How to Start the New Home Buying Process in New York State

Start Your Home Buying Process with Building Experts

The home-buying process can be complicated and confusing, especially if it’s your first time buying a home. By understanding the basics of what you need to do, you’ll be well on your way to finding the perfect property for you and your family.

Our new home sales professionals at Marrano Homes provide an overview of the steps involved in the home-buying process in Rochester and Buffalo, New York. We will work with you to find the perfect home plan and provide all the information and resources you need to make the best decision for your family.

An Introduction to the New Home Buying Process in New York State

The process of buying a home in New York State can be both exciting and daunting. Here are 10 home-buying steps that must be taken in order to ensure a smooth transaction:

  1. Visit Model Home – Location, location, location. The first step is to find the town, community, and homesite where you want to live. By visiting the builder’s model center, you’ll be able to see the community and surrounding amenities (including the school district) as well as walk lots to choose the perfect site for your new home. You can even check out our model homes online and virtually design your own home with the layouts provided by our Design-a-Home App.
  2. Initial Deposit – When you find the perfect lot for you, reserve it with an initial deposit. This gives you time to review documents and the purchase agreement.
  3. Obtain a Mortgage Pre-Approval – It is important to obtain a pre-approval from a mortgage lender. This will provide you with an estimate of the amount you can borrow and help to establish your maximum budget.
  4. Hire an Attorney – Even if you’re working with a real estate agent, you will want to hire an attorney to review all the legal documents and help you understand exactly what you are signing. The purchase agreement is a legally binding document, and it is important for you to know the terms prior to making a final commitment.
  5. Purchase Agreement/Contract – The next step in the home-buying process is to choose the model you want to build. Marrano Homes offer a variety of new home floor plans you can choose from. Your new home sales professional will help you understand the standard features that are included in the purchase as well as any options you may want to add to personalize your layout.
  6. Release for Construction – Now that you’ve chosen the lot, home style, structural components, and options of the home, it’s time to start the building process by “releasing for construction.” Your new home sales professional will explain everything you need to know about the building process.
  7. Meet With the Designer and Customer Coordinator – After signing the sales contract and giving the go-ahead to start construction on your new home, expect a designer and customer coordinator to contact you to schedule your first meeting. This is when you visit Marrano’s Design Center and start making selections to make the home your own.
  8. The Construction Begins – The fun and exciting part starts here! The construction of your new home is in process. You’ll be assigned a project supervisor who will provide regular updates on the progress of construction and meet with you for scheduled on-site walk-throughs.
  9. The Settlement or Closing Schedule – Throughout the process, you will receive an estimated delivery date for your home. Marrano’s closing counsel will work closely with the production supervisor, your attorney, and the lender to schedule the payment, closing, and transfer of keys.
  10. Pre-Inspection of Your New Home – A week or two before the settlement and closing, there will be a pre-inspection walk-through of your new home. This gives you a chance to mark items requiring attention and review the operation of all mechanicals in your home. Any punch list items will be corrected prior to closing or scheduled at a time convenient for you after you have moved in.
  11. The Closing Day – You made it to the final step of the home-buying process! Congratulations, the beautiful newly constructed home is yours!

Home Buying Process in Rochester & Buffalo, NY

Get Pre-Approved for a Mortgage in New York State

One of the first steps you should take in the home-buying process is to get pre-approved for a mortgage. Fortunately, getting pre-approved in New York State is relatively straightforward.

The first step is gathering all required financial documents, including your tax returns, pay stubs, and bank statements. Once you have everything you need, you can start shopping around for a local mortgage lender. Choosing a local mortgage lender is vital in the buying process because they are familiar with the local real estate market. After finding a mortgage lender you’re comfortable with, you’ll need to fill out a mortgage application. The lender will then review your financial information and determine how much they’re willing to lend you.

Getting pre-approved for a mortgage is an important step in the home-buying process, and it can help make the entire process smoother and hassle-free.

Finish Your New Home Buying Process with Us

Marrano Homes are committed to helping you through every step of the new home-buying process. We understand that this can be a stressful time, and our goal is to make the process as smooth and as easy as possible for you. Find your dream home in our large selection of model homes, or check out our Design Center for inspiration and options.

If you don’t have the time to build a new home, consider one of the many move-in-ready homes in Buffalo and Rochester waiting for you.

Start building your new home with us. We are here to answer any questions you have and to help you navigate the new home-buying process effortlessly. Contact us today and experience The Marrano Difference!

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