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 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!). 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.
Answers to common questions about moving from NYC, navigating the Sound Shore market, and finding your dream home in Westchester.
First, breathe! It’s a big transition, but it’s one of the best moves you can make. The most important thing to understand is that the Westchester market moves fast, and inventory is often tight. You need to get clear on your "must-haves" versus "nice-to-haves." Also, familiarize yourself with the Metro-North train lines—for example, the commute from Larchmont to Grand Central is incredibly convenient, often taking just 35 to 42 minutes.
You need an agent who is deeply entrenched in the local agent community. In competitive markets like Larchmont and Scarsdale, relationships are everything. I am constantly networking with other local agents to hear about properties before they hit the market. You also need to be fully pre-approved, financially prepared, and ready to act decisively when we find the right match.
You should speak to a lender before we ever step foot inside a house! In competitive markets like Larchmont and Scarsdale, sellers often won't even entertain an offer from a buyer who isn't already pre-approved. Furthermore, a lender might approve you for more than you are actually comfortable spending each month. Having that financial clarity upfront removes the stress and allows us to focus entirely on finding a home that fits your actual lifestyle and budget.
Yes. Because I have lived and worked in Larchmont for two decades, my local network is my greatest asset. I frequently connect buyers with homes before they ever hit the MLS. By matching my buyers' specific needs with longtime homeowners who might be quietly considering a move, we can often bypass the stress of a public bidding war.
In New York, you need a local real estate attorney to handle the contract and closing—this is different from many other states. You will also need a trusted mortgage broker or lender, and a thorough local home inspector. I have spent years building a vetted network of the best attorneys, inspectors, and contractors in Westchester, and I connect all my buyers with the right team.
Winning a multiple-offer situation isn't always about having the highest price; it's about having the strongest, cleanest terms. As your agent, my first step is to call the seller's agent and find out exactly what the seller needs—maybe they want a specific closing date, or they need to rent the house back for a few weeks while their kids finish the school year. By tailoring your offer to solve the seller's specific problems, presenting a rock-solid pre-approval, and leveraging my relationships with local agents, we can make your offer stand out from the crowd.
This is where my 20 years of living and raising my two daughters in Larchmont really comes into play! I don't just open doors; I give you a true insider's tour of the Sound Shore. We will drive through the different neighborhoods, talk about the walkability to the Metro-North, check out the local parks, and discuss the vibe of the different downtowns. My goal is to help you find not just a beautiful house, but a community where you will truly feel at home.
