First Time Home Buyers Guide

First Time Home Buyers Guide

It’s hard to put into words the amazing feeling that comes with buying a new home. From the moment you walk through the door at your first showing, to being handed the keys, it’s like a dream come true. 

The process of buying a home can seem daunting and overwhelming, especially for a first time home buyer. So, what can you expect as a first time home buyer? The process looks something like this:

  1. First off- you want to determine if you're financially ready: Before you start shopping for a home, you'll need to determine if you're financially ready for homeownership. This includes assessing your credit history, budgeting for a down payment and closing costs, and understanding the costs of homeownership. 
  2. Get Pre-Approved for a Mortgage: Getting pre-approved for a mortgage is the first step in the home buying process. Your lender will review your finances and provide you with a pre-approval letter, which will let you know how much you can borrow and what kind of loan you qualify for. Need a lender? Reach out to one of our agents today for a referral. 
  3. Find a Real Estate Professional: Working with a real estate professional is a great way to make sure you're getting the best possible deal on a home and to make sure the process goes smoothly. Need an agent? Marterra Real Estate has an office full of qualified real estate agents that would love to help you find your dream home.
  4. Choose a Home: Once you have an idea of what you can afford, you can start looking for a home. Keep in mind that there are a lot of factors to consider, including location, amenities, and potential resale value. Your real estate agent will be able to recommend certain locations and neighborhoods based on what you are looking for. Dont panic- you likely will not fall in love with the first house you step into. Try and go into the process with an open mind. And always remember, if budget allows, you can make changes before you move in or over time (big or small) to turn a house into your perfect home! 
  5. Make an Offer: Once you've found a home you like, you'll need to make an offer. Your real estate agent can help you negotiate the best possible terms for the sale. 
  6. Get Homeowner's Insurance: Homeowner's insurance helps protect you from financial loss due to theft, fire, and other hazards. Make sure to shop around for the best rates and coverage. 
  7. Close the Sale: Once the seller accepts your offer, there are still a few steps to take before you can close the sale. This includes getting a home inspection, obtaining homeowners insurance, and transferring the title of the home. Your real estate agent will help guide you through this process to make sure everyone is completing their tasks on time to ensure a smooth closing. 
  8. Move In: Congratulations! You're now a homeowner! Make sure to take the necessary steps to protect your home, such as changing the locks, setting up a home security system, and getting to know your neighbors.

Because there are so many different steps and parties involved in buying a home, finding a real estate agent that suits you and understands your home buying goals is extremely crucial. The right agent will guide you through these steps and be your biggest advocate until the deal is closed!

Kate Markert, a real estate agent with Marterra Real Estate, has had numerous first time home buyer clients throughout her years in the real estate industry. 

“I met a lovely young couple at an open house. We only interacted for about five minutes, but I stayed in touch with them, checking in periodically and waited for about a year until they were ready to make the big jump of purchasing their home as first time home buyers! They were currently renting a small apartment in a crowded and noisy complex. They had a toddler and newborn and dreamed of a big house with a big yard. They wanted to live in a very specific neighborhood in Mesa Verde in Costa Mesa, and when a particular house came on the market, I knew it was perfect for them. It checked all of their boxes right down to the huge backyard, so I made the appointment right away to see it. We made an offer immediately after viewing the property and beat out multiple offers. It all came together perfectly and they were so happy. It felt amazing as an agent to get the opportunity to help them accomplish their goals and see their dream of becoming a homeowner come true.“ - Kate Markert, Marterra Real Estate

First time home buyers, reach out!! We would love to answer any questions you have about the home buying process, and would be happy to guide you along the way. 


Let’s Talk

You’ve got questions and we can’t wait to answer them.