How to Find Your Dream Home

Are you ready to begin searching for your dream home? Whether you’re a first-time homebuyer or moving from your existing home to something that better fits your needs today, these four steps will help you kick off and simplify your home buying process.



1. Set a realistic and meaningful budget

Before you begin your house hunt, you should establish a realistic budget. It can be hard to guess how far your money will go, especially due to recent inflation and rising mortgage rates. You need to account for the closing costs of the property, taxes and other costs associated with a new home.

 

A mortgage lender can help you realistically assess your budget during the pre-approval process. A mortgage pre-approval, which is in effect for two or three months, states that you are qualified to borrow a certain amount from the bank under specific terms. 

Smiling couple sitting in a drawn room

When you’re pre-approved for a mortgage, you’ll have a clearer picture of what you can afford to spend on a home. Then, you can limit your search to homes in your budget. It will also make you a better candidate after you’ve made an offer on a home, if you find yourself in a multiple-offer situation.


In order to get pre-approved, you’ll need to bring information about your income and assets to a lender. They will also check your credit score, and ask about how much you have saved for a down payment. Then, they’ll let you know the loan you can expect. A pre-approval is not binding, so feel free to talk to a few different mortgage lenders and compare terms.



The pre-approval process may seem like a lot of stressful paperwork when all you want to do is get out and see some houses, but it will set you up for success in your home search.

Don't forget!

If you’re moving from an apartment to a house your utility bills will likely increase, since you’ll be heating, cooling and lighting a larger space. If you have been renting, these costs, as well as your water bill, may have been included in your monthly rent. Be sure to include estimates of utility costs into your calculations when you determine how much you can spend on your new home. You’ll also want to factor in moving costs, needed renovations or repairs, set-up fees for Internet and TV service and costs associated with taking care of the exterior of the property.

2. Figure out your must-haves and deal-breakers


When you first start thinking about the home you want, it’s easy to dream big. When you begin listing all the things you’re looking for, your home may require a spacious guest bedroom, a finished basement, a kitchen with the latest features and a massive landscaped yard. And if you’re house hunting as part of a family, everyone may have their own priorities.


But try taking a step back — which elements are most important to you, and which are things you want to have but could live without? Maybe you can redo the kitchen once you move in, or you’d trade that yard for proximity to a beautiful public park.


Now, make sure you know what aspects of a home are absolute dealbreakers. If you’ve lived next to a noisy highway for years and already know you won’t do it again, don’t even bother putting homes that fit that description on your tour list.



To ensure you have a reasonable set of must-haves and deal-breakers, take everything you’ve listed from your dream home brainstorm and rank them in order of importance. Then, you’ll know your priorities when you begin touring homes and can find the house that fits your needs.

3. Consider your neighborhood options


Before you start looking at individual homes, take some time to get to know the neighborhoods you’re considering. If your circumstances allow, take a day trip to each area you’re most interested in. Don’t just stay in your car — get out and take a walk around. Figure out where you’d likely go for groceries, shopping or a meal out, and get a sense of what the trip is like. If you are moving with kids or intend to have them in your new home, do some research on the schools and on nearby places they can go for sports, arts or other after-school activities.


You don’t want to limit your options too tightly at this stage, but getting a sense of different neighborhoods you may consider may help you hone your priorities. Look back at your list of must-haves and deal-breakers to determine whether a neighborhood is the right fit for you and your family. Knowing what you like about one area or another will help your REALTOR® recommend additional places to broaden your search if needed.

4. Work with a Mainstreet REALTOR®


As you start your house hunt process, you’ll soon realize it’s a lot to manage on your own, especially if you’re moving to a new area. A Mainstreet REALTOR® can help you gain access to any of the homes for sale that match your needs, provide guidance throughout the buying process and serve as your advocate in negotiations. Whether you want to buy a new home, buy a vacation home, or find a luxury house for sale, you'll want a Mainstreet REALTOR® by your side.


When looking for a real estate professional to help you find your dream home, be sure you choose a Mainstreet REALTOR®. Anyone with a real estate license can be a real estate agent, but Mainstreet REALTORS® are held to higher standards. They follow a strict Code of Ethics set by the National Association of REALTORS®. This code protects homebuyers and sellers by guiding how REALTORS® represent their clients in every step of the process, ensuring all parties are treated fairly and with respect.


In addition to meeting this higher standard, your Mainstreet REALTOR® can contribute:


Local Expertise

Mainstreet REALTORS® work locally, and bring firsthand knowledge of the market to your home search. Sure, anyone can research home listings online, but a local Mainstreet REALTOR® will bring years of experience in a given neighborhood to help you find homes that fit your criteria. They can advise you on the best time to start looking based on the local market, and what to consider when you make an offer.


Data

Mainstreet REALTORS® have access to the Multiple Listing Service, which provides the most accurate and up-to-date information on homes in your area. With it, your Mainstreet REALTOR® can find you homes that fit your needs and help you negotiate throughout the buying process.


Specialized Training

Depending on your needs, you may want to work with a Mainstreet REALTOR® with a certain specialty. Through Associations like Mainstreet REALTORS®, REALTORS® have access to continuing education opportunities in real estate. Many become certified in specialties like military relocation or working with homes with environmentally-friendly features. When you work with a Mainstreet REALTOR® with the relevant certification, you know they have experience finding exactly the type of home you're looking for.


Whatever your needs, your Mainstreet REALTOR® will guide you through how to buy a house that's right for you.


Ready to start your home search? Hire a Mainstreet REALTOR® today and take the first step toward finding your dream home.

Mainstreet 2026 Economic Forecast: Not Too Hot, Not Too Cold

By Amy Robey • February 5, 2026
“Not too hot, not too cold, just right,” is how Thomas Walstrum, an economist at the Federal Reserve Bank of Chicago, described the S&P Global GDP forecast. Walstrum spoke at a local event hosted by Mainstreet REALTORS® on January 14. He shared that, despite headlines, the economy in 2025 was actually boring — in a good way — and that he expects 2026 to be a decent year for the economy. According to forecasts presented at the event, real GDP growth is expected to be about 2.2%, close to what economists consider normal long-term growth. “The economy is kind of settled in very close to its long-run growth rates,” Walstrum noted. This is good for Chicagoland, which he pointed out has a tightly linked economy with the overall U.S. In other words, when the U.S. economy is healthy so is the Chicago economy. Walstrum shared that analysts see the Fed lowering interest rates in 2026 to a point where they are neither stimulating nor slowing the economy, meaning rates are expected to level out rather than rise sharply. At the same time, the U.S. has a faster growth pace than the Chicago metro area, which includes the city and surrounding suburbs. Walstrum suspects there are two main reasons for this: “The two big ones are our industry mix and our climate.” The weather, particularly during the pandemic, pulled people south and west, a trend some local REALTORS® are now seeing reverse. “More people are moving back to Chicagoland after long periods of time away. This seems to be driven largely by high homeowners insurance costs in other states,” said Jason Hinsley, Designated Managing Broker, RE/MAX Metropolitan. When it comes to employment growth over the next four qu arters, Chicagoland is expected to continue growing, though at a slower, more sustainable pace. “I’ve been talking about Chicago being slow growth but Chicago is actually a very strong economy in terms of both size and earnings,” Walstrum noted. “Unemployment has been coming up but not in a recessionary way. It’s just slightly cool, and still a very healthy labor market,” he added. Against the broader economic backdrop, local REALTORS® also shared their reflections on 2025 and predictions for 2026. “As I reflect on 2025, what stood out was that the market was still fast-paced and sellers continued to have the advantage, even though buyers were more cautious than in past years,” said Michelle Mauntel-MacDonald, REALTOR®, Keller Williams Premiere Properties. “If rates happen to dip, I believe the market may pick up quickly and prices will rise again. I also understand that the decisions the government makes affect the market. It will be interesting to see what the next year brings,” noted Stacy Beeson, REALTOR®, Coldwell Banker Real Estate Group, Shorewood. Income per capita in both the U.S. and the Chicago metro area is expected to grow by 3.2%. “Chicago is a very productive place, with lots of people earning lots of money. And S&P doesn’t see that advantage for Chicago going away,” Walstrum said. Before the housing bubble, the Chicago metro area’s home prices were above median home prices in the U.S. “And then it started to lag… home prices in other big cities in the country have grown a lot faster than Chicago’s home prices over the last 15 years. And what that means, according to this data, is that Chicago is actually now one of the most affordable large cities in the country,” Walstrum explained. This relative affordability gives buyers more room to be selective and helps sellers attract serious, qualified buyers. “One of the big advantages, at least from an economist’s perspective, of being a slower-growth place is that slower-growth places tend to have slower growth in the cost of living,” he concluded. When viewed alongside housing data, Chicagoland stands out as a compelling place to purchase a home and live. Taken together, the economic outlook and local market insights point to a year defined more by stability than surprises. With the broader economy growing at a steady pace, interest rates expected to level out rather than spike and Chicagoland maintaining its relative affordability compared to other major metro areas, buyers and sellers alike have room to make thoughtful, informed decisions. While the market remains competitive, especially for well-priced homes, today’s conditions offer more balance than in recent years, giving buyers time to be selective and sellers confidence that serious demand is still there as 2026 approaches.

Keep the Presents Safe: Holiday Scam Prevention Strategies

By Wesley Rusick • November 24, 2025
Imagine a holiday season with zero presents because someone emptied your bank account in the blink of an eye. Which means you can also say goodbye to that mortgage payment.
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