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.
Do you already know where you want to buy? If you want a condo, townhome, or single-family home? 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.
Notice I said to decide on your budget—not determine how much the mortgage company will give you. In many cases, a mortgage company will pre-approve you for more than you’re comfortable spending, which is why you need to determine the monthly payment you feel comfortable with before talking to a lender. This likely includes doing a full household budget and taking into consideration what changes other than a mortgage payment will occur once you move into your new home. If you’ve lived in an apartment or with roommates, you may overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.
Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer on a home, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan.
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. Finding the perfect home can be a daunting task, this is where my expertise and wealth of knowledge come into play. Let me show you around some homes that meet your dream home criteria so you can find the one that's right for you.
My goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. I am dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.
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 traffic at certain times of the day, the parking situation, and how close it is to necessities like schools and grocery stores.
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. At this point, the house will go into escrow.
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 step eight. If there is, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.
Now is the time to go back to the mortgage lender who pre-approved or pre-qualified you and choose your mortgage. You will be presented with various options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with your mortgage lender to select the option you feel the most comfortable with.
Your lender will have your new home appraised so they have their independent value of it. The appraisal is to ensure that all parties involved are paying a fair price for the house.
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.
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.
5 stars does not do Taylor justice! Working with Taylor lifted so much stress off of the house-buying process! When we found our new home we were so excited and eager to get an offer in an hour (which if you don't know is so qu...
Taylor was extremely professional and a joy to work with while purchasing our home. We liked her approach from day one. She was always available and responsive to our questions and needs. She also always made us feel like we we...
Taylor is a 10/10! She is the best! You won't find better than Taylor. She was on top of everything and went above and beyond throughout the whole process. I highly recommend using her. Her husband, Matt, also finances loans so...
Taylor was so awesome to work with. We had a bit of a complicated buying process and Taylor handled it like a true pro. It was very clear through Taylor’s constant communication that her client’s wants and needs are her No.1 pr...
Taylor made our first home-buying experience smooth and easy. She helped us understand the process along the way. She’s very responsive and punctual! We’ll definitely be working with her again in the future!
I was a first-time home buyer and Taylor was the perfect realtor for the job! She is well educated on the Valley's real estate and helped me make the right investment for my first home. She truly understood what I was looking f...
Taylor was a real pleasure to work with. As first-time homebuyers, we had hundreds of questions and she was always there to answer them. She was quick to respond and made the process of going to see the houses fit our busy sche...
I so enjoyed working with Taylor to find and purchase my first house. I started the process over a year ago and throughout that time Taylor was kind, responsive, and shared a wealth of information. Being a first-time homebuyer ...
Taylor was amazing throughout the whole home-buying process. I really felt like she had my back and was always looking out for my best interests when it came to negotiations. This was my first time purchasing a home and the exp...
I absolutely loved working with Taylor. She helped me find the perfect home! As a first-time home buyer, it was critical for me to have someone with enough knowledge (and patience) to guide me through the process and help me wi...
Taylor thoroughly explains the process and helps them strategize the most affordable way to get them into their dream home or sell their current property for top dollar.
