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 our 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. 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.
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.
When my parents asked me to help them sell the Shoreham home where my sister & I were raised and my parents have lived for 57 years I knew I needed the best Real Estate agent in the area. Every single person I asked said Gina Bettenhauser and every single person was right. Our initial one hour meeting with Gina turned into five hours as Gina walked my parents and me through the process with all the detai...
Amazing realtor gives you the info you need and tailors every outing to you. As a first time homebuyer she was assertive and listens to your needs. Made sure what was priority for me was the highlight of everytime we spoke.Makes sure homes and visits for houses you go to are worth your time and budget. Would highly recommend her to anyone and everyone.
Gina was the ultimate professional in the sale of my home for 27 years. Having never sold a home before, Gina kept the sale hassle-free and was so informative guiding me through the process. Feel confident in Gina's ability to sell your home or help you find the home of your dreams. Gina knows real estate better than anyone in Suffolk County. In fact, she recently won Coldwell Banker's International Pres...
My husband and I worked with Gina for a year and a half prior to finding our home. Throughout the entire process Gina was beyond amazing in every aspect! She truly goes above and beyond and has her clients’ best interest at hand. She’s honest, dependable, and extremely knowledgeable in this field. Any question we ever had Gina was able to answer, thoroughly. She truly fights for her clients and we wouldn...
My wife and I are so glad we chose to work with Gina for the sale of our home. She got us listed within days of hiring her and we had showings right away. She got us a bid well above our ask. She was very professional throughout the process, efficient and always had our interests in mind. Since we lived far away, Gina went the extra mile to help us get things done when we needed it. All in all - a terri...
I’d like to express my deepest appreciation for all that Gina Bettenhauser has done to facilitate the sale of my home. Gina’s level of knowledge and her real estate expertise made the process go so smoothly. The dedicated, respectful, courteous and professional manner in which she facilitated the entire process made the sale of my home a positive experience. Thank you Gina for staying strong and for the ...
Gina Bettenhauser was an absolute pleasure to work with in the sale of my home. Her years of experience, knowledge of the market along with her genuine concern for her client's best interest, made me feel at ease knowing I was in good hands. She is very quick and responsive to any questions. She was on top of any issues that came about and went above and beyond to have any problems addressed. I would 100...
We had the pleasure of working with Gina when we sold our home in Shoreham. She was very clear in explaining the process and what we should expect while selling a house. She was very knowledgeable and professional through the whole process; from first listing the house to negotiating offers, straight through closing. Her experience was always evident and made selling our home easy. I would highly recomme...
Gina was outstanding throughout the entire buying process. From the first moment I walked into my new home, Gina guided me every step of the way. She was very informative about the process and was able to hook me up with a great lender. For any request I asked for, Gina went above and beyond to make sure it happened. Anyone who is looking for a home or selling one would be lucky to have Gina as their rea...
Gina was great! She helped us purchase our first home. We were looking for several months and she showed us multiple properties, encouraging us not to settle until we found exactly what we wanted. She was very supportive through the process and really knew the area we were looking to buy in.
99 Route 25A Ste 13 Shoreham NY 11786
