A First-Time Buyer’s Guide to the Home Buying Process in Portland and SW Washington

Smart, step-by-step strategies for navigating Oregon’s competitive real estate market

Buying your first home is exciting—but in a market like Portland, it can also feel overwhelming. Rising prices, tight inventory, and fast-moving listings leave many first-time buyers unsure of where to begin.

At Grand Union Real Estate, we get it. We know the terrain—from financing and neighborhoods to the emotional highs and practical hurdles of the home buying process. This guide walks you through every key step, with strategies grounded in community, clarity, and long-term value.

Step 1: Understand Your Financial Position

Before touring homes, you need a clear picture of what you can afford. That starts with a hard look at your finances—credit, savings, income, and debt.

Review Your Credit Score

Your credit score affects your mortgage eligibility and interest rate.

• Pull your credit report

• Fix errors

• Pay down existing debt

This is a core component of responsible homebuyer education, and it can save you thousands in the long run.

Calculate Your Budget

Consider your full financial picture—not just mortgage payments, but also:

• Property taxes

• Insurance

• Maintenance and HOA fees

Use online tools or speak with a mortgage advisor to calculate a realistic monthly budget.

Get Pre-Approved for a Mortgage

Mortgage pre-approval helps you move fast when the right listing appears—and signals to sellers that you’re serious. It also sets clear boundaries for your home search and reduces delays down the line.

Step 2: Research the Market

Portland and SW Washington offer a wide range of communities—from bustling city centers to quiet residential pockets.

Explore Neighborhoods

Visit areas that align with your lifestyle and values. Ask yourself:

• How far is your commute?

• What schools are nearby?

• Is there a strong sense of community?

Whether you’re eyeing Hazel Ying Lee Apartments, looking at a variety of 2-bathroom homes, or researching urban villages, getting a feel for the place is essential.

Analyze Market Trends

• Track average home prices and neighborhood growth

• Note how long homes stay on the market

• Research upcoming urban developments and infrastructure improvements

This insight helps you time your offer and avoid overpaying in a bidding war.

Step 3: Work with a Trusted Real Estate Partner

No algorithm can replace a real guide. At Grand Union, we bring hyper-local knowledge, mission-aligned housing strategies, and experience negotiating in Oregon’s competitive real estate market.

Why Grand Union

• Licensed agents with deep roots in Portland and SW Washington

• Access to programs for first-time buyers, including down payment assistance and CLT (Community Land Trust) models

• Support navigating complex issues, from native homeownership gaps to local nonprofit housing initiatives

We believe in people-first real estate—and our work reflects it.

Step 4: Make a Strong, Strategic Offer

In a fast-moving market, your offer has to work hard. It's more than just a number—it’s your story, your readiness, and your strategic positioning.

Make a Competitive Offer

Price is key—but so is context. We’ll help you:

• Assess comps and market movement

• Decide when to push and when to hold

• Understand local dynamics (like homelessness rates or regional equity programs) that may influence offer strength

Stay Flexible

• Be open to the seller’s preferred closing timeline

• Allow some room for minor repairs or post-closing occupancy These details can help you win the deal without increasing your price.

Add a Personal Touch

When appropriate, include a short letter that introduces you to the seller. In tight races, human connection can make a lasting impression.

Step 5: Navigate the Closing Process

Once your offer is accepted, things move quickly. We’re here to ensure nothing gets missed.

Conduct a Home Inspection

Always hire a licensed inspector. If issues arise, we’ll help you negotiate repairs or price reductions—and connect you with programs like the critical home repair program or relevant home repair grants if applicable.

Secure Final Mortgage Approval

Submit all necessary paperwork, respond promptly to lender requests, and keep lines of communication open.

Finalize the Paperwork

We walk you through every document—line by line—so you’re confident before signing. We’ll also coordinate with nonprofits and local agencies if you’re using unique financing or support programs like the Minority Homeownership Assistance Collaborative.

Step 6: Celebrate Your First Home

The keys are just the beginning.

At Grand Union, we believe every closed deal is a chance to strengthen community. That’s why a portion of every transaction supports local partners—helping expand housing access, preserve affordability through Permanent Supportive Housing and fight homelessness, ensuring neighborhoods where families can thrive.

Whether you’re moving into Hazel Ying Lee Apartments, considering a Northeast Homeownership Program, or investing in a historic home in SW Washington, we’re with you from day one.

Ready to Take the First Step?

Oregon’s real estate market isn’t easy—but with the right partner, it’s navigable. If you're a first-time buyer ready to move forward with confidence, Grand Union Real Estate is here to guide the way.

Let’s make your first home one that means something—for you, and for the community around you.