How Do I Get Started as a First-Time Buyer?
Buying your first home is one of the biggest financial decisions you will ever make. It is normal to feel nervous, excited, and overwhelmed all at once. My job is to make the process clear, manageable, and even enjoyable.
I have helped hundreds of first-time buyers in Burlington County and South Jersey find their perfect home. From understanding your budget and getting pre-approved to writing a competitive offer and closing, I will be with you every step of the way.
My approach is simple: educate first, sell second. I will never pressure you into a decision. Instead, I will give you the information, tools, and confidence to make the right choice for your future.
What to Expect
Typical First-Time Buyer Numbers
Understanding the numbers before you start shopping makes the whole process less intimidating. These are realistic ranges for Burlington County and South Jersey.
Typical Down Payment
3% to 20% down on a typical Burlington County home priced between $300,000 and $600,000. FHA loans require just 3.5% down, and many conventional loans accept 3% to 5% for qualified first-time buyers.
Closing Costs in NJ
Closing costs in New Jersey typically range from 2% to 5% of the purchase price. On a $400,000 home, that's $8,000 to $20,000 in lender fees, title insurance, appraisal, attorney fees, and transfer taxes.
Commute to Philadelphia
Burlington County towns range from 15 minutes (Maple Shade) to 45 minutes (Medford) from Center City Philadelphia. The PATCO Speedline reaches Philadelphia from Camden in about 7 minutes, or you can take NJ Transit's River LINE from towns like Cinnaminson, Riverton, and Bordentown.
Typical Home Prices
Burlington County's median home price typically ranges from $300,000 to $600,000, with entry-level homes in the upper $200,000s and premium properties in Moorestown and Medford reaching $800,000+. First-time buyers often find great value in towns like Maple Shade, Delran, and Burlington Township.
Tips for Success
What Should First-Time Buyers Know?
Here are some key things I share with every first-time buyer I work with:
- Get pre-approved first. A pre-approval letter shows sellers you are serious and gives you a clear budget. Many lenders can pre-approve you within 24 hours.
- Look into NJ first-time buyer programs. The New Jersey Housing and Mortgage Finance Agency (NJHMFA) offers down payment assistance programs of up to $10,000 for qualified first-time buyers.
- Plan for property taxes. New Jersey has the highest property taxes in the nation, averaging about 2.5% of home value annually. On a $400,000 home, budget about $10,000 per year in property taxes.
- Budget for inspection and closing. A home inspection typically costs $400 to $600, and a radon test adds $150 to $200. These are small investments that protect your biggest purchase.
Schedule a free consultation to get started, or call me at 856.347.2002.
Ready to Begin?
Let's Make Your First Home a Reality
I have helped hundreds of first-time buyers find their perfect home in Burlington County. Let me help you too, step by step, with no pressure and honest advice at every turn.