Steps to Buying Your First Home in Today’s Market

1. Gather a Down Payment

Deposits can vary depending on your loan, but are typically between 3% and 20% of the purchase price. In this competitive market it is suggested to put down as much as you can within your comfort range. 

2. Know your credit score and get pre-approved

This is such an important step in purchasing a home. Without knowing what you are pre-approved for, you run the risk of falling in love with a home out of your price range or even unknowingly restricting yourself from finding your dream home! Feel free to shop around with different lenders to make sure your getting your best approval.

3. Find the right agent for you

Purchasing a home is such a huge financial step, so it’s important to have an agent who understands what you are looking for. Upon meeting my clients, I always make sure to get all the details needed for an accurate home search. I’d love to help you find your dream home!

4. Have a Wants/ Needs list

Open concept? Move-in ready? A fixer upper? Not all homes are the same, so it important to differentiate between what you would like in a home versus what is absolutely vital. Not only does this help you figure out your non-negotiables, but it helps me find your perfect home!

5. Begin your home search

Once you get pre-approved for a mortgage, it’s time to begin shopping for your new home! Aside from the initial search, we will also scan the market daily for new listings.

6. Making an offer

Believe you found the one? It’s time to submit an offer! I’ll analyze comparable listings, and you will decide the offer price, terms, and any contingencies you would like to add to the offer.

Are you ready to start your home search?

Let’s chat!

Feel free to email me or give me a call! 

morgan.trudel@cbrealty.com | C: (908)310-1050