A Step-by-Step Guide for First-Time Buyers
Buying your first home is an exciting milestone — and at McNeill Premier Properties, we’re here to make it a smooth and enjoyable experience. With expert guidance from Eric, you’ll know exactly what to expect at every stage of the process. This step-by-step guide is designed to ease your stress, keep you informed, and help you fully enjoy the journey to homeownership.
Step 1: Research
Before diving into the buying process, take time to explore your options. Think about where you want to live — do you see yourself in a condo, townhome, or single-family home? Which features fit your lifestyle, and which don’t?
Start browsing listings that catch your eye and pay attention to price trends in your preferred neighborhoods. These insights will help you understand the market better and prepare you to make a smart, confident offer when the right home comes along.
Step 2: Set Your Budget
Before speaking with a lender, decide how much you’re truly comfortable spending. A mortgage company might pre-approve you for more than what fits your lifestyle, so it’s important to create a realistic monthly budget that feels right for you.
Consider all household expenses — not just the mortgage payment. New costs like utilities, water, trash, HOA fees, and maintenance can add up quickly. By setting a clear budget early, you’ll have confidence knowing your dream home also fits comfortably within your financial goals.
Step 3: Get Prequalified
Even if you have an idea of what you can afford, it’s important to confirm that with a trusted mortgage professional. Lenders evaluate your income, credit history, and financial background to determine how much you actually qualify for.
Getting prequalified helps you understand your true purchasing power and prevents disappointment later. It also strengthens your position when making an offer — many sellers prefer to work with buyers who are already prequalified, as it shows you’re serious and financially ready to move forward.
Step 4: Choose the Right Real Estate Agent
While it’s possible to buy a home on your own, having an experienced real estate professional by your side makes the entire process easier, faster, and far less stressful — and it costs you nothing as a buyer.
With Eric and McNeill Premier Properties, you gain a trusted partner who knows the market inside and out. From identifying the best properties to arranging showings and managing negotiations, Eric is here to guide you every step of the way. Let’s explore homes that match your vision and find the one that truly feels like home.
My Goal is to Provide You With the Most Personalized Service That Is Designed to Help You Buy Your Dream Home
Step 5: Find the Right Home
This should be one of the most enjoyable parts of the process (right up there with moving in!). I’ll set up showings for homes that match your wants and your budget. While touring, take notes on what you like and don’t—test light switches, open doors and windows, and run faucets to check water pressure and drainage.
Look beyond the house: walk the neighborhood, observe traffic at different times, check parking options, and note proximity to schools, grocery stores, and other essentials. Those details make a big difference in day-to-day living and help you choose the right home for the long term.
Step 6: Make an Offer
Once you’ve found the home that feels right, it’s time to make your move. Eric will help you craft a strong, fair offer based on comparable market values and current market conditions.
Whether it’s a buyer’s or seller’s market, your offer may come in below, at, or above the asking price — and Eric will guide you through each scenario with expert negotiation skills. If a counteroffer comes in, he’ll help you reach a deal that aligns with your goals. Once both parties agree, your new home will officially move into escrow.
Step 7: Have the Home Inspected
After your offer is accepted, it’s time to schedule a home inspection — an important step to ensure there are no hidden issues or major repairs needed. Eric will help coordinate the inspection within a few days of your offer.
If the inspection reveals only minor concerns, you can move forward with confidence. But if significant problems arise, Eric will guide you through your options — whether that means renegotiating the offer or deciding to walk away. This step ensures you make a fully informed decision before moving ahead.
Step 8: Select Your Loan
At this stage, it’s time to return to your mortgage lender and choose the loan that best fits your needs. You’ll have a variety of options, including fixed-rate or adjustable-rate mortgages, 15- or 30-year terms, and special programs such as VA or FHA loans.
Work closely with your lender to select the option that feels most comfortable and aligns with your financial goals, ensuring a smooth path to closing on your new home.
Step 9: Get a Home Appraisal
Your lender will order a home appraisal to determine the independent value of the property. This step ensures that everyone involved — you, the seller, and the lender — is paying or receiving a fair price for the home. An accurate appraisal helps protect your investment and keeps the buying process on track.
Step 10: Complete the Paperwork
While paperwork isn’t the most exciting part of buying a home, it’s an essential step to make everything official. Your lender and title company will guide you through the necessary documents, ensuring everything is in order. Once completed, you’ll officially be the legal owner of your new home — ready to start the next chapter of your life!
Congratulations!
After signing the final paperwork, you are officially the owner of your new home! It may take a few days for your loan to be funded, but once the funds are delivered to the seller, you’ll be ready to move into the home of your dreams. This is the exciting moment you’ve been working toward, and I’m thrilled to have guided you every step of the way.
WORK WITH ERIC
Whether you’re buying, selling, or investing, I’m here to put my years of real estate expertise and dedication to client success to work for you. At McNeill Premier Properties, my goal is to make your real estate journey seamless, rewarding, and stress-free.
Let’s connect today and turn your property goals into reality with a trusted Boston real estate professional.