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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

Buying Tips

Frequently Asked Questions

If you’re planning to finance your home purchase, the very first step is getting pre-approved with a trusted lender. This not only gives you clarity on your budget, but also positions you as a serious buyer—something that’s especially important in a competitive market like ours. In fact, many sellers won’t consider an offer without a pre-approval letter on file.

A pre-approval gives you insight into your purchasing power, so you’re only viewing homes that align with your goals. It also protects you from the disappointment of falling in love with homes outside your budget. Beyond that, a great lender will help you understand how much you’ll need for your down payment, closing costs, and whether you may qualify for any financial assistance programs.

We work closely with a vetted network of trusted lenders who can guide you through the pre-approval process with clarity and care. We’re happy to connect you when you’re ready!
Yes, and it’s more common than you might think—especially for families looking to move up or relocate. If you need the equity from your current home to purchase your next one, the process can be a bit more complex, but with the right strategy and coordination, it's absolutely do-able.

At The Jaiswal Group Real Estate, we specialize in managing seamless 'buy/sell' transitions. We’ll help you understand your options, such as contingent offers or back-to-back closings, and create a customized game plan based on your timeline and financial needs. Strong communication, careful planning, and expert negotiation are key—and that’s where our experience comes in.
When you buy a home, you’re investing in your own future—not someone else’s. While renting can seem more flexible short-term, buying often results in long-term financial benefits like building equity, tax deductions, and stable monthly payments.

We’ll help you explore low down payment options, grant programs, and long-term cost savings to ensure homeownership is a smart and accessible step forward for you and your family.
Congratulations! You’re officially ready to start the home search—and we’re honored to be part of it. We’ll begin with a strategy session to dive deeper into what matters most to you: location, lifestyle, schools, commute, must-haves, and nice-to-haves.

From there, we’ll set you up with a personalized home search that includes real-time alerts, curated recommendations, and access to off-market opportunities. Our team is quick to respond and highly accessible—because in a competitive market, timing is everything.
When you’ve found the one, it’s go time—and our job is to act quickly while protecting your best interests. We’ll run a full market analysis to determine a fair and competitive offer price, then draft a strong, clean offer that reflects your goals.

We can prepare and submit your offer within hours—even on weekends or after business hours. If we’re facing multiple offers, we’ll coach you through how to make yours stand out. Our experience ensures your offer is well-positioned for success.
An earnest money deposit is a way to show a seller you’re serious about purchasing their home. Once your offer is accepted, this deposit is typically submitted within 48 hours and held in escrow until closing.

While the amount can vary, it’s often around 1% of the purchase price. A larger deposit can strengthen your offer, signaling strong intent and financial readiness. Don’t worry—this money is credited back to you at closing. If something goes wrong due to a contingency (like an inspection or loan issue), your deposit is usually refundable.
Absolutely! A home inspection is a crucial part of your due diligence—and we always recommend it. You’ll typically have 5-10 days after your offer is accepted (depending on what is negotiated in the contract) to complete all due diligence inspections, including general, termite, and others such as roof, foundation, pool and spa, solar, mold, and/or sewer line evaluations based on the property’s features.

A general home inspection can help you uncover any red flags so you can make informed decisions. The cost varies ($500–$800+), but it’s a small investment for peace of mind on one of your biggest purchases. Additional inspections vary in price depending on the type of inspection.
Most escrows close in 21–30 days, depending on negotiated terms. This timeline allows for inspections, the appraisal, final loan approval, and all necessary paperwork.

However, signing closing documents doesn't mean you get the keys right away. Ownership officially transfers once the county records the sale—which can happen anytime during the day, depending on how busy the recorder’s office is. Until it records, the property legally remains in the seller’s name.

Because we can’t predict the exact time recording will happen, we strongly recommend scheduling your movers for the day after closing to avoid any last-minute issues. This gives you breathing room and helps ensure a smoother transition into your new home.

Also, if there’s a seller rent-back agreement as part of the contract, the actual date you get your keys may be delayed based on the terms negotiated.

Don’t worry, we stay on top of all the details, manage all the moving parts to keep you informed at every step——so you’ll always know what to expect.
An appraisal is a professional evaluation of the home’s value—required by your lender to ensure they’re not lending more than the property is worth. It must be completed by a licensed, independent appraiser with no ties to the buyer, seller, or agents involved.

The appraisal is typically ordered by the lender and paid for by the buyer as part of closing costs.
With recent industry changes, it’s important to know that all agent compensation is negotiable—and we’re here to help you navigate it with clarity and confidence.

While the buyer ultimately funds the entire transaction, including commissions, our goal is to negotiate our compensation into the purchase agreement, whenever possible. This helps minimize your out-of-pocket expenses without compromising the expert representation you deserve.

We believe in transparency, strategy, and putting your financial interests first—every step of the way.
This is a common—and important—question. While it might feel natural to hire someone you know, your home purchase is one of the largest financial decisions you’ll make. You need a proven professional who can advocate for you, handle the complexities of negotiation, and protect your best interests every step of the way.

If your friend or relative happens to be that trusted expert, great! But if not, it’s okay to choose someone based on experience, availability, and market knowledge. Real friends will respect your decision to put your family’s needs first.
We recommend using platforms that connect directly with the MLS to give you the most accurate, up-to-date listings. Many popular home search websites often show outdated or sold properties, which can be frustrating.

When you work with us, we’ll set you up with a custom MLS search tailored to your criteria—and we’ll also notify you of off-market listings or upcoming opportunities you won’t find online. It’s all part of our full-service experience at The Jaiswal Group Real Estate.
Yes, 100%. Builders have their own sales teams who represent the builder—not you. If you walk into a model home without your Realtor, you may forfeit your right to be represented.

We’ve helped many clients purchase new construction and know what to look for—from lot selection to incentives, timelines, and contract terms. We’ll walk with you every step of the way and ensure your best interests are protected. Always contact us before visiting a new home community.
It’s tempting to think you’ll save money with a discount broker—but when it comes to real estate, you often get what you pay for. This is a major financial transaction, and cutting corners on experience, service, or negotiation could cost you far more in the long run.

At The Jaiswal Group Real Estate, we offer full-service representation designed to deliver results, save you stress, and protect your investment. Our clients consistently tell us the value we bring far outweighs any discount alternative.

Work With The Jaiswal Group

Join The Jaiswal Group in exploring the beauty of San Diego and let's achieve your real estate aspirations together. Contact Lynnette today to discuss your real estate goals and experience the commitment, expertise, and passion that makes her a leader in the industry.

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Contact Details

The Jaiswal Group

(858) 290-7531

[email protected]



PO Box 3102
Rancho Santa Fe CA 92067

 

Lynnette Jaiswal | CA DRE# 02100367