Buyer's Guide

A Step-by-Step First Time Buyer's Guide

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.

main

Step 1: Research

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.

main

Step 2: Decide on Your Budget

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.

main

Step 3: Get Prequalified

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.

main

Step 4: Choose Real Estate Experts

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

Schedule A Consultation
main

Step 5: Find the Right 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.

main

Step 6: Make an Offer

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.

main

Step 7: Have the Home Inspected

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.

main

Step 8: Select Your Loan

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.

main

Step 9: Get a Home Appraisal

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.

main

Step 10: Finish Paperwork

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.

Congratulations!

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. 

Our Testimonials

S. Sendhil

S. Sendhil

The Suits Team was quite available and accommodating to my schedule for seeing properties. Very patient and gave me honest feedback on properties rather than just trying to close a deal. Appreciated and enjoyed working with them!
Read More
D. Wilson

D. Wilson

Madalyn and her team were great to work with. We bought and sold with the Suits Team and had a great experience. We were able to get our dream house even amid tough market conditions. Definitely recommend working with them for ...
Read More
J. Hilton

J. Hilton

We had complete confidence in the Suits Team when we sold our home. They answered every question, advised us even on the smallest details, and provided accurate market information. Madalyn and her team were accessible and profe...
Read More
L. Andersen

L. Andersen

It was an absolute pleasure working with The Suits Team! When we were relocating from Florida, we were in need of a reliable agent in the North Atlanta area. We are so fortunate to have met our agent Vanessa and the rest of thi...
Read More
G. Weinstein

G. Weinstein

Madalyn and her team were terrific partners. They are a full-service team that thinks of and takes care of everything proactively, including marketing and showing the house, and dealing with all the paperwork. We followed Madal...
Read More
K. Boyer

K. Boyer

Great experience with Madalyn Suits and her entire team. We moved quickly and everything was completed and processed in a timely and professional manner. We utilized all their styling advice and suggestions and our house looked...
Read More
A.M. Edwards

A.M. Edwards

The Suits Team did an amazing job finding the perfect house in a pre-market listing for our family! Their network in the community gives a huge advantage in helping clients find the home they want. They navigated us through the...
Read More
M. Carlson

M. Carlson

We have bought and sold three homes with the Suits Team and would use them again in a heartbeat. We have also recommended them to several friends. They know the market and make the process less stressful for us. We have gotten ...
Read More
B. Hauser

B. Hauser

We worked with Madalyn and the Suits Team to sell our home in Woodstock. The whole process from our first meeting through the negotiations was very impressive. She was extremely responsive and easy to work with, and had a whole...
Read More
S. Guido

S. Guido

Madalyn and The Suits Team are amazing to work with and will "get it done" in the right way. They have their client's best interests at heart and work to get the best outcomes in each deal. When we moved back to Atlanta from Va...
Read More

Work With Us

Tailored to precision, The Suits Team is here to address all your residential real estate needs. In a market saturated with agents, how do you pick the one that fits you perfectly? Dive into our rich EXPERIENCE and PROVEN RESULTS for answers. Let's get in touch!

Follow Us on Instagram