The Home Buyer's Guide

THE HOME BUYER'S

Guide

Everything you need to know to begin your path to homeownership

The Miale Team at Keller Williams 860-539-2255 | www.themialeteam.com

Trust the process

B

uying a home is one of the biggest

decisions, financially and emotionally, you’ll make in your life, but don't let the process of homeownership intimidate you! We have compiled this step-by-step guide to help you navigate everything from hiring an agent to closing on your new home. With the right guidance and a little planning and patience, you will find the home buying process to be less stressful than you might have anticipated. We want your transition into homeownership to be as seamless as possible. Armed with resources and the advice of real estate professionals, you’ll be well on your way to purchasing a home that’s perfect for you, your family, and your budget.

The Miale Team at Keller Williams | 860-539-2255 | www.themialeteam.com

The 6-step process 1

Hire Your Agent Do your research when choosing your agent. Ask about their experience, knowledge of the market, and their negotiation skill. The goal of an agent is to get you from the starting line to crossing the threshold of your new home with little to no hassle. Your agent should educate you about the market, analyze your wants and needs, introduce you to homes that fit your criteria, coordinate the work of other professionals, negotiate on your behalf, and solve any problems that may arise.

Secure Pre-Approved Financing Know the differences between pre-qualification and pre-approval. Pre-qualifying is just the first step and gives you an idea of how large a loan you'll likely qualify for. Pre-approval is the second step, a conditional commitment to actually grant you the mortgage. Pre-approval means you’re ready to buy, and puts you in a stronger position when making offers on a home. Once you get your pre-approval letter, you’re ready to start looking for your home!

3

Find Your Home Now comes the fun part! Define what you're looking for (needs vs wants), learn about the market, research neighborhoods, and refine your search. Make sure your agent understands your needs and wants so they can choose the right houses for you. When you and your agent look at houses together, you'll each be looking at different things. You’ll be interested in the layout of the house, the backyard, or the master bathroom amenities. Your agent will be looking at how the house compares to others in the area and any big-ticket items that will need repair. Be sure to use leverage your agent's insights.

Make an Offer and Negotiate You’ve found your home! You’re ready to make an offer and negotiate to a successful close. Your agent should provide a comparable market analysis, or CMA, of other properties that have recently sold near the home you’re making an offer. The offer must reflect the true market value of the home, terms addressing timing and financial considerations, and contingencies - the conditions that allow you to opt out, for example, after receiving the inspection report and discovering foundation issues. Everything is negotiable! This is where your agent's experience and knowledge will be a big help to you.

5

2

4

Inspection and Repairs There is no such thing as a perfect home. There will be some repairs needed, from a leaky faucet to more costly issues. You’ll find all of this out with a proper home inspection, which will help your agent negotiate the repairs needed. Don’t sweat the small stuff, focus on cracks or crumbling in the foundation, water stains, plumbing or electrical problems, and mold or termite issues.

Close and Be a Homeowner!

You're almost there! Be sure to keep yourself mortgage-worthy and budget for additional expenses, such as closing costs, earnest money, and improvements and repairs after the sale. After closing, it's time to celebrate! This is a major accomplishment and now you get to feel the pride of homeownership. Keep in mind that your agent should continue to be your resource even after the deal closes - they can offer recommendations for every kind of serviceperson you may need over the years to keep your home in tip-top shape.

The Miale Team at Keller Williams 860-539-2255 | www.themialeteam.com

6

We're Here to Help!

The path to homeownership can sometimes feel like a challenging test, with inspections, appraisal issues or new lending regulations emerging when you least expect it. It's important to expect the unexpected and be patient when it comes to closing on your new home. The key to following the path to homeownership is to avoid getting overwhelmed. Simply take one step at a time!

The overall process takes time and energy from many parties, and that’s why it’s so important to find a great agent. At The Miale Team, our primary goal is to serve your best interests.

We commit to...

Educating you about the market Analyzing your wants and needs Guiding you to homes that fit your criteria Coordinating the work of other professionals Negotiating on your behalf Solving any problems that may arise

Remember:

When you’re ready to get started on this journey,

When you’re ready to get started on this journey, we will be honored to accompany you.

—and remember your agent is here to help!

we will be honored to accompany you. Good luck

The Miale Team at Keller Williams | 860-539-2255 | www.themialeteam.com

want to learn more?

The Miale Team at Keller Williams is an award-winning real estate team of professionals serving the State of Connecticut. Whether you are looking to buy a new home, sell your home, or both, our team of listing and buyer's agents can thoroughly address your needs and guide you every step of the way.

Our mission is to empower people, the people we serve and those we serve with. We are committed to empowering our clients to achieve their goals and help fulfill their housing dreams. Our agents provide exceptional service through a variety of tools, resources, and a simple and streamlined transaction process. From start to finish, we will be there by your side through this process and help you make the best decisions for you and your loved ones.

Begin your journey

Be sure to follow The Miale Team on social media to stay up to date with all of our newest listings and resources!

The Miale Team at Keller Williams 860-539-2255 | www.themialeteam.com