856 478-6562
*Nancy and seller must agree on price and timing. † Based on Bright MLS 2020

Nancy Kowalik Real Estate Group is an award-winning boutique real estate brokerage specializing in all facets of Southern New Jersey’s robust residential real estate market. Founded in 2016, the firm has quickly become one of the state’s leading independent brokerages, known for its home sale guarantee. Based on a pre-determined, agreed-upon price and timeframe, founder and president Nancy Kowalik guarantees the sale of her client’s home with the promise that the firm will purchase the property if it is not sold. Kowalik’s office culture focuses on teamwork and philanthropy. With 12 full-time agents working as a team, the firm promises 5-star service. Under Kowalik’s lead the group has given over $80,000 to a local non-profit since 2017 and has been an ongoing supporter of local High School and intramural sports programs.

Buying a home can be an intimidating process if you are unsure of the steps. Fortunately, we’re here to make it easier on you. Check out these five steps to buying a home before you begin searching for your dream home.

Everything You Need to Know Before Buying Your First Home

Buying a home has always been considered a huge part of the American Dream. It is an exciting time that can be frustrating and even confusing. Taking out a mortgage loan is a long-term commitment that should be taken very seriously.

If you’re a first-time home buyer, then keep the following tips in mind.  These will ensure that you are better equipped to make informed decisions that lead to a successful transaction.


1.  Your Credit Report Matters


One of the first steps in the process of buying a home is to check your credit report. Lenders are going to analyze your credit to determine if you are financially responsible.

It’s important that you check your credit report to ensure its accuracy. You might be surprised to know that errors on credit reports are common.  These errors can mean the difference between being approved or denied for a home loan.

Dispute any information that is inaccurate. If your credit is not the greatest, or you don’t have a lot of credit, then now is the time to begin working toward building or repairing your credit.


2. Build a Savings

Because there are some out-of-pocket expenses associated with buying a home, you must add to your savings. The loan process will be much more efficient if you have cash readily available to cover upfront expenses.

Such expenses can include the loan application and credit check fees, down payment and other costs associated with the closing. Closing costs can include inspection fees, survey costs, an appraisal fee and title fees, among other costs.

The downside of not having readily available cash for these expenses is that it could delay your loan, or you could even possibly lose the deal.


3. Choose the Right Real Estate Agent

The real estate agent you choose is going to work with you throughout the entire process, from looking for a home all the way to closing. Therefore, it is imperative to choose someone with whom you’re comfortable.

Your real estate agent should have your best interests in mind and will negotiate a deal that is financially comfortable for you. This will lead you to find a home that best suits your needs.

When it’s time to make an offer on your dream home, your agent will assist you with formulating an offer that has the highest chance of being accepted by the seller.


4.  Get a Mortgage Pre-Approval

Don’t forget the importance of getting pre-approved for a mortgage loan. There is nothing more heartbreaking than finding a home that you absolutely love only to find out you can’t afford it.

A mortgage pre-approval will let you know what your price range is. If you get pre-approved, then you can begin your search the right way and look only at homes within that pre-approved range.

By doing this, you will avoid the huge disappointment that comes with looking at homes you simply cannot afford.


5.  Create Your Wish List

Once you know your price range, it’s time to create your wish list. You are probably going to have requirements when it comes to the number of bedrooms and bathrooms and this will depend largely on the size of your family.

Perhaps, square footage is important to you. You also may want a garage or a basement. Other details might include the type of flooring in the home, lot size and even the neighborhood.

This is the time when you decide what features your new home must have versus those features you would like to have, but could do without.


What to Expect During Your Home Search

While you’re actively searching for your new home, you should expect to visit many homes. You don’t want to make an offer on the first home you see. Also, don’t expect to make a deal within a week.

Buying a home takes time. Even if there are many homes on the market, it can take time to find a home that fits your style and has all the features you require. The search can be frustrating at times, but in the end, it is always worth it.

As soon as you make the decision to buy a home, the process can be instantly overwhelming. There are so many decisions to be made. Just keep in mind that you will successfully make it through the home-buying process.

It is all worth it because you will feel a sense of pride and relief. You will then be able to sit back and enjoy your new home.

Your real estate agent is the best source of information about the local community and real estate topics. Give the Nancy Kowalik Real Estate Group a call today at 856-478-6562 to learn more about local areas, discuss selling a house, or tour available homes for sale.

View All Buying Your Next Home Posts
%d bloggers like this: