Buying Your First Home in Westchester

Rolling hills of verdant green, glittering lakes, and quaint villages bordered by charming stone walls – Westchester is iconic for historic elegance and pastoral beauty. Sporting some of the Hudson Valley’s most picturesque hamlets, Westchester offers the serenity of country life while still providing the luxe features of the most cosmopolitan city. Westchester real estate is enviable, and those seeking to enter the market have the pleasure of touring properties unparalleled in grandeur and rich in historical significance. If you are searching for your first home in Westchester, these tips can help make the process seamless and successful. 

Whether you plan to finance your new home with a mortgage or hand over cash for the full amount at closing, organizing your financial portfolio at the beginning of your home search is a smart move. An organized financial plan elevates you from a prospective buyer to a serious real estate contender by lending you credibility with sellers. Before scheduling home tours or devoting hours to online searches, get pre-approval from a reputable lender. The pre-approval guides you in terms of how much house you can buy and acts as a commitment from the lender, so the seller knows you have the funds to purchase.

For those paying in full, your financial advisor or money manager can confirm how much you can comfortably spend. Whichever route you take to purchase your new home, you will want to consider the extra fees associated with buying, like property taxes, homeowners fees, insurance, and maintenance. 

As a first-time homebuyer, you are in for an adventure. The excitement of scrolling through online listings. The thrill of anticipation when your phone rings with a new text from your agent. And that wild card factor of seeing a home you hadn’t considered before, the one with the walk-in closet and custom wine cellar and sauna and – ah, only two bedrooms when you need four. Well, you can make it work, right? Not according to your must-have list – which is exactly why you need one.

In real estate, you will see a lot of shiny things – fancy amenities, glossy accouterments, and opulent details that make your heart sing. And this is why it is essential to create a must-have list before stepping foot inside a prospective new home. Decide what you and your family need first. How many bedrooms and bathrooms? Do you entertain every weekend and need a spacious kitchen? Is outdoor space a critical factor? Do you need a three-car garage or a home within walking distance of your child’s school? Make your list of non-negotiables that each home you view must contain. Once you have a selection of homes that check all the must-have boxes, you are free to visit the second list you’ll make – the wish list.

The wish list comprises everything you would love to have but can easily live without. Whether you are a first-time homebuyer or a seasoned real estate aficionado, you likely will not find absolutely everything from both lists in one home. Compromise is the name of the real estate game, but once you are crystal clear on what you really need as opposed to what you want, your agent will be able to help you get as close as possible to your perfect property.   

The most important step in navigating any property market is to find a reputable real estate agent like those at Blanchet Poellot Team. The benefits of working with an agent are countless. From deciphering complex contracts and offering extensive buyer’s guides to strategizing offers and providing unparalleled expertise, a good agent can make the buying process seamless and enjoyable. Your agent can foster a lucrative deal by compiling a comparative market analysis report of homes in your search area to ensure you don’t overpay. They will also act as advisors, educators, sharp negotiators, and professional partners as you navigate the market together.   

Experienced real estate agents have toured countless homes and read endless home inspection reports. They can probably tell you almost as much as a home inspector about the state of the home’s inner workings, but a good agent will always advise clients to schedule a home inspection with a professional. Home inspectors will investigate every inch of the property, including the electrical system, roof, and foundation, as well as examine the place for water damage and mold. These inspections are essential for peace of mind, especially for those new to real estate. When you make your offer, you can state that the bid is contingent upon inspection, meaning if the inspection reveals something unexpected, you can revoke the offer and walk away sans responsibility.

Sellers may schedule a pre-inspection before listing the property, which gives them time to address any issues, such as replacing outdated water heaters or smoothing out cracked walkways. This is another area in which your agent is an incredible resource – they can advise if you should schedule your own or perhaps obtain a copy of the seller’s inspection. Either way, knowing your potential new home has a clean bill of health will allow you to buy with confidence.    

As a first-time homebuyer, chances are this first property will not be your forever home. You may see this purchase as your way into the real estate market, with plans to upsize when the time is right or change locations with a career path. When your first home is a stepping stone to more real estate moves later on, this step is essential – and your agent will be as helpful here as in every other step in the buying process.

As you tour your list of prospective properties, switch your perspective to that of a seller. Imagine you own this house and plan to put it on the market – which may be exactly what you do in five years. What are the property’s strongest selling points? Which characteristics may prove challenging in a resale situation? What is the potential return on investment for this property type and neighborhood? Considering the desirability of Westchester homes, the likelihood of recouping your investment is high. Westchester homes for sale have historically held their value, and the county is one of the nation’s most coveted places to live.