Finding the right home feels exciting – but being pre-approved for your loan is what makes it possible. Whether you’re planning to buy soon or still just thinking about it, getting pre-approved is one of the best moves you can make. Here’s why.

1. What Is Pre-Approval, Really?

Pre-approval is much more than a guess. It means a lender has reviewed your finances (things like your income, assets, credit score, debts, and savings) and told you how much they’re willing to let you borrow for your loan.

It’s basically a reality check for your home search, so you can make sure it aligns with your budget and shop confidently when you’re ready to go.

2. Why It’s a Power Move (Especially Right Now)

The housing market’s been shifting lately with mortgage rates moving, prices moderating, and inventory rising. So, knowing what you’re working with in the current market is a big reason why pre-approval matters. Here’s what it gives you:

• Clarity: You’ll know what you can afford before you fall in love with a house that’s potentially out of reach.
• Confidence: Sellers will take your offer seriously when they see you’re pre-approved because you’re not a risky buyer.
• Control: If rates come down and you want to jump on the moment, you’re already a step ahead with your plan.

As Experian explains:

“. . . you’ll want to make sure you receive your preapproval letter before you start looking at homes so you can submit a strong offer as soon as you find what you want. The process can take anywhere from a day to a few weeks, so if you procrastinate, you may lose out to a competing offer.”

And once you find a home you want to put an offer on, pre-approval has another big perk. It not only makes your offer stronger, it shows sellers you’ve already undergone a credit and financial check. As Greg McBride, Chief Financial Analyst at Bankrate, says:

“Preapproval carries more weight because it means lenders have actually done more than a cursory review of your credit and your finances, but have instead reviewed your pay stubs, tax returns and bank statements. A preapproval means you’ve cleared the hurdles necessary to be approved for a mortgage up to a certain dollar amount.”

Translation: Pre-approval helps you make stronger, more informed decisions – and it helps you avoid missing out on a home or getting stuck on the sidelines when the right one hits the market. Because the reality is, competition might be lower these days, but desirable homes (especially the ones that are priced well) still go quickly.

3. Don’t Wait Until You’re “Ready”

Think of it this way: pre-approval doesn’t mean you’re buying a house tomorrow. It just means you’ll be ready when the time comes. And most pre-approvals are good for 60–90 days and can be refreshed easily if your plans change.

So, here’s a good place to start. Ask yourself this question: “If the perfect home came along today, would you be ready to make an offer?”

If your answer is “not quite,” then pre-approval is your next step.

Bottom Line

Pre-approval doesn’t box you in. It opens doors.

In today’s market, buyers who win aren’t the ones who wait. They’re the ones who plan. So, if you’re even thinking about buying in the next few months, get ahead of the game by connecting with your agent and a trusted lender.

They’ll help you understand what how the process works and walk you through every step along the way, so when the right home pops up, you’re ready.

If you’re trying to decide if you’re ready to become a homeowner in the next twelve months, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates, home prices, the current state of the economy, and more. And, you’re juggling how all of those things will impact the choice you’ll make. It’s a lot.

But here’s what you need to remember. While housing market conditions are definitely a factor in your decision, your own personal situation and your finances matter too. As an article from NerdWallet says:

“Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation, life goals and readiness to become a homeowner.”

So, instead of trying to time the market, focus on what you can control. Here are a few questions that can give you clarity on whether or not you’re ready to make your move.

1. Do you have a stable job?

Buying a home is a big commitment. You’re going to take out a home loan stating you’ll pay that loan back. Knowing you have a reliable job and a steady stream of income is important and will give you peace of mind for a purchase so large. 

2. Have you figured out what you can afford?

If you have a reliable paycheck coming in, the next thing to figure out is what you can afford. This depends on your budget, spending habits, debts, and more.

At this point, it helps to talk with a trusted lender. They’ll be able to tell you about the pre-approval process and what you’re qualified to borrow, current mortgage rates and your approximate monthly payment, closing costs, and other expenses you’ll want to budget for. That way, you have a good idea of what to expect. 

3. Do you have an emergency fund?

As you crunch your numbers, you’ll want to make sure you have enough cash left over in case of emergency. Think about it. You don’t want to overextend on the house, and then not be able to weather a storm if one comes along. It’s not a fun topic, but it’s an important one. As CNET says:

“You’ll want to have a financial cushion that can cover several months of living expenses, including mortgage payments, in case of unforeseen circumstances, such as job loss or medical emergencies.”

4. How long do you plan to live there?

It was mentioned above, but buying a home comes with some upfront expenses. And while you’ll get that money back (and more) as you gain equity, that process takes some time. If you plan to move again soon, you may not recoup your full investment.

So, how long should you stay put in an ideal world? Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“Five years is a good, comfortable mark. If the price of your home appreciates considerably, then even three years would be fine.”

So, think about your future. If you’re going to live there for a while, it may make sense to go for it. But, if you’re looking to sell and move within a year or two because you’re planning to transfer to a new city with that promotion you’ve been working so hard for, or you anticipate you’ll need to move to take care of family, those are things to factor in. 

5. Do you have a team of real estate professionals in place?

If you do, great. But if you don’t, finding a trusted local agent and a lender is a good first step. Having the right team can make figuring out everything else easier. The pros can talk you through your options and help you decide if you’re ready to make your move, or if you have a few more things to get in order first.

Bottom Line

If you want to have a conversation about all the things you need to consider to determine if you’re ready to buy, connect with a local real estate professional.

There’s a lot of conversation about home prices, mortgage rates, and affordability right now – and those things are important. But if you’re thinking about buying a home, it’s worth remembering something the headlines rarely talk about: people don’t buy homes just for financial reasons. They buy them for their lives.

Because while homeownership can absolutely be a smart long-term financial move, it also comes with some emotional benefits spreadsheets just can’t capture. Maybe that’s why a 2025 survey from Fannie Mae notes:

“Consumers were twice as likely to mention lifestyle benefits (67%)—like security, customization, and outdoor space—than financial benefits (34%) when explaining why their homes have become more important in recent years.”

Here are a few reminders of what owning a home gives you that renting never will.

1. A Milestone You Get To Be Proud Of

Buying a home is a big deal. First home, fifth home – it doesn’t matter. It’s a moment you’ll remember. And when you finally get those keys and walk through the door, that feeling of “I did this” hits different. It’s not just a purchase. It’s an accomplishment.

2. A Place That Feels Like Your Reset Button

Life is busy. Having a place that’s truly yours where you can shut the door, take a breath, and settle into your own routine is something renters rarely talk about until they finally experience it. Home becomes the place you go to recharge, not just the place your mail is delivered.

3. Space That Fits the Way You Actually Live

Need a quiet corner for work calls? A backyard big enough for the dog that thinks it’s a person? A shorter drive to see the people who are most important to you? When you own, you get to choose a space that fits your life now and where it’s heading – and it just feels right.

4. Freedom To Make It 100% Yours

Want to paint the kitchen navy? Go for it. Thinking about a wall of floating shelves or a bold wallpaper moment? Do it. Need space for a home gym or a reading nook? Make it happen. Homeownership gives you the freedom to shape your space instead of asking for permission to change it.

Bottom Line

Buying a home isn’t only about dollars and data points – it’s about building a life you love.

So, if you’re thinking about a move in 2026, keep the emotional side in the conversation too. And when you’re ready to explore your options, reach out to a trusted local agent who can guide you through the process with clarity and confidence.