Buyer's Guide

A Step-by-Step First Time Buyer's Guide

Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first time buyer’s guide created by your agent will help reduce the stress of buying a home and help you enjoy the journey as much as possible.


main image secondary image

Step 1: Research

Do you already know where you want to buy? Which features do you like and dislike? What’s available on the market now? If you answered no to any of these questions, now is the time to start researching. In addition to looking for homes that interest you, also take note of any changes in asking prices. This could give you valuable insight into housing trends in specific neighborhoods and help you when the time comes to make an offer.

main image secondary image

Step 2: Decide on Your Budget

This is not about how expensive of a house you can buy. This is about the extra payments you will need to cover: Inspection, appraisal, closing costs. Standard fees, and maintenance fees thereafter besides the mortgage payment. If you're a part of a home owners association additional costs may be involved. If you choose to live on your own away from a neighborhood or gated community, you must be aware that you alone will absorb all maintenance and upkeep costs without the assistance of a community. So your focus should be mostly on how much money you can afford every month beside the other costs of living. And then find out how much money you can apply for.

main image secondary image

Step 3: Get Prequalified

Once you have figured out your budget and your wishes and desires for a home, it is time to get prequalified. This is before the going shopping for a home starts. Because if you are not approved, you can’t go further. Which loan is best for me? Which lender is the most suitable? What is the best APR that I qualify for, and how can I reduce monthly payments. Here’s where you agent may be able to help you a bit, but remember the last decision always falls on you to make. Once you have been approved for a loan, then you know to look for houses within your approval amount, and not anything higher. This is where your hunting goes to the next level.

main image secondary image

Step 4: Choose a Real Estate Agent

Can you shop for, look at, and ultimately make an offer on a home without a real estate agent? Technically yes, but why would you when it costs you nothing for an agent like me to take much of the stress off your shoulders? Not only will I help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but I also have a knowledge of the market that you don’t possess. I may be able to steer you away from certain homes or neighborhoods, suggest hidden gems, or give you pointers that will help you find your dream home for the right price.

Our goal is to provide you with the most personalized service that is designed to help you buy your dream home.

Schedule A Consultation
main image secondary image

Step 5: Find the Right Home

This should be the most enjoyable step of the entire process (other than moving in!). I will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and keep an eye on every detail.

main image secondary image

Step 6: Make an Offer

Once you have selected the perfect home, work with your agent to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is listed at and whether the current environment is a buyer’s or seller’s market, your offer may be below, at, or even above the asking price. I will be able to help you negotiate if you receive a counteroffer and reach an agreement.

main image secondary image

Step 7: Have the Home Inspected

In most cases, your offer will be contingent on having the home inspected to ensure there is no major structural damage or large repairs needed. I can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to next step.

main image secondary image

Step 8: Finish Paperwork

No one looks forward to all the paperwork involved in buying a home, but it’s a necessary part of the process. Fortunately, everything will be arranged by your lender and title company and, when you’re finished, you’ll know you are the legal owner of your new home.

Congratulations!

After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams.