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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 our team 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 we 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 agents like us to take much of the stress off your shoulders? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but we also have knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where our expertise and wealth of knowledge come into play. Let us show you around some homes that meet your dream home criteria so you can find the one that's right for you.

Our goal is to provide you with the most personalized service that is designed to help you buy your dream home

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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!). We 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. We 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. We 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. 

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Sam M.

Sam M.

Julie and Boutique Realty have not just supported me through some of the most significant moves of my life but were also integral in supporting my family’s relocation from Los Angeles to St. Louis! They are knowledgeable, profe...
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Ashley G.

Ashley G.

Five stars aren’t enough to express how amazing this team is. Julie and team help to create an amazing vision for selling your home, while also helping you to find your next dream home. Their attention to detail and knowledge o...
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VanAllen Family

VanAllen Family

Julie with Boutique Realty was such an amazing realtor to work with! She has so much knowledge on today’s market. Julie shows an immense amount of dedication and commitment to her listings and clients. She goes above and beyond...
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Lisa S.

Lisa S.

Trusting and picking the right Real Estate company is not easy. Trusting you will be placed with the right agent can be scary. Boutique Realty, hands down, far surpassed any expectations we were hoping to receive from a Real Es...
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Mercurio Family

Mercurio Family

My experience with Boutique Realty was nothing short of spectacular. From the moment we started working with Julie, we felt comfortable and well informed. She made the selling process easy and seamless. I will be recommending B...
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Christy C.

Christy C.

The best in St. Louis! Always knowledgeable and a great experience!
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Lisa R.

Lisa R.

Would refer anyone and everyone I know to them! Listed our house, and had a contract within two days! They know the business, and they know how to get it done! Professional, knowledgeable, and very personable! Thank you Nikki R...
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Eisel Family

Eisel Family

Lindsay was amazing to work with. We had worked with other agents in the past but she is our forever Realtor. She made our home purchase and sale of our house super seamless!
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Scott M.

Scott M.

I work with multiple agents in this real estate office. All of them are knowledgeable and professional, with a lot of experience in the industry. Highly recommend!
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Maggie S.

Maggie S.

Boutique Realty is professional, honest and top notch when it comes to hiring the best Agents in town. I would strongly recommend them!
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Scott F.

Scott F.

Outstanding service with knowledge of both the home market and the finance options. If there was an option for six stars, I would give Boutique Realty.
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Kelly K.

Kelly K.

Boutique Realty provides the best customer service and made our real estate transaction easy and comfortable. Our agent was always there for us every step of the way.
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Brandon S.

Brandon S.

Julie was truly awesome to work with. She made the potentially stressful and drama-filled process of buying a home fun and simple. Pretty sure she just handled all of the stresses behind the scenes and made it seem like everyth...
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Lance & Merilee H.

Lance & Merilee H.

Loved working with these ladies! Julie always armed us with the information we needed to make good decisions. We sold two properties under her guidance and are happily in our new home! Thanks so much Julie, we love our new hous...
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Lisa T.

Lisa T.

Julie Pfeifer was great as our buying and selling agent, can't wait to use her again for our next home!
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Cherilyn G.

Cherilyn G.

The most talented team of realtors! Love their determination to help you get the home of your dreams. Beautiful inside and out and such a joy to work with!
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Melissa W.

Melissa W.

Professional and amazing group of ladies!
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Laetitia G.

Laetitia G.

I feel so fortunate to have had Nikki as my realtor! I have been looking for a home for my kids and I and Nikki was the most officient and patient person I could’ve ever wish for! She was extremely dedicated to finding me the p...
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Vicky H.

Vicky H.

Nikki helped us buy our first house in 2014 and she helped us sell our first house in 2019. Nikki made both the buying and selling process a breeze! She was always available for any questions we had and she was always accommoda...
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Devynne B.

Devynne B.

Nikki is a wonderful realtor! She helped us find our first home in Brentwood and it's perfect for our little family!
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Your Key to A Refined Lifestyle

Whether you’re a seller, purchaser, developer or landlord throughout the St. Louis & St. Charles region, Boutique Realty’s team of educated, experienced, fun and friendly licensed associates look forward to assisting you in finding your dream home, selling your current home, or determining your investment goals.

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