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First Time Home Buyers

First Time Home Buyers

Taking that step towards being a first time home buyer can certainly be a little overwhelming. Whether you are a young single adult or a couple looking to move into a bigger location to start a family, stepping out of the rental comfort zone can be intimidating. However, you don’t have to do it alone – this is where we come in! With the Megan Dowdy Realty Team’s extensive knowledge and experience, we can help you find your first home and explain the process every step of the way.

Renting vs. Buying

It’s easy to become nervous when thinking about making the leap from renting to owning. For those that have spent years renting, it has become a familiar process: Pay your rent on time, no outside maintenance required, and if something breaks, you call your landlord and they come in and fix it with no out of pocket cost to you. Although renting sounds ideal and hassle free, consider that the cost of paying rent over time is equivalent to the cost of a hefty down payment on a home where you can build equity and have an investment.




Little to no maintenance.No rent control.Not dependent on landlord for repairs.Responsible for repairs and maintenance.
Easier to move.No build up of equity.Stability and security.Responsible for property taxes.
Possibility of eviction.Builds Equity.Possibility of foreclosure.
No Tax Benefits.Control of landscaping and decor.Less mobility than renting.

The Megan Dowdy Realty Team can assist you in purchasing your first home with the following simple steps:

Step 1: How Much Can I Afford? Megan Dowdy Realty has the resources and experience to put you in touch with a lender that best fits your individual needs as a first time home buyer. Once we have a pre-approval of the loan amount that you qualify for, we will begin the search together to find your first home. We will work together to find a home that fits your needs as well as one that works within your budget. We can also show you how to keep your monthly mortgage payments as low as, or lower, than the rent payments that you are used to making!

Step 2: What Are You Looking For in a Home? Before we begin the search for your new home, it is important that we establish your needs and wants for your new home. We can help you look for the house that meets the criteria of what is most important to you. For example, if you are a young couple looking to start a family, wanting to purchase a home in a location with some top schools might be a top priority. Whether it’s purchasing a condo, a resale, or a new home construction, we can help you through the process to meet all your wants and needs.

Step 3: Found Your Dream Home – Now What? Once we have your criteria set and begin to look at houses, you will know instantly when you have found the house that you can turn into your dream home. We will work with you to put together an offer to get the price you want and discuss the terms of the contract.

Step 4: Offer Accepted! What Next? After your offer has been accepted, a home inspection should be scheduled. Why is this important? A thorough inspection of the property will tell you if there are any defects or repairs that are needed on the home. After the inspection, we will coordinate with all other parties in order to make sure all requirements and deadlines are met prior to the closing. Everything will be explained to you each step of the way so there are no surprises that pop up.

Step 5: Congratulations! Welcome to homeownership. Now that you have the keys to your house, you can begin to move in and start the process of making the house your own!

We’re sure that after reading through the process that you are eager to begin the process. We can help! The following form will be able to give us all the information that we would need in beginning to assist you with your search!

First Time Home Buyer Checklist

Submit Buyer Registration Form

Obtain Pre-approval

Set wants and needs with Realtor

Search for Homes

Put in an offer on a home

Home & Termite Inspection

Lock In Rates

Obtain Homeowner’s Insurance

Finalize Loan


Buyer Registration Form

Contact Information


Your New Home


Mortgage Info