Step 1 — Get Pre-Approved and Set Your Budget
Before browsing listings, it’s essential to understand how much home you can afford.
A mortgage pre-approval gives you a clear budget, shows sellers you’re serious, and saves time when making an offer.
Gather your income statements, tax returns, and credit report early — most lenders can issue pre-approvals within 48 hours.
Learn more about pre-approval
Step 2 — Explore the Right Neighborhood
Every borough offers something unique.
Brooklyn: Creative energy, brownstone charm, and family-oriented communities
Queens: Spacious homes, diverse culture, and great value
Manhattan: Luxury amenities, central location, and urban convenience
Consider your commute, lifestyle, and future resale value when narrowing down where to buy.
Compare NYC neighborhoods here
Step 3 — Make Your Offer and Prepare for Closing
Once you’ve found the right home, your agent will guide you through making a competitive offer.
Be ready for closing costs (typically 2–5% of the purchase price), attorney fees, and final inspections.
Working with an experienced NYC agent ensures you negotiate the best deal and avoid common pitfalls.
Understand closing costs
First-Time Homebuyer FAQs (NYC Edition)
What is a mortgage pre-approval and why is it important?
A mortgage pre-approval is a document from a lender confirming how much you can borrow. It shows sellers you’re a serious buyer and helps you shop with a clear budget. In NYC’s competitive market, pre-approval is often required before touring or making offers.
How much do I need for a down payment in NYC?
What’s the difference between a condo and a co-op?
What are closing costs in NYC?
What neighborhoods are best for first-time homebuyers in Brooklyn?
How long does the home buying process take in NYC?
Should I buy now or wait?
How do I know what I can afford?
Can I tour homes before I’m pre-approved?
Can I buy a home in NYC with low down payment programs?”