Buyer's Guide

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.

Step 2: Decide on Your Budget

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.

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.

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 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 my 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.

Step 5: Find the Right 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.

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. 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.

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. I 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.

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.

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.

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.

Testimonials

Freddie

Kathy is awesome, funny, and very professional. When she says she will get something done, she will strive to do so. She succeeded in selling our house very quickly. I would recommend her if you are selling or buying a property...

Jim H.

Kathy just sold our home recently during this real estate market downswing at the best price that we could get. She and her team have worked very hard for us. She is prompt, hardworking, and patient and has a good understanding...

Chris H.

As a first-time buyer, things can be scary and stressful. Kathy made sure I felt comfortable, stress-free, and well-informed. She helped to make sure I was getting the home I wanted and treated me like family. Even after my off...

Margaret F.

Kathy was a pleasure to work with during the recent listing and sale of my home. From our first meeting I was impressed with her professionalism and organization, I could tell that she had done her homework prior to our meeting...

Cynthia R.

We are so happy we went with Kathy as our REALTOR. She is caring, knowledgeable, professional, and an absolute joy to be around. She assured us and made us feel comfortable from the beginning to the end, and went above and beyo...

Lina L.

Kathy is the best. I cannot thank her enough. Our family relocated for work to Boston, I left the key to Kathy, and that's it. She helped clean up, patch up, and paint, managed to put the property on the market, and in less tha...

Nate A.

Kathy is a true real estate professional. I've known Kathy for years and have always been the one who treats her clients the best. Trust me, some REALTORS can be interesting. Kathy is always on top of the real estate market so ...

Ken R.

My wife and I had thoughts of selling our home for 16 years, we made some improvements over the years, and so we decided to call Kathy Zajac Real Estate to guide us through the process. After that first visit, we were so amazed...

Chip M.

In this very rapidly moving sellers' market, we wanted to purchase a new home. We were concerned about purchasing a new home with no sales contingency as most sellers would not accept a contingency. We met with Kathy prior to m...

Connie L.

Kathy made the whole process of selling my deceased parent's house seamless and easy. She handled everything concerning the trust instructions and went above and beyond what we expected of a REALTOR. Miss Zajac is a very capabl...

Christina M.

Kathy and her staff went above and beyond to make the sale of our house happen. We had some hiccups along the way but we always felt well taken care of and trusted that Kathy and her team would see us through. Everything was ...

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

Step 1: Research

Step 2: Decide on Your Budget

Step 3: Get Prequalified

Step 4: Choose a Real Estate Agent

My goal is to provide you with the most personalized service that is designed to help you buy your dream home

Step 5: Find the Right Home

Step 6: Make an Offer

Step 7: Have the Home Inspected

Step 8: Select Your Loan

Step 9: Get a Home Appraisal

Step 10: Finish Paperwork

Congratulations!