Is owning a home on your 2024 vision board? If yes—or even maybe—it's never too early to start preparing for that big milestone.

Buying in the current market can be difficult, but not impossible. Below, are some tips to get you started in the process and help you feel more confident no matter where your homebuying journey takes you.

1. Build your team early

You don’t have to go through the homebuying process alone—in fact, it’s best to get help early in the process. Check in with a Home Lending Advisor as one of your first tasks because they can help you navigate the homebuying process, everything from considering homeownership to walking through your new front door.

Connecting with a Home Lending Advisor early will also allow you to know what you can afford before you start your home search. They can educate you on product terms, rates and fees, and help you to identify options that work for you throughout your homebuying journey. Once you’re ready to shop, your lender may even be able to help connect you to a reputable real estate agent, such as with a tool like Chase Agent Express.

2. Get familiar with the ins and outs of homebuying

As a first-time homebuyer, there’s a lot to learn. And, while the current economic landscape may be all over the news, there’s a lot more to a mortgage than interest rates. You’ll want to get to know the lay of the land—understand the mortgage application process, learn how to comparison shop, and avoid hidden costs of getting a mortgage. To shop effectively, you’ll need to understand both interest rate and fee options. The good news is there’s a wealth of information out there to help between your Home Lending Advisor’s expertise and free online educational resources.

Did you know there are several financial assistance programs for first-time homebuyers? These programs are aimed at making homeownership more affordable by reducing the upfront costs. A Home Lending Advisor can help you find those programs and understand what you may be eligible for. If you’re not sure where to start, check out Chase’s Homebuyer Assistance Finder where you can search for grants and programs, like Chase’s $5,000 grant that’s available in more than 15,000 communities nationwide.

Lastly, as you prepare to apply for a loan, be sure to understand the documentation you'll need to provide to lenders. The more you know, the better equipped you'll be to move quickly and make informed decisions.

3. Determine what you need and what you want

Before you look for a home, you'll need to make a list of what features are “must-haves” versus “nice-to-haves.” This can be a fun process but make sure you’re differentiating between your must-haves, or nonnegotiables, and nice-to-haves… the luxuries or non-essentials. Every homebuyer has different priorities, but remember to be flexible, as that can unlock more possibilities in your budget.

After you’re feeling good about your list, research the current state of the real estate market in your desired location to understand how much your ideal home costs and determine your price range. You may need to consider alternative neighborhoods with more inventory or that better fit your budget. With a tool like Chase MyHome, you can find and save your favorite houses and use a variety of helpful calculators to get an idea of what your mortgage payment may look like.

It's important to keep in mind that this will be your first home. Even if it lacks some bells and whistles, you can still add more features in the future or use the property as a steppingstone for your dream home.

4. Lock in your rate at the time that’s right for you

Mortgage rates fluctuate over time. The rate you could get today may not be the rate you’d get tomorrow. That’s why it’s important to shop for the best rate and lock it in once ready. For example, Chase’s Homebuyer Advantage Program offers Lock & Shop, allowing you to lock in your mortgage rate for 90 days with no upfront fee.

Locking in a rate can help streamline the homebuying process and give you some peace of mind. You’ll also be able to use the one-time float-down option if rates go down before your closing. Once you find your dream home, you can proceed with added confidence, knowing you’ll close quickly with Chase’s Closing Guarantee.

The bottom line

Your goal of homeownership is attainable. Even if you’re waiting for rates to improve, start now and give these tips a shot so you’ll be better prepared for when you do decide to buy your home. To learn about additional resources, visit Chase.com/Afford.