Philadelphia Buyer's Guide for First-Time Homebuyers

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.

Red-brick apartment buildings with fire escapes framed by flowering spring trees.

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

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.

Living room with a fireplace, herringbone wood floors, and tall black-framed windows.

Step 4: Choose a Real Estate Agent

Buying a home is a big decision, and having the right people in your corner can make the process feel a lot more manageable. We’ll help you narrow down the search, identify properties that fit what you’re looking for, schedule and coordinate showings, and guide you through the offer process when you find the right home. We’ll also help you make sense of the market along the way, from understanding how a home is priced to evaluating comparable sales and structuring an offer that makes sense for your goals. Our job is to make the process easier, keep you informed, and be a resource from your first showing through closing. Most importantly, we’ll take the time to understand what matters to you so we can help you find a home that feels right, not simply check a few boxes on a search.

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

Schedule A Consultation

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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.

Modern brick-and-glass apartment building with balconies, landscaped grounds, and a playground.

Step 6: Make an Offer

Once you have selected the perfect home, we work together 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, you will be under contract.

Bright living room with a white sofa, wood coffee table, and tall sunlit windows.

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 are, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.

Open-plan kitchen and living area with white cabinetry, exposed brick, and a black dining table.

Step 8: Select Your Loan

By this point, you should already be working with your lender and have your mortgage process underway. Once inspections and any related negotiations are complete, it’s important to stay focused on the remaining financing requirements. Work closely with your lender to complete your mortgage application, provide any requested financial documents, and respond promptly to questions or additional requests. Your lender will continue working through the appraisal, underwriting, and final loan approval process, and we’ll stay in communication with you and the lender along the way. Staying responsive and keeping the financing process moving is one of the most important things you can do to help keep your purchase on track for closing.

Modern apartment hallway with a gray runner and city views through glass doors.

Step 9: Day of Settlement

Settlement day is the final step in your home-buying journey. You’ll meet with the appropriate parties to review and sign the documents needed to complete the purchase. Your lender, title company, and other professionals involved will coordinate the details and make sure everything is in place for settlement. Once the paperwork is signed and the transaction is completed, the home is officially yours. From there, you can get the keys, move in, and start making the house your own.

Congratulations!

You’ve made it to the finish line. Once the final documents are signed and settlement is complete, the home is officially yours. It’s time to get the keys, start moving in, and enjoy the next chapter in your new home.

Testimonials

Jackie A.

We used Katie to sell our home in South Philly and she was amazing from start to finish. We had an uncertain timeline and as soon as we found somewhere to move she was ready to help us list. She walked through our house and we ...

Seller

We sold our family home in South Philly through McCann Realty. I highly recommend using Katie McCann. She is so knowledgeable about the market and is very professional. She made it painless. Nicole, who handled a lot of the pap...

Rodney N.

Katie is an exceptional real estate agent! She consistently finds off-market gems, provides expert guidance on design, and markets my properties to get top dollar. Her dedication and expertise are unmatched—I highly recommend h...

Buyer

Katie did an amazing job assisting us with the purchase of our new home. She has extensive knowledge of the Philadelphia area, and was super responsive and flexible and worked around our busy schedules. I would recommend Katie ...

Kaitlyn L.

As first-time homebuyers, we really appreciated how responsive and knowledgeable Katie was throughout the process. She answered all our questions with patience and made sure we felt supported every step of the way. She and her ...

Riley K.

First-time homebuyer here. As someone who knew nothing about the market, Katie was an incredible asset to have in every way. She made things feel seamless from start to finish. Most importantly, it genuinely felt like Katie had...

Gabrielle B.

We’ve chosen to work with Katie and Sean through every chapter of our time in Philadelphia—from renting our first home, to buying our first home, and then selling it years later. They are incredibly honest and knowledgeable, an...

Yuliya K.

Working with Katie made our first-time home buying experience a breeze! She was incredibly accessible to answer all of our questions, was very knowledgeable about the local market, and provided invaluable advice as we toured ho...

Seller

Katie did an outstanding job of assisting me in the sale of an estate family home. I was nervous about the process and how long it might take, but Katie made everything easy and understandable. We met in person and she took the...

Amanda K.

Katie & Sean recently helped us sell our first home in South Philly. Unfortunately, our original listing went stale and our previous agent had run out of ideas to make the property sellable. We contacted Katie & Sean from the M...

Buyer | Seller

Katie is amazing. She is one of the most knowledgeable realtors in the area, and we have complete confidence whenever we work with her. She is responsive, strategic, and always advocates for our best interests. After we purchas...

Adam

Katie has been an instrumental partner for us in both buying and selling homes. She brings deep expertise in the Philadelphia market and was consistently responsive whenever we had questions throughout the process. She also wen...

Kevin I.

I initially had my house listed with another realtor, but things didn’t work out. I decided to go in a different direction and came across Katie and her husband, and I’m really glad I did. From the start, they were extremely kn...

Buyer | Seller

Katie made both buying and selling an easy, low-stress experience. She was extremely knowledgeable and was able to explain things that we didn't understand much more clearly. Communication was timely and to the point, which was...

Qian Z.

Katie did an outstanding job assisting us with the purchase of our new condo. Her expertise in the market, responsiveness, and guidance made the entire process so much smoother. She has been absolutely amazing, and we are truly...

Savannah F.

As first-time homebuyers looking for a condo in Philadelphia, we couldn’t have asked for a better team than Katie and Sean. They were incredibly knowledgeable about the local market and walked us through every step of the proce...

Buyer

We had an exceptional experience working with Sean. From start to finish, he was attentive, patient, and truly listened to our needs—making us feel as though we were his only clients. He met us exactly where we were on our home...

Thomas N.

Sean was an outstanding buyer's agent. Professional, knowledgeable, articulate, responsive, and trustworthy—Sean makes the property-buying process clear and easy. He also goes above and beyond to set you up with competitive len...

Kevin S.

Sean did a terrific job assisting us with the purchase of a condo in downtown Philadelphia. His knowledge of the real estate market in downtown Philadelphia was instrumental in locating several quality options for our potential...

Anna T.

Sean is the person to help you find the perfect home! He genuinely cares about his clients and about finding the right home for them. Honest, dedicated, and knowledgeable! Highly recommend!

Real Estate with a Human Touch

Katie and Sean combine years of real estate experience with a thoughtful, hands-on approach to give every client the personal attention they deserve. We believe in clear communication, honest advice, and being there throughout the process, creating a real estate experience built on trust, confidence, and genuine relationships.

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