Search

Leave a Message

Thank you for your message. We will be in touch with you shortly.

Explore Our Properties

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 our team will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

Default Image

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.

Default Image

Step 2: Decide on Your Budget

Notice we 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.

Default Image

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.

Default Image

Step 4: Choose Real Estate Experts

Can you shop for, look at, and ultimately make an offer on a home without real estate experts? Technically yes, but why would you when it costs you nothing for agents like us to take much of the stress off your shoulders? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but we also have knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where our expertise and wealth of knowledge come into play. Let us show you around some homes that meet your dream home criteria so you can find the one that's right for you.

Passion & Expertise

Our goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. We are dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.

Default Image

Step 5: Find the Right Home

This should be the most enjoyable step of the entire process (other than moving in!). We 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.

Default Image

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. We 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.

Default Image

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. We 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.

Default Image

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.

Default Image

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.

Default Image

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. 

Testimonials

"Selling an apartment in New York City is stressful - selling an apartment with two kids under the age of three is even more so. We cannot say enough about how wonderfully supportive and efficient Deirdre and her team were throughout the process. Shortly after connecting with Deirdre, she connected us with an incredibly talented group of people who repaired, painted, deep cleaned, staged, and photographed our apartment. Deirdre offers so much more than other agents would charge for or not at all – she and her team personally helped us pack and box for our move to our next house."
"Selling an apartment in New York City is stressful - selling an apartment with two kids under the age of three is even more so. We cannot say enough about how wonderfully supportive and efficient Deirdre and her team were throughout the process. Shortly after connecting with Deirdre, she connected us with an incredibly talented group of people who repaired, painted, deep cleaned, staged, and photographed our apartment. Deirdre offers so much more than other agents would charge for or not at all – she and her team personally helped us pack and box for our move to our next house."
Matt & Anna
"Buying or selling a home can be an exciting time for owners however it can be very stressful as well. Ken Teitel is a consummate professional with a unique ability to manage it all. Ken is always there for his clients helping them through the entire process. His wisdom from years of experience along with having the support and tools provided by a company like Compass can give clients the peace of mind of knowing they are in good hands."
"Buying or selling a home can be an exciting time for owners however it can be very stressful as well. Ken Teitel is a consummate professional with a unique ability to manage it all. Ken is always there for his clients helping them through the entire process. His wisdom from years of experience along with having the support and tools provided by a company like Compass can give clients the peace of mind of knowing they are in good hands."
J. Cotugno
"As a couple from the southeast, NYC real estate was very intimidating. Deidre and her team were able to show us a wide variety of options that we viewed in a week's time. Even better, she walked us through the Co-op application process and closing. We absolutely love our new place and could never have had this incredible place without her. She was a pleasure to spend the day with and brought knowledge and expertise to complicated task."
"As a couple from the southeast, NYC real estate was very intimidating. Deidre and her team were able to show us a wide variety of options that we viewed in a week's time. Even better, she walked us through the Co-op application process and closing. We absolutely love our new place and could never have had this incredible place without her. She was a pleasure to spend the day with and brought knowledge and expertise to complicated task."
J. & J. Tew
"Marissa was an amazing agent! She gave me great options and really understood the living space I wanted. She helped me through the whole process and made sure I didn't overpay. I will 100% use her again, and I recommend her to anyone looking to rent or buy in NYC!"
"Marissa was an amazing agent! She gave me great options and really understood the living space I wanted. She helped me through the whole process and made sure I didn't overpay. I will 100% use her again, and I recommend her to anyone looking to rent or buy in NYC!"
A. Reid
"I've been with Ken, Deirdre, Marissa, and the Team for 20+ years. From first rental, through buying and selling in downtown Manhattan. The team is extremely hardworking, and trustworthy, and provides personalized services. Highly recommend them!"
"I've been with Ken, Deirdre, Marissa, and the Team for 20+ years. From first rental, through buying and selling in downtown Manhattan. The team is extremely hardworking, and trustworthy, and provides personalized services. Highly recommend them!"
G. Spatz
"I’ve worked with Deirdre on two home purchases and one sale. She’s been very helpful in identifying quality leads that match my buying preferences so that my time isn’t spent looking at the wrong properties. She also connected me with quality lawyers and mortgage services to help drive a seamless buying experience. On the selling front, Deirdre was very hands-on throughout the entire process as well as keeping me informed every step of the way. Lastly, Deirdre’s personality makes her a fun person to go apartment hunting with!"
"I’ve worked with Deirdre on two home purchases and one sale. She’s been very helpful in identifying quality leads that match my buying preferences so that my time isn’t spent looking at the wrong properties. She also connected me with quality lawyers and mortgage services to help drive a seamless buying experience. On the selling front, Deirdre was very hands-on throughout the entire process as well as keeping me informed every step of the way. Lastly, Deirdre’s personality makes her a fun person to go apartment hunting with!"
B. Witrick
"Working with Marissa has been an absolute pleasure every time. She is incredibly professional, knowledgeable, and efficient; always taking action right away and ensuring everything moves forward as quickly and smoothly as possible. Whenever I had questions or ran into challenges, she was always there with prompt answers and creative solutions. Her expertise and dedication made the entire experience smooth and stress-free. I highly recommend Marissa to anyone looking for a top-tier real estate agent!"
"Working with Marissa has been an absolute pleasure every time. She is incredibly professional, knowledgeable, and efficient; always taking action right away and ensuring everything moves forward as quickly and smoothly as possible. Whenever I had questions or ran into challenges, she was always there with prompt answers and creative solutions. Her expertise and dedication made the entire experience smooth and stress-free. I highly recommend Marissa to anyone looking for a top-tier real estate agent!"
M. Bressi
"Ken and Marissa made selling my apartment a seamless and successful experience. Their deep market knowledge, strategic marketing, and professional approach ensured that my property attracted strong interest and sold quickly at a great price. They kept me informed every step of the way and handled negotiations with expertise. I couldn’t have asked for a better team to guide me through the process. Highly recommend them to anyone looking to sell (or buy!)"
"Ken and Marissa made selling my apartment a seamless and successful experience. Their deep market knowledge, strategic marketing, and professional approach ensured that my property attracted strong interest and sold quickly at a great price. They kept me informed every step of the way and handled negotiations with expertise. I couldn’t have asked for a better team to guide me through the process. Highly recommend them to anyone looking to sell (or buy!)"
J. Darhansoff

Explore Our Services

Seller's Guide

Seller's Guide

Offering key tips on pricing, staging, marketing, and closing to help sellers maximize their property's value and many more.

Learn More
Meet the Team

Meet the Team

The DTNYC Team consists of skilled experts, each bringing unique strengths to NYC real estate.

Learn More
Mortgage Calculator

Mortgage Calculator

Helping estimate monthly payments, interest, and loan affordability, making home financing decisions easier.

Learn More

Follow Us On Instagram