First-Time Buyers Guide

Don't Know Where to Start? Don't Worry!

Buying a home—especially if it's your first one—is a big step. Between figuring out finances, searching for the right neighborhood, packing up your old home, and scheduling showings, it's easy to feel overwhelmed. Luckily, you don't have to do it all alone. Our resources are made to help first-time buyers navigate Metro New Orleans real estate and find their dream home, successfully and stress-free!

From helping you break down the costs to narrowing down your options with our home search tool, we can help you buy your first home. Any questions? Don't hesitate to give us a call!

Find Your Perfect Neighborhood

New Orleans. The Big Easy. Home of Mardi Gras, Bourbon Street, and some of the best Creole cusine you can find. It's no wonder so many people love calling this city home! Around the Metro New Orleans area, you'll find a number of unique communities and neighborhoods, each offering their own perks and lifestyles. Finding the right neighborhood is just as important as finding the right home, so browse our in-depth area guides to look for your perfect fit.

Local Area Guides

Consult Your Finances

Are you gearing up to buy your first home? One of the best ways to know where you stand financially is to get pre-approved by a bank or lender. Not sure what pre-approval is? It involves reviewing every aspect of your finances with the bank, like your credit score, annual income, tax information, savings, any outstanding debts you may have, and any assets you've earned over the years to find out how much the bank will loan you. After your financial portfolio has been adequately reviewed, the bank will get back to you with the number they're willing to give, and your budget will be set.

Just like with most things, different banks and lenders will have different rates. It's important to get a number from a few so you know you're getting the best possible deal. Not sure where to start? We can recommend a few of our trusted contacts!

The Upfront Costs of Buying a Home

In addition to your monthly mortgage payments, you can expect to pay some costs up front and out of pocket. Here's what you're looking at for upfront costs.

Down Payment

Ideally, you'll be able to pay 20% of your home's overall cost as your down payment. In other words, for a home that's $300,000, you would pay $60,000 up front. Depending on the loans you get, however, you could only have to pay a few percentage points of the total cost instead.

Earnest Money

Earnest money is sort of like the security deposit of home buying. It's a smaller payment—anywhere from $500 to over $1,000—that you make to the seller to show that you're serious. Once the sale goes through, the money will be added to your down payment. 

Home Inspection

The last thing you want is to buy a home and inherit a bunch of issues from the previous owners. A home inspection will help you find any last-minute problem areas and get them addressed by closing. A typical home inspection cost is anywhere between $300 - $700.

Closing Costs

You're almost done! Just a few more final steps, and you'll be handed the keys to your new home. As far as closing costs go, they're typically low for buyers, and include things like real estate attorney fees, taxes, title expenses, and the cost to actually process your mortgage. 

Calculate Your Monthly Payments!

Want to get a better idea of what you might be paying per month? Take a look at our handy mortgage calculator to help estimate your monthly costs.

Ready to Find Your
Dream Home?

Every buyer is different, so every buyer has different wants and needs for their home. Maybe you're interested in an expansive estate on a private lot in East Jefferson. Maybe a smaller condo in a historic building in the French Quarter is more your style. Whatever it might be, you can use our specialized search tool to narrow down your options based on features, size, location, and more! Once you find a few listings that stand out, give us a call to set up a showing.

Meet Your Perfect Match

Additional Home-Buying Resources

Still need some info? We've got more for you to explore!

Simplify Your Home-Buying Process

Buying a new home can be intimidating, but you don't have to figure it all out alone. When you work with the Nugent Freeland Team, we'll go above and beyond to make sure your needs are met and your questions are answered. Take some time to dive into our resources, get to know more about our experience in the area, and give us a call to get started!

Contact Us

By giving us your phone number and email address, you are giving The Nugent Freeland Team permission to contact you via email or phone.