Updated November 2026
Buying your first home is one of the biggest financial steps most people take, and it can feel like everyone else already knows the rules. The good news is that the process follows a pretty predictable order. Once you see the steps laid out, it gets a lot less intimidating. Here is how I walk first-time buyers through it in Sioux Falls and the surrounding Sioux Empire.
Step 1: Get Clear on Your Budget
Before you look at a single listing, sit down with your numbers. Think about what monthly payment you are comfortable with, not just the maximum a lender might approve. Your payment usually includes principal, interest, property taxes, homeowners insurance and, depending on your loan, mortgage insurance or association dues.
Also plan for cash you will need up front: your down payment, closing costs, and a cushion for moving and the first few things a new house always needs. Your lender can give you a written estimate of closing costs for your situation, and that estimate is far more useful than any rule of thumb.
Step 2: Talk to a Lender and Get Pre-Approved
A pre-approval is a lender's written statement that, based on your income, assets and credit, you qualify for a certain loan amount. In our market, most sellers expect to see one with an offer. It also tells you which loan programs fit you. Conventional, FHA, VA and USDA loans all have their own rules, and a local lender is the right person to explain which ones apply to you.
I am happy to share the names of a few lenders buyers have worked with so you can compare. You are always free to choose your own.
For a detailed pre-approval checklist, see my mortgage pre-approval guide.
Step 3: Decide What Matters Most to You
Make two lists: must-haves and nice-to-haves. Bedrooms, garage space, a yard, commute time, single-level living, a finished basement. Be honest about what you will actually use. I also encourage buyers to drive the areas they are considering at different times of day so they can judge commute and traffic for themselves.
If you have questions about schools, the best source is the district itself. Sioux Falls, Harrisburg, Brandon Valley, Tea Area and others all publish boundary maps and enrollment information on their official websites. You can also find city services and planning information on the City of Sioux Falls website.
Step 4: Tour Homes With a Plan
Once you are pre-approved, we start touring. I send listings that fit your criteria, and we schedule showings for the ones you like. When we walk through a home, I point out things that are easy to miss: the age of the roof and mechanicals, signs of water in the basement, grading around the foundation, and how the layout actually lives.
I first studied architectural engineering before real estate, and that background still shapes how I look at a house. I pay attention to how it is built, not just how it is staged.
Step 5: Write a Strong Offer
When you find the one, we look at recent comparable sales together and decide on a price and terms. An offer is more than a number. It includes your earnest money, financing type, inspection contingency, closing date and any items you are asking the seller to include or repair. A clean, well-organized offer can matter as much as price.
The seller can accept, reject or counter. I handle the back and forth and keep you updated at every step.
Step 6: Inspection and Appraisal
After your offer is accepted, you will usually schedule a professional home inspection. I recommend being there for at least the end of it so the inspector can walk you through what they found. Every house has a list. The goal is to separate normal maintenance from items that are worth negotiating.
Your lender will also order an appraisal to confirm the home's value supports the loan. If something comes up with either one, we talk through your options together.
Step 7: Closing Day
In the days before closing, your lender finalizes your loan and the title company prepares the closing documents. You will do a final walkthrough to confirm the home is in the condition you agreed to. Then you sign, the funds transfer, and you get your keys.
One important safety note: wire fraud is real. Always confirm wiring instructions by calling your title company at a phone number you know is legitimate, never one from an email.
Common First-Time Buyer Questions
How much do I need for a down payment?
It depends on your loan program. Some programs allow low or no down payment for buyers who qualify. Your lender is the right person to answer this for your situation.
Should I wait for prices or rates to change?
No one can time the market perfectly. I would rather help you understand what you can comfortably afford today and what the current inventory looks like, so you can make a decision that fits your life.
Do I pay you as a buyer's agent?
How buyer representation is paid is something we will discuss up front and put in writing before we tour, so there are no surprises.
Ready to Start?
If you are thinking about buying your first home in Sioux Falls or anywhere in the Sioux Empire, I would love to help you map out the steps. Learn more on my buyers page, browse my neighborhood guides, or reach out here.
Call or text me at 605.999.3522 or email tyler@amystockberger.com. I will answer your questions and help you take the first step.
Tyler Stunes, Amy Stockberger Real Estate. This post is general information, not legal, tax or lending advice. Please talk with a licensed lender, title company or attorney about your specific situation.
Sources
City of Sioux Falls (city services and planning): https://www.siouxfalls.gov
Sioux Falls School District (boundaries and enrollment): https://www.sf.k12.sd.us
CFPB, Buying a House tools and wire fraud guidance: https://www.consumerfinance.gov/owning-a-home/
Additional first-time buyer resources: HUD's homebuying guide and South Dakota Housing homebuyer programs.