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 our team 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 we 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 agents like us to take much of the stress off your shoulders? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but we also have knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where our expertise and wealth of knowledge come into play. Let us show you around some homes that meet your dream home criteria so you can find the one that's right for you.
Our goal is to provide you with the most personalized service that is designed to help you buy your dream home
This should be the most enjoyable step of the entire process (other than moving in!). We 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. We 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. We 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.
The experience I had with The Germinal Group was very outstanding. Everything a first-time home buyer would need from a real estate agent, is everything I received working with them. Down to communication, letting me have a bet...
The absolute best experience with the best team. My partner and I were first time home buyers. Kate made us feel like we were pros! Kate and Julian took their time explaining every step and took their time to make each experien...
This has been a great experience! There was so much I didn't know and Julian and Kate were there to help every step of the way. They made themselves available any time of day and were always making sure I knew what was going on...
Kate and Julian are amazing and I 100% recommend them! They explain every step of the selling process and always have your best interests in mind. Kate was available 24/7 throughout the entire process, helping with everything. ...
I will recommend anyone to the germinal group, my experience with them was marvelous. They keep their word and once you start your process with them they are with you until it's over. Very Professional, kind, compassionate, you...
I had the pleasure of working with Kate when my buyers bought a beautiful home that was Kate’s listing. I appreciated that she was easy to work with and helped the negotiators go smoothly. We were easy to get to the closing tab...
I had the best experience working with Kate at The Germinal Group while buying my first home! She was so helpful and patient, answering all my questions and guiding me through every step of the process. Kate made everything fee...
I definitely recommend The Germinal Group to everyone seeking a fast and trustable way to buying a home. That group will accompany you in every single step in the buying process. They're ready to help you out in any situation u...
You won’t find a more genuine and helpful realty team any where! Julian and Kate go above and beyond any real estate agent I’ve ever heard of, simply because it’s who they are. They’re the best.
Jullian is the best real estate agent that I've ever worked with in my entire life and I've bought and sold a few houses. Highest level of integrity, hard work and resilience can be found working with Julian! This young man has...
They are the best, most inform real estate agent I ever worked with!
Julian and his team are incredible. They go above and beyond in everything they do. My experience with Julian has been 10/10.
Julian and Kate made our home buying process easy would 10/10 recommend.
Kate was a pleasure to work with in the sale of our home. She was extremely professional and knowledgeable of our community and the market. Our house went under contract in a week and closed in less than a month. She was really...
Great experience, even better results! Very professional, with lots of updates and communication. I highly recommend.
Julian Germinal is so far one the best real estate agent I’ve ever worked with hands down. The process itself wasn’t easy but he went above and beyond to help me and my family. We are very grateful for all of your hard work and...
Julian is by far the best real estate agent I have worked with. Our process was so different than we were used to but he stayed focused and went way above and beyond to make sure we were comfortable during the whole thing. Juli...
At The Germinal Group, we’re dedicated to providing a seamless, personalized service that puts your needs first. Whether you’re looking for advice or ready to make a move, we’re here to help you every step of the way.
