Buyer's Guide

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

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.

main

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.

main

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.

main

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.

main

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.

Find Your Dream Home

Search All Homes
main

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.

main

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.

main

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.

main

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.

main

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.

main

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.

Congratulations!

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. 

My Testimonials

Kathy A.

Kathy A.

Hallie was absolutely amazing throughout the sale of our home. She was constantly in communication with us and kept us informed of any inspections and meetings. She was a constant reassurance when we were feeling overwhelmed by...
Read More
Roy W.

Roy W.

I can't thank Hallie enough for her exceptional service in helping me sell my house. She went above and beyond to make the process smooth and stress-free. Hallie was incredibly proactive, always one step ahead, and her dedicati...
Read More
Colin C.

Colin C.

Hallie Anzalone is THE reason why we are now in the townhome of our dreams. Having spent much of her life in the area, her knowledge of Santa Cruz’s various neighborhoods and surrounding cities is deep. We took Hallie on a h...
Read More
Quintin S.

Quintin S.

I recently have had the opportunity to work with Hallie Anzalone as our REALTOR, and cannot speak highly enough of her as a real estate agent and person. Hallie went above and beyond any of our expectations and dedicated hersel...
Read More
Marcella N.

Marcella N.

Hallie is always well-prepared, organized, and one step ahead of the game. I loved that all my inspections were scheduled on the same day and she managed their coming and going so I didn’t have to. She knew who to call for ever...
Read More
Liz F.

Liz F.

Hallie is awesome! It was such a pleasure working with her both on the sale of our home and the purchase of our new home. She made the process stress free. She was extremely responsive to all of our questions. She provided good...
Read More
Patrick S.

Patrick S.

When we identified the right property we had limited time to place an offer in a multiple-offer situation. Hallie came through with a great plan for our offer and guided us through the process. We appreciate how Hallie kept us ...
Read More
Sharon S.

Sharon S.

Hallie was fantastic to work with. Hallie guided us through every step, helping me keep my stress level down and stay on our timeline. With her expertise and proper marketing, we had multiple offers in the first week! If you ar...
Read More
Thomas B.

Thomas B.

Hallie knows Santa Cruz backward and forwards and she demonstrates a lot of empathy with her clients something that is incredibly important when going through a stressful home sale and accompanying life transition....she really...
Read More
Patrick C.

Patrick C.

A lifelong Santa Cruz resident, Hallie knows every Santa Cruz, Scotts Valley, and mid-county neighborhood and will find the best match for any family.
Read More

Work With Hallie

Get assistance in determining current property value, crafting a competitive offer, writing and negotiating a contract, and much more. Contact me today.

Follow Me on Instagram