The First-Time Home Buyer Journey
Are you buying a home, condo or townhome for the first time? We are here to help as you start on this exciting journey!
- Pre-Approval: This is not as daunting as it may seem! And no, you don't need a 20 percent down payment either (a common misperception). You can be pre-approved right over the phone or online by a good local lender. If you have good credit you'll be pre-approved in as little as a few hours. A pre-approval helps you 'know your numbers' for both the price range you want to stay in, and where that puts your monthly payments. It also shows the seller of the home you want to buy that you are qualified to buy it. This is an essential first step.
- First time buyer programs: Do you qualify for any first time buyer programs, or down payment assistance? We can discuss programs that are offered and refer you to lenders who work with them.
- What are your must haves? This could be everything from which Northwest Suburban towns that you'll consider to the number of bedrooms and bathrooms in the home to features like a basement and garage
- What would be nice to have? Consider other features that you'd really like to have if you can get them, but are not completely necessary. There is often some compromise on features and price when looking for a place to live.
- Finding the right home is a journey: Be open to changes in what you need or want as you look at various homes and areas. Many times something you thought you had to have becomes something that you can live without when you find the right home. Be open to seeing various options in your price range an you may be surprised at what you find!
- You'll know it when you see it: This always sounds too simple, but in most cases it is actually true. Despite everything running through your mind, when you walk into the 'right' house you'll know it.
- We are here to help: We know that finding a home is a journey. We realize you might start looking in one town or area and end up in an entirely different one. That's fine! You'll be able to contact us via phone/email/text whenever you have a question or concern.
- Keep it all straight: We will provide you with online and offline tools to help keep your search organized. Once you've found the right home we'll be with you through closing and beyond too.
- Once you've found 'the one': We will prepare your offer and discuss all of the terms with you. If the seller accepts your offer, we will provide an outline of the next steps and be there to guide you through them.
- Deposit Earnest Money
- Home Inspection
- Attorney Review
- Appraisal
- Mortgage Approval
- Final Walk Through
- Closing
It seems like a lot. And it can be! It is a process and we will break it down to make it as smooth as it can be. We are happy to meet with you and go over this process in person as well.
