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December 17, 2023 | Fowler Sakey Team

Fowler Sakey & Team's Complete Homebuying Guide for Fairfield County

Fowler Sakey & Team's Complete Homebuying Guide for Fairfield County

Fairfield County is renowned for its endless outdoor recreation and variety of luxury real estate. As of August 2023, there were several hundred Fairfield County homes publicly listed between

$1 million and $35 million. From waterfront estates to multimillion-dollar Colonials and Greek Revivals, you’ll soon encounter many options.


Let's explore what it takes to acquire a luxury home with the Fowler Sakey & Team's complete homebuying guide.


1.   Establish your homebuying timeline

No buyer wants to rush their home purchase or have it drag out for a year. To minimize stress and impose a sense of urgency, determine a realistic timeframe for your home purchase.
Working with a savvy agent, you’ll find it easy to adjust that timeline based on your unique set of circumstances. Even if you don't hit every milestone on the exact date you set, knowing where you are and what comes next will keep your nerves steady and your goals in sight.

2.   Determine a budget

Your eventual home’s list price likely constitutes most of your budget. Examine your finances closely; besides setting a maximum dollar amount, you will need to decide how to finance your purchase, determine the size of your down payment, and account for ancillary expenses (including but not limited to appraisal fees, inspection fees, closing costs, and moving expenses). You'll also want to ensure you've set aside enough money if you're planning upgrades or improvements to the home before fully settling in.


3.   Organize your home buying priorities

Your budget goes in tandem with your wants and needs. Usually, the most critical variables are location and home size. A home’s location determines its school district, while its size can be broken down into square footage, acreage, and number of bedrooms. You might also have special requirements for the space (think home office or garage) or type (like the house’s architectural style, age, or condition).


4.   Partner with a local real estate agent

Experienced real estate agents are invaluable to buyers. They provide insight into the local market, keep you informed, and put you in touch with contractors and service providers necessary to your purchase. You want someone with a track record of success and a list of satisfied clients. Look for professionals with excellent referrals, transparent communication styles, and working knowledge of Fairfield County — its homes, neighborhoods, and market trends.


5.   Acquire mortgage pre approval

You'll want to secure preapproval if you're financing your home purchase. Outside of cash offers, a competitive offer backed by a lender's preapproval letter is the strongest you can make. Shop around and choose a reputable lender with favorable rates and mortgage programs.
Doing your homework can result in better rates and lower expenses, including lower down payments, closing costs, and an overall fair loan.


6.   Conduct your home search

Arguably the most enjoyable part of the homebuying process is researching homes. The right fit will suit the budget and priorities you established earlier. Regarding luxury real estate, a few of the most popular neighborhoods in Fairfield County include Darien, Greenwich, New Canaan,
Ridgefield, and Westport. As you hone in on location, your agent will show you homes that check your most important boxes.


7.   Submit an offer and negotiate final pricing

Once you’ve found the perfect Fairfield County home, it’s time to make an offer. Your local real estate agent will catalyze this process, making sound recommendations and explaining the finer points of your offer. They will ensure you make a competitive bid free from unwanted contingencies. As negotiations proceed, you might order a home inspection to uncover any issues before the property becomes yours.


8.   Closing on your new home

Once a seller accepts, you pay an earnest deposit, and the home is officially under contract. Going from the first offer to close can take 45 to 60 days. Negotiations, inspections, and finalizing your loan take the most time. The entire process includes:
  • Executing the purchase agreement
  • Creating an escrow account
  • Ordering a title report
  • Buyer's inspection
  • Post-inspection negotiations
  • Appraisal (requested by a lender)
  • Executing the contract
  • Settlement
  • Payment of closing costs
  • Disbursement of funds
As required in all Connecticut property transactions, a real estate attorney will guide the parties through the final stages of closing. Upon signing the closing documents and paying the appropriate fees and closing costs, you'll be the proud owner of a sought-after Trumbull luxury home.

Ready to make a move?

If you're ready to buy or sell a home in Fairfield County, you can take one huge step in the right direction by working with the Fowler & Sakey Team. Our years of successful experience and expertise will provide you with a better real estate experience. Clients on the buyer and seller side have found every reason to work with our agents. Reach out to the Fowler & Sakey Team today.

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