interest rate on your mortgage and a smaller mortgage payment. You’ll also be a top prospective buyer. 

going from renting to owning

Additional Expenses & Considerations

When considering going from renting to owning your own home, you should also keep in mind costs that you do not typically see as a renter. These costs include emergency expenses, moving fees, home insurance, maintenance, and property taxes. If you are also considering moving into a neighbourhood that requires Home Owners Association fees, this would also be an additional expense to budget for. 

Another thing you should do when you own a house is create a trust for your house. This will ensure your house and investment will be in good hands further down the line with your kids or other family members.

While this may seem overwhelming, don’t fret. Owning your own home is an important step in your life that doesn’t happen overnight. Lean on those with experience and knowledge in this process. Consult with a real estate agent today to discuss how to take the next steps in becoming a homeowner. Don’t let the worries about how to go from renting to owning your own home, stop you from making your dream a reality.