Buying your first home in Central Florida
Purchasing a home can be the first step toward building wealth. A home’s value increases while you pay down your mortgage, and your equity grows. Once equity accrues, you can borrow against the home to pursue other financial goals, or you can sell the home to secure a profit.
But like any major life decision, you should be fully informed about the process before buying your first home. Buying a home takes careful thought and consideration; take advantage of available resources to make the best choice for you and your future. When done prudently and intentionally, a home purchase can be one of the best long-term financial strategies you’ll make.
A Central Florida realtor you can trust
Sullivan Homes Group's
core beliefs are centered around helping clients decide what matters most to them. In service to others, Claire Sullivan and her team work diligently to ensure a stress-free home buying experience for their clients.
As one of the top 1% of realtors in Central Florida, Claire strives to continue her trajectory of success by helping buyers realize their dream of homeownership. Her tenacity and love for all things real estate has led her to become one of “Orlando’s Top 500 Agents,” and brought her recognition as one of “Orlando’s 35 Under 35.”
While accolades are a privilege to receive, Sullivan Homes Group's greatest pursuits are building relationships based on trust with every client we serve. Our goal is to help clients obtain the dream life they’ve always wanted, while also making the home-buying experience enjoyable and stress-free.
A primer on the home-buying process
Buying a home may seem intimidating at first, but it’s important not to lose sight of the exciting outcome. Your hard work and patience have led you to this important step in your life. If you’re prepared and working with a great agent, the home-buying experience will be a smooth one.
Here are some basics to remember when purchasing a home:
- Narrow your search based on price: Consult with a lender to determine how much home you can afford and the type of loan you want to secure. The lender will give you a pre-approval letter, which will help with your search.
- Begin your search: Decide what your “must-haves” are, and keep them in mind as you identify prospective homes. For example, some must-haves could include proximity to desired schools or the airport, number of bathrooms, or parking. Speak with a Sullivan Homes Group agent for guidance regarding the Central Florida market.
- Make an offer: Your agent will research the market and strategize a plan for making an offer. When your agent is experienced and has an in-depth understanding of the local market, you’ll be in good hands during the negotiation period.
- Under contract: Once both parties agree to terms, the transaction becomes “under contract.” A buyer provides “earnest money” to the title company during this period of open escrow. The buyer may also provide the seller with an “option check” for the option/inspection period.
- Option and inspection: The negotiated option period averages seven days, but it can range from five to ten days. Inspections give buyers a thorough report of the material elements of the property, including major or minor defects that may determine the purchasing decision. Negotiations will continue during the option period, based on inspection results.
- Appraisal: Once the inspections and renegotiations are complete, your lender will order a property appraisal.
Contact Sullivan Homes Group
If you are interested in exploring Central Florida real estate, contact Sullivan Homes Group
today. As one of the top 1% of real estate agents in the area, Claire Sullivan
can help find a property that’s perfect for you.