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

Shain D.

Jimmy has helped my find a number of investment properties and has always been very helpful and pleasant to work with. He has put together valuable information packages on different properties that have made things a lot easier...

Doug B.

Jimmy is a real estate pro that cares for his clients, knows the market, understands property values, works 24/7, and ultimately finds a way to connect buyers to great properties and sellers to great buyers. He is so dedicated ...

Travis

I highly recommend Jimmy. Always on top of things and exceptional level of communication! Jimmy posted amazing pictures and had the property sold within 5 days. If Jimmy was ever unavailable, he would let me know in advance. Hi...

Edrea F.

Jimmy did a fantastic job helping me with my new home purchase. He was always quick to answer any questions, and any concerns I had were addressed almost immediately. He offered knowledgeable, non-biased advice, and he was a pl...

Bob M.

immy was great to work with. His knowledge and his professional work ethics and his great personality makes it very easy to work with him. He found the perfect home and we will not hesitate working again with him in the future

Eli K.

Great to deal with. Very knowledgeable. Highly recommend!

Shannon S.

We have worked with Jimmy for two home purchases now and have not been disappointed. He is very reliable, timely and knowledgeable. If he doesn’t know an answer off the top of his head, he gets that answer for you ASAP. He is b...

Anthony M.

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Jesse S.

Jimmy Koury provided an efficient and satisfying experience during the process of selling/buying a home in the Greater Harrisburg Area. Having sold my home in downtown Harrisburg within a few weeks of listing my residence, Jimm...

Adrianna K.

Jimmy recently sold my home, and I couldn’t have asked for a better selling experience! Jimmy is genuinely a nice person and easy to work with. His extensive knowledge was very reassuring at such an important time of my life. J...

Matt B

Jimmy has been nothing short of amazing when it comes to helping us with real estate. We have bought 2 homes (1 existing and 1 new build) and sold 2 homes with him by our side each time. His experience, knowledge, and professio...

Seller

Jimmy went above and beyond when it came to selling our home and purchasing our new home. He got back to us with an answer in a very timely manner to all of our questions. He also reassured us time and time again that we could ...

Jake Z.

Jimmy was incredible to work with throughout the process of purchasing my first home. The market conditions were less than ideal (putting it lightly) and Jimmy was on top of every single listing that I wanted to look at. He was...

Buyer & Seller

Extremely accessible. Top-notch response times. I’m very particular about service industry providers and Jimmy was extremely helpful. We had a few issues in our sale that he spearheaded. We also had TONS of questions and issues...

Amber C.

From the first phone call discussing listing our home til we walked out of the settlement, I always felt he was in our corner and had our best interest at heart. He was extremely responsive no matter the time of day. Overall, v...

Buyer

We have worked with Jimmy for two home purchases now and have not been disappointed. He is very reliable, timely, and knowledgeable. If he doesn’t know an answer off the top of his head, he gets that answer for you ASAP. He is ...

Seller

Always available. Always be honest and put my interests first. What else can you ask for? Jimmy also had a good photographer who helped put detailed pictures online for potential buyers.

Rahul S.

Jimmy helped me with my first home. I appreciated his consistent and honest communication! Would recommend him to anyone looking to buy/sell a property.

Work With Jimmy

Uniquely qualified to handle all of your residential and commercial needs, I look forward to assisting you in any way that I can. Whether you are downsizing, upsizing, or buying something for the first time, feel free to give me a call and I'll be happy to help.

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