Are you considering purchasing a home for the very first time? Well, congratulations! Buying a home is not only a great life-achievement but a fantastic investment for your financial future.

However, the process of buying a home isn’t always easy—that’s why we recommend working with a real estate professional to help you along the way. The Sherri Patterson Team is equipped with expert agents who are here to help you navigate the market. From negotiating deals to celebrating accepted offers, our team is here for you every step of the way.

If you’re curious to know what the path to homeownership is like, take a look at our first-time home buyer guide below. We’ve broken down the process to help you anticipate the journey ahead.

1. Determine your budget.

Where’s the best place to start when buying a home? Your finances! Begin by assessing your financial situation—that includes your income, savings, and expenses. This makes it easier to determine how much you can afford to spend on a house, factoring in mortgage payments, property taxes, insurance, and maintenance costs.

2. Get pre-approved for a mortgage.

Next, consult with multiple lenders to find the best mortgage rates and terms. Pre-approval will help you understand your borrowing capacity and make you a more competitive buyer when you find a home you love. Our team works with multiple lending partners, so we’d be happy to suggest some recommendations.

3. Contact a real estate agent (psst, that’s us!).

Find an experienced and trustworthy real estate agent who specializes in the local market. We have multiple experienced agents on our team, and we would love to find an agent who would be your perfect fit. After that, we will assist you in finding suitable properties, negotiating offers, and guiding you through the buying process.

4. Identify your needs and preferences.

Make a list of your must-haves and nice-to-haves in a home. Consider factors like location, size, number of bedrooms, amenities, and proximity to schools, work, and transportation. It’s nice to know what exactly you’re looking for before house hunting, but be prepared to compromise once you start attending showings.

5. Start house hunting.

Begin the process by utilizing online search engines (we have one embedded in our website), attend open houses, and schedule viewings with your agent. Be sure to take notes and pictures to help you compare and remember the details of each property you visit.

6. Make an offer and negotiate.

Found the perfect home? Now work with your real estate agent to craft a competitive offer based on market value and comparable sales. Be prepared for negotiations with the seller to reach a mutually acceptable price.

7. Conduct thorough inspections.

Once you find a potential home, your agent will assist you with hiring a professional home inspector to assess its condition. This inspection will identify any underlying issues that could affect the value or safety of the property.

8. Secure financing.

Once your offer is accepted, it’s time to finalize your mortgage application with your chosen lender. You’ll need to provide any required documentation and stay in close communication with your lender to ensure a smooth process.

9. Perform due diligence.

Your agent will help you review all relevant documents, such as the property's title, survey, and disclosure statements. 

10. Close the deal.

Work with your agent to schedule a closing date with all involved parties. A closing involves reviewing the closing documents and ensures all necessary funds are available. On closing day, it’s time to sign the paperwork, pay the closing costs, and receive the keys to your new home.

How do you feel? Are you ready to get started?

Whether you’re excited to get started or anxious for the road ahead, the Sherri Patterson Team is here with you through it all. Remember, buying a home is a complex process, and it's essential to seek professional advice and assistance whenever needed. Reach out to our team today to get started—we look forward to working with you!