Home Buyers Guide - Insights for New York

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.

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.

From the Clientele

Buying an apartment is one of the most daunting, overwhelming experiences for a person. From deciphering the differences and pros and cons between condo and co-op to attempting to reimagine a preexisting space and how to make it your own. From the MOMENT I started working with Stef, the dark clouds of worry and confusion lifted. When you work with Stef you not only get the most professional, knowledgeable and seasoned expert in real estate but you get a real estate psychologist. She cares so much about her clients and no question is too big/small or silly to ask her. She responds with kindness, personalization and consideration that is unparalleled. Her patience, guidance and humor made something so overwhelming not at all that. She made buying my first home empowering and thrilling and joyful. Consider yourself lucky if you can be a client of Stef Berkin’s. She’s truly magical.

- CARRIE B.
Navigating the real estate market in New York can be a daunting task. However, with Stefani Berkin as our real estate broker, the journey became not only manageable but genuinely enjoyable. Over a two-year span, we toured over 100 apartments with Stefani, a testament to her patience and dedication to her clients. Stefani stands out not just for her extensive knowledge of the market but also for her unwavering commitment to finding the perfect match for her clients. Her professional demeanor, coupled with her warm and friendly disposition, made each viewing an informative and pleasant experience. Thanks to Stefani's expertise and guidance, we are now the proud owners of our dream home. Her understanding of our needs, combined with her keen eye for detail, ensured that we made a decision that we'll cherish for years to come. For anyone looking to embark on their own real estate journey, we highly recommend Stefani Berkin. With her by your side, you're not just getting a broker; you're getting a dedicated partner in your search.

- ASHER & MATI G.
Stefani Berkin is the consummate professional. She is the only realtor that I’ve ever used in Manhattan. My children have relied on her expertise to find a perfect home in Brooklyn. She knows the ins and outs of every street in the city as well as the surrounding areas. She’s honest and realistic and knows what the market will tolerate. Stefani has a great working relationship with other brokers and that makes the negotiations much easier for the client. When I was confused she meticulously explained every detail until I understood the entire transaction. She simplifies the process at every step. She sold my last condominium in one day and found me my present home. She is fierce in the best way and works seven days a week to get the job done. I will never use anybody else. I trust her and trust is essential when selecting a home.

- Cathy W.

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Buyers

A Step-by-Step First Time Buyer's Guide

Step 1: Research

Step 2: Decide on Your Budget

Step 3: Get Prequalified

Step 4: Choose a Real Estate Agent

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

Step 6: Make an Offer

Step 7: Have the Home Inspected

Step 8: Select Your Loan

Step 9: Get a Home Appraisal

Step 10: Finish Paperwork

Congratulations!

From the Clientele

- CARRIE B.

- ASHER & MATI G.

- Cathy W.

Search Homes

Home Valuation

Meet Stefani

Work With Stefani

Follow Stefani on Instagram

Leave a Message

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

Buyers

A Step-by-Step First Time Buyer's Guide

Step 1: Research

Step 2: Decide on Your Budget

Step 3: Get Prequalified

Step 4: Choose a Real Estate Agent

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

Step 6: Make an Offer

Step 7: Have the Home Inspected

Step 8: Select Your Loan

Step 9: Get a Home Appraisal

Step 10: Finish Paperwork

Congratulations!

From the Clientele

- CARRIE B.

- ASHER & MATI G.

- Cathy W.

Search Homes

Home Valuation

Meet Stefani

Work With Stefani

Follow Stefani on Instagram

Contact Details

Stefani Berkin

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