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.

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.

My goal is to provide you with the most personalized service that is designed to help you buy your dream home.

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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.

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

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T&K Construction LLC

We chose to work with Ashley based on multiple references. We found our forever home after only looking at two properties. Ashley took all of our wants and needs and found us the perfect house. We then listed our house with Ash...

Victori E.

Ashley went above and beyond throughout our entire home sale. As a military family navigating a move with a lot of moving parts, having a realtor we could trust made all the difference. We’re so grateful for her guidance and wo...

Nancy S.

Ashley was amazing to work with. This has been the third house we have purchased with her. We had quite a few hurdles to navigate, and she jumped right in without batting an eye. We can’t wait to unpack and enjoy our newest hom...

Lynn G.

Ashley made our home-selling experience better than I could have ever expected. Because of her expertise and knowledge of the real estate market, we sold our home in less than three days and closed in less than one month. I tru...

Josh

As a mortgage lender, I work with many agents, and I honestly wish they were all like Ashley. She was so professional but also so kind. Very responsive and really made a great partner for a smooth transaction. She was on the se...

Tracey J.

What sets Ashley apart from others is her unwavering commitment to her clients. She not only understood our needs but also made us feel like we were her top priority. Her genuine care and dedication to our satisfaction were evi...

Mary B.

Ashley was by my side every step of the way. She understood my needs and anticipated how to help me through my journey. She gave great advice, guidance, and a shoulder to lean on when I needed it the most. She will have your ba...

Richard G.

Ashley Nelson is the ultimate representative: professional, personable, and proactive. She anticipates the needs of her clients and stays on top of all aspects of the transaction from start to finish. Her communications are tim...

Logan S.

Ashley always answers any questions I have and is a pleasure to work with!

Kris A.

Ashley was great to work with, as usual. It is awesome to have someone that we know and trust and who has worked with us before. She knows how to get things done quickly and efficiently, and we appreciate her help so much!

Regan M.

As first-time homebuyers, we could not have gone through this process without Ashley. She was so knowledgeable and taught us many things at every showing we attended. We looked for a long time, and Ashley was always willing to ...

Robert R.

When you think about what you want or expect from a realtor, Ashley Nelson will exceed every expectation on all accounts!

Lauren S.

Ashley was amazing to work with! She is fun, personable, extremely knowledgeable, and dedicated. As first-time homebuyers, we had a lot of questions, and she was always prompt in getting us answers. She was always honest and ma...

Brenda R.

We chose Ashley Nelson to assist us with purchasing a home in the Janesville or Evansville area. Ashley is the whole package as a realtor. As a seasoned professional, she has worked in real estate for over 20 years. She lives i...

Clate & Laurie B.

Ashley is a very special person who goes above and beyond for her customers. She takes it personally to ensure your selling and purchasing transactions go flawlessly. When we closed on our house in 2017, Ashley personally helpe...

Rex W.

Ashley was always there for me. She knew my new property and area very well and always got answers to my questions quickly. If I needed a realtor again, she would be my choice.

Tammy F.

Ashley is absolutely the best realtor! She is professional, knowledgeable, responds quickly to questions, and makes the home-buying and selling experience fun. Five stars isn’t even enough to express how terrific Ashley is!

Jenny

Ashley Nelson is one of the most communicative, caring, and knowledgeable professionals I have ever worked with. Buying a home from across the country in this fast-paced real estate market can be complicated and stressful, but ...

Heather C.

Words cannot describe how thankful my husband and I are for Ashley! Not only is she great at her job, but she is also extremely friendly and thoughtful. She not only helped us find and buy our dream home, but she also helped us...

Joshua B.

Ashley, you made life a lot less stressful for my brother and me when we needed to quickly sell our mother’s home. You took all the challenges in front of us and removed them with your team of professionals. From snow removal a...

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From your first consultation to closing day, Ashley is committed to providing trusted guidance, attention to detail, and a smooth real estate experience tailored to your needs.

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