The Katie McLaughlin Team

314.283.8444
[email protected]

Office

8301 Maryland Ave Ste 100
Clayton, MO 63105

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A First Time Buyer's Guide to Buying Your Home

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, and 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.

Passion & Expertise

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

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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.

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. 

What Our Clients Say

Success Stories

My husband and I used Katie to sell our home and to say Katie exceeded expectations is an understatement! She is a wealth of knowledge and she instinctively knew every detail of what needed to be done to sell our home. We put her on a short timeframe and she not only delivered on the selling of the home, but made the process easy for us. Katie is warm, smart, and incredibly honest. We felt each step of the way that we were in capable hands and that Katie was always working with our best interest. We can’t recommend Katie enough to anyone in the St Louis area!
My husband and I used Katie to sell our home and to say Katie exceeded expectations is an understatement! She is a wealth of knowledge and she instinctively knew every detail of what needed to be done to sell our home. We put her on a short timeframe and she not only delivered on the selling of the home, but made the process easy for us. Katie is warm, smart, and incredibly honest. We felt each step of the way that we were in capable hands and that Katie was always working with our best interest. We can’t recommend Katie enough to anyone in the St Louis area!
Martha Hyland
We recently used Katie and her team for a real estate purchase. I was extremely impressed with their attention to detail, professionalism, and overall excellence. Marty, on Katie's team, was a delight to work with, and Katie's vast real estate experience was a true asset in helping with the selection process and purchase nuts and bolts. Great communication and smooth transaction process. Katie runs a top notch team, and I highly recommend her for any real estate needs you may have.
We recently used Katie and her team for a real estate purchase. I was extremely impressed with their attention to detail, professionalism, and overall excellence. Marty, on Katie's team, was a delight to work with, and Katie's vast real estate experience was a true asset in helping with the selection process and purchase nuts and bolts. Great communication and smooth transaction process. Katie runs a top notch team, and I highly recommend her for any real estate needs you may have.
Matthew Price
Katie is the BEST realtor you could ask for! She's incredibly knowledgeable, caring, and kind. She truly treats your home as if it were her own and is there to support you every step of the way. Throughout the entire selling process, Katie was proactive and guided us with confidence—from preparing our home for the market to navigating multiple offers on the very first day it was listed. We can’t thank Katie enough for helping us sell our home!
Katie is the BEST realtor you could ask for! She's incredibly knowledgeable, caring, and kind. She truly treats your home as if it were her own and is there to support you every step of the way. Throughout the entire selling process, Katie was proactive and guided us with confidence—from preparing our home for the market to navigating multiple offers on the very first day it was listed. We can’t thank Katie enough for helping us sell our home!
Kate Graft
Katie was absolutely amazing to work with. Extremely responsive and available to schedule a showing on the drop of a dime. Katie knows the market and helped us create a competitive offer we felt comfortable with and explained every step of the process in detail.
Katie was absolutely amazing to work with. Extremely responsive and available to schedule a showing on the drop of a dime. Katie knows the market and helped us create a competitive offer we felt comfortable with and explained every step of the process in detail.
Tara Ryterski
Working with Katie was an absolute pleasure. Her knowledgeable agent insights gave me confidence. Her team went above and beyond, making the selling process smooth and stress free. I highly recommend Katie and the Laura McCarthy team.
Working with Katie was an absolute pleasure. Her knowledgeable agent insights gave me confidence. Her team went above and beyond, making the selling process smooth and stress free. I highly recommend Katie and the Laura McCarthy team.
Missy Mansfield
Katie was an amazing realtor for buying and selling our recent homes. She was extremely on top of everything and very knowledgeable about what to do to ensure getting our dream home and selling our other home for a great price. Highly recommend!
Katie was an amazing realtor for buying and selling our recent homes. She was extremely on top of everything and very knowledgeable about what to do to ensure getting our dream home and selling our other home for a great price. Highly recommend!
Lauren Falley
Fantastic Real Estate Agent! One of the best in the industry!
Fantastic Real Estate Agent! One of the best in the industry!
Cory Tullock
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The Katie McLaughlin Team

314.283.8444
[email protected]

Office

8301 Maryland Ave Ste 100
Clayton, MO 63105

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Get In Touch

The Katie McLaughlin Team

314.283.8444
[email protected]

Office

8301 Maryland Ave Ste 100
Clayton, MO 63105