How to Prepare For Your Home Search As A New Buyer

The Weekly Recap

Good morning and happy Friday! Manhattan real estate activity is heating up, there may be a new Fed chair announced before we know it. Trump’s housing plan would allow you to dip into your 401k for a down payment on a home. Family offices are re-calibrating their real estate portfolios if the ban on single family home purchases takes affect. If you thought Sommeliers were pretentious just wait until you tried to get upsold by a Water Sommelier and we’re closer to being able to summer in Greenland if we want.

If you missed last weeks newsletter on How Do You Win A ‘Best and Final’ Offer Submission, you can read that through the link.

How To Prepare For Your Home Search As A New Buyer

Buying your first home is exciting time and can also be a little overwhelming. Preparation though, can turn that overwhelming feeling into confidence. The buyers who feel most in control aren’t necessarily the ones with the biggest budgets; they’re the ones who did the upfront work before stepping into their first showing. Here’s how to set yourself up for a smooth, strategic, and successful home search.

Get Clear on Your “Why”: Before we talk numbers or neighborhoods, start with intent.
Ask yourself: Why am I buying now? Is it stability, lifestyle, investment potential, or a combination of all three? Your “why” becomes the filter through which every decision runs whether its about location, size, amenities, and even timing. Buyers who skip this step often get distracted by shiny features that don’t actually serve their long-term goals.

Understand Your Financial Reality (Not Just the Max): getting pre-approved is essential, but it’s only step one. Just because a lender approves you for a certain amount doesn’t mean that number fits your comfort level or broader financial plan.

You should also be considering your comfort with monthly payments (not just mortgage, but taxes, insurance, maintenance), upfront costs (down payment, closing costs, reserves) and how flexibility for life changes over the next 3–5 years you may need. The goal isn’t to stretch to be cash poor and house rich, it’s to buy from a position of strength.

Learn the Market Before You Shop It: New buyers often focus solely on available listings. Savvy buyers study the behavior of the market: How quickly are homes selling Are prices trending up, down, or stabilizing? Are sellers negotiating or holding firm?Understanding market dynamics helps you move decisively when the right opportunity appears and keeps emotions in check during negotiations. This is where a strong partner real estate partner can really exercise their value to you.

Separate “Must-Haves” from “Nice-to-Haves”: Every buyer walks in with a long wish list. The key is prioritization. Square footage, location, light, outdoor space, commute, school zones, building financials, these don’t all carry equal weight. When inventory is competitive, clarity is leverage. Knowing what you won’t compromise on (and where you’re flexible) allows you to act quickly without regret.

Assemble the Right Team Early: In my experience, time kills all deals. Waiting to find the right home then putting the team in place can be the difference between winning and losing a deal.

Your advisory team should consist of a trusted real estate advisor who understands the market, the asset and the negotiation. Your agent should have a deep rolodex of people to connect you with to fill the next two roles which are a lender who can move quickly and communicate clearly and an attorney who is proactive, not reactive

Real estate is a team sport and preparation avoids costly delays.

The most successful buyers aren’t rushed, they’re ready. Preparation turns uncertainty into clarity and confidence into leverage. When you understand your goals, your finances, and your market, the process becomes less about stress and more about opportunity.

If you’re considering your first purchase and want a thoughtful, strategic approach, the conversation should start well before the first showing. Feel free to reach out to discuss how we can achieve your real estate goals together!

Market Performance

Here are how some other indexes and asset classes have performed as of this morning’s opening bell.

NYC Market Update

Here is a view of NYC market activity over the past week.

Mortgage Rate Update

With the economy improving and the average 30-year fixed-rate mortgage nearly a full point lower YoY, more homebuyers are entering the market. Buyers should shop around for best rates between lenders as the extra time can save thousands.

News You Can Use

• Hassett Reveals Trump Housing Plan Would Let Americans Tap 401(k)s for Down Payments Fox Business

• Stocks Rally After Trump Announces Framework for Greenland Deal And Cancels Additional Tariffs Wall Street Journal

• US Q3 GDP Revised Up to 4.4% Reuters

• NYC Bans Hidden Hotel Fees Ahead of World Cup Tourist Influx Bloomberg

• Investment in Manhattan Real Estate is Booming, with Union Square Storefronts Filling Up NY Post

• Trump Signals He Has Favorite For New Fed Chair CNBC

• Trump’s Proposed Ban on Buying Single-Family Homes Introduces Uncertainty for Family Offices CNBC

• Top JPMorgan Banker Says Its Shaping Up to Be a Vintage Year for Deal-Making Bloomberg

• Can Water Sommeliers Convince Us to Pay More for Premium H20? Bloomberg

The Deep Insight

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