A Step-by-Step Guide to Buying a Home

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.

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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.

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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.

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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.

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Step 4: Choose a Real Estate Agent

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 a 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.

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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.

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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.

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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.

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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.

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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.

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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.

WHAT OUR CLIENTS SAY
It's been a pleasure working with Chris for our home purchase. I would highly recommend him to anyone looking to buy or sell a home.

— Michael T.

WHAT OUR CLIENTS SAY
Chris was great I would recommend him to anyone that I know who is looking to purchase a home in the Ocean County area. He gets 10 stars from us.

— Michelina D.

WHAT OUR CLIENTS SAY
I couldn’t have asked for a better experience. Chris guided us through the process with professionalism and grace. Chris made our sale effortless and got us more than we could have imagined for our house.

— Nicholas Z.

WHAT OUR CLIENTS SAY
Chris was an excellent agent to sell my home. He was always available to answer questions for me and any possible buyers. Great attitude and very easy to work with. I would definitely recommend him to other sellers.

— Deborah B.

WHAT OUR CLIENTS SAY
It was a great experience working with Chris. From beginning to end, he was there to answer questions and help us to get the transaction done. Professional, friendly, and very knowledgeable. I would highly recommend him to anyone looking to buy or sell a home.

— Kenneth K.

WHAT OUR CLIENTS SAY
I had the pleasure of working with Chris as a buyer and seller. Chris is professional, always available, and provides advice and expertise every step of the way. Without Chris, my family would have never found our dream home. If you're looking to buy or sell, Chris is best in class.

— Anthony L.

WHAT OUR CLIENTS SAY
Chris was always very on top of the listings before the offer was put in and continued to look for my best interest with the house I purchased and others I was looking at. He is constantly professional and diligent in all of my interactions with him. He was a fantastic help in helping me find my first home.

— Thomas

WHAT OUR CLIENTS SAY
I can’t say enough about my experience with Christopher Pizzola as he went above and beyond helping me through the listing of my property. His knowledge, advice, and professionalism towards me and the buyer made the whole process successful. I look forward to doing business with him in the future as well as recommending him to family and friends.

— Anthony A.

WHAT OUR CLIENTS SAY
Christopher is very good at what he does. He was recommended to us by our good friends who also had an excellent experience with him. He came in and made some recommendations which we followed. The house sold in a week and closed a month and a half later. Christopher is the person to get it done. Like all the greats, he makes it look easy. He’s the best!

— Nancy I.

WHAT OUR CLIENTS SAY
Chris Pizzola did an incredible job for us as a buyer's realtor, always remaining calm and positive throughout the transaction and being knowledgeable about the market and the value proposition of each property. He was successful in negotiating a great price for us. We were so happy with the experience that we used Chris as our selling agent two years later. Once again, Chris negotiated a great outcome f...

— Carol W. & Daniel S.

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CHRISTOPHER PIZZOLA

732.575.6523
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1 W River Rd
Rumson NJ 07760