FAQs For Home Buyers
How do I start the home-buying process?
The first step is to connect with a real estate agent who understands your needs and the local market. We’ll guide you through getting pre-approved for a mortgage, narrowing down your home search, and navigating the entire buying process.
How much can I afford to spend on a home?
Your affordability depends on factors like income, debt, and credit score. We recommend getting pre-approved by a lender to determine your budget, which helps you shop for homes within your price range confidently.
What’s the difference between pre-qualification and pre-approval?
Pre-qualification is an estimate of how much you may be able to borrow based on self-reported financial information.
Pre-approval is a more in-depth process where a lender reviews your financial details and gives you a firm loan offer, making you a stronger buyer.
How long does it take to buy a home?
The home-buying process typically takes between 30 to 60 days, depending on factors like the local market, your financing, and how long it takes to find the right property. If you're buying with a mortgage, closing usually happens within 47 days. If you're paying cash, it can take as little as 7 to 10 days.
Do I need a real estate agent to buy a home?
While it’s possible to buy a home without an agent, working with an experienced real estate professional offers many benefits. We help you navigate negotiations, handle paperwork, and ensure you’re getting the best deal. Plus, buyer agent fees are typically paid by the seller, so you get expert advice at no cost to you!
What should I look for in a home inspection?
A home inspection ensures that the property is in good condition. Key things to look for include:
Structural issues (roof, foundation)
Electrical and plumbing systems
HVAC (heating and cooling systems)
Major appliances We can recommend trusted home inspectors who will help you identify any potential concerns before closing.
How much should I offer on a home?
Your offer should be based on the home’s market value, recent sales of comparable properties, and the current competition in the market. We’ll work with you to evaluate all of these factors and craft a competitive offer that increases your chances of success.
What are closing costs, and how much are they?
Closing costs typically include fees for the mortgage, appraisal, title insurance, taxes, and legal services. These can range from 2% to 5% of the home’s purchase price. We’ll walk you through each item so there are no surprises at closing.
Should I buy a home in a seller’s market?
Yes, but be prepared for competition! A seller’s market means there are more buyers than homes for sale, so bidding wars can occur. With our expertise, we can help you navigate these challenges and make a strong offer that stands out.
What’s the difference between a fixed-rate and adjustable-rate mortgage?
Fixed-rate mortgage: Your interest rate stays the same for the life of the loan, providing stable and predictable payments.
Adjustable-rate mortgage (ARM): The interest rate may change after an initial fixed period, which could result in lower payments at first but higher costs later on.
What’s included in a mortgage payment?
A typical mortgage payment includes:
Principal: The amount borrowed to buy the home
Interest: The cost of borrowing money
Taxes: Property taxes paid to local government
Insurance: Homeowner’s insurance, and possibly mortgage insurance if your down payment is less than 20%
How much do I need for a down payment?
Down payments vary based on the type of loan:
Conventional loans: Typically require 5-20% down.
FHA loans: Can require as little as 3.5%.
VA loans: Available to eligible veterans with no down payment.
We’ll help you explore the best loan options based on your financial situation.
What are the benefits of buying a home in Lansdale or Doylestown?
Both Lansdale and Doylestown are highly desirable due to their family-friendly communities, excellent school districts, and convenient access to Philadelphia. Whether you're looking for historic homes, modern suburban developments, or vibrant downtown living, we can help you find a home that matches your lifestyle.
Can I find off-market properties?
Yes! We work with a network of investors and have access to off-market listings that aren’t publicly available. This gives you an edge in finding unique properties before they hit the open market.
What happens after my offer is accepted?
Once your offer is accepted, we’ll guide you through the following steps:
Conducting a home inspection
Finalizing your mortgage
Completing the appraisal and title work
Preparing for closing day We’ll be by your side every step of the way to ensure a smooth process.
Next Steps for Home Buyers
Ready to buy your dream home? We’re here to guide you through every step of the process, from finding the right home to closing the deal. Contact us today to start your home search or schedule a consultation.