How to Buy a House, Whether It’s Your First or Fifth Time.

Why Every Buyer Needs a Refresher

Whether you are a first-time homebuyer or have purchased several homes, the process can feel brand new each time. Real estate laws, lending standards, and local inventory change constantly. Even seasoned homeowners admit that you only know what you know, and you do not know what has changed until you are back in it.

This guide explains what remains consistent, what has evolved in 2025, and how to approach your next purchase with confidence.

Step 1: Get Pre-Approved and Understand What You Can Afford

Start with a lender, not a listing. Your pre-approval determines your true buying power, and in competitive markets like the South Shore, sellers expect it before they will consider an offer.

In 2025, interest rates generally range between 6 and 7 percent for conventional loans. Lenders focus closely on your debt-to-income ratio and cash reserves, particularly for smaller down payments. Different lenders also offer different loan products and based on your financial position, you may have access to mortgage products you're not familiar with. 

If it has been several years since your last purchase, expect to provide more documentation. The digital mortgage process is faster today but far more data-driven. A great place to start this conversation is with your financial advisor, they can direct you to their mortgage department. Also speak to local lenders who may have more competitive loan products. If you need some names, I can help. 

Step 2: Work with an Agent Who Understands Strategy, Not Just Sales

Buying a home today takes more than unlocking doors. You need an agent who understands pricing trends, inspections, negotiations, and how to structure an offer that stands out.

I approach every transaction with strategy and experience, drawing from years of helping clients and from buying and selling many homes myself. I know how overwhelming the process can feel, especially when market conditions, timelines, and expectations vary from place to place.

My role is to anticipate those challenges before they happen, coordinate every detail, and help you make confident, informed decisions at every step.

Step 3: Understand the 2025 Market

This is not the same housing market you remember from pre COVID days. Inventory remains limited, and desirable homes often receive multiple offers.

You will need to make relatively quick but informed decisions, maintain a strong pre-approval, and sometimes prioritize flexible terms over price.

If you have not purchased in a few years, expect new tools such as digital listings, AI-driven valuations, and predictive pricing. Still, local experience and knowledge remains the deciding factor in successful negotiations.

Step 4: Tour Homes with Purpose

Online research helps, but photos cannot reveal natural light, neighborhood noise, or floor plan flow. When touring, focus on layout, condition, renovation potential, and commute time.

Pay attention to utility systems such as oil versus gas or septic versus sewer, which matter and vary sometimes within neighborhoods. I recommend that you visit your top choices twice before deciding to make an offer if the time allows.

Step 5: Make an Offer that Balances Confidence and Caution

Once you have found the right property, I will guide you through offer terms, comparable sales, deposit amount, and contingencies.

In Massachusetts, deposits are typically around 5%. In a competitive situation, a clean offer with verified funds and flexible timing can often beat a higher price. 

Step 6: Home Inspections Still Matter

Do not skip the inspection. It protects you from costly surprises. A qualified inspector will identify issues that may affect negotiation or future maintenance.

If this is your first home, I will help prioritize what is truly important. Not every cosmetic issue requires immediate attention. 

Step 7: Appraisal and Loan Finalization

After your offer is accepted, and typically after the Purchase and Sale agreement is signed, the lender orders an appraisal to confirm value. It's not common but appraisals sometimes come in below the agreed upon purchase price. I've worked with this challenge before and there are solutions if this does come up. 

Final underwriting follows, where the lender rechecks your income and assets before approving the loan. Avoid opening new credit lines or making large purchases until after closing.

Step 8: Closing Day

You will receive your Closing Disclosure a few days before settlement. It outlines every cost and credit associated with the purchase.

In Massachusetts, closings are usually handled by an attorney. If you are relocating, expect differences in both pace and paperwork of the transaction from the state that you are moving from.

Bring your identification, a cashier’s check or wire confirmation, and patience for the signatures. Then, you receive the keys.

What Has Changed in the Last Five Years

• Interest rates are higher, but competition remains intense. Buyers who entered the market when rates were under 4% are often surprised by how resilient demand still is at 6–7%. Price growth has slowed, but well-located homes continue to move quickly.

• Inventory is tighter and turnover is slower. Many owners are holding onto low-rate mortgages, which means fewer homes for sale and more competition for quality listings.

• Cash and strong financing terms carry more weight. Sellers prioritize certainty over the highest number, so verified funds and clean offers often win.

• Digital tools have replaced most of the guesswork. Buyers now use AI-assisted search, virtual tours, and predictive pricing tools but local expertise still determines whether those numbers make sense.

• Insurance and climate factors are front and center. Coastal and flood-prone areas now face tighter underwriting and higher premiums, which can impact affordability and financing.

Common Questions

Do I need 20 percent down?
Not always. Many buyers put down between 3 and 10 percent, though you may need to budget for private mortgage insurance. 

Can I buy before I sell?
Yes, but timing and financing strategy are key. Bridge loans or flexible closings can make this possible.

How long does buying a house take?
Expect 30 to 60 days from offer acceptance to closing, depending on lender timelines and title clearance.

Is now a good time to buy?
If you are financially stable and plan to stay for at least five years, yes. Ownership continues to outperform renting over time on the South Shore.

About the Author

Erin Freeman is a dual-licensed Realtor with Gibson Sotheby’s International Realty in the South Shore and Premier Sotheby’s International Realty in Central Florida, specializing in relocations and lifestyle-driven moves in Massachusetts and Florida. She helps clients navigate every stage of buying, from their first home to their forever home.