Ann Arbor · First-Time Buyers
Buying your first home in Ann Arbor
Every step explained in plain words, so your first home purchase makes sense before you sign anything.
A first home in Ann Arbor, explained in plain words
Buying a first home in Ann Arbor can feel like a lot at once. The market moves, the words are new, and you're expected to make a big decision with confidence anyway.
I explain every step before you get to it, in plain words. You'll know what pre-approval means, what earnest money is, and what happens at the inspection before you need to. I tell you what I recommend, and you decide.
Where first homes are in Ann Arbor
Ann Arbor has a few kinds of homes that often work well as a first home. Neighborhoods of 1950s ranches close to downtown give you one-floor living without a long drive. In Water Hill, some century-old houses have just two bedrooms, which can make a home near downtown and Kerrytown possible on a smaller budget.
Older homes near downtown can be a great first home too, as long as you look at them carefully. Many are around 100 years old, and some have smaller square footage or no garage.
If Ann Arbor itself stretches your budget, nearby towns can help. Ypsilanti, just east of Ann Arbor, comes in at a lower price point. I'll show you recent sales in both, so you can compare them side by side.
The money, step by step
Your first step is a lender and a pre-approval. The lender tells you what you can borrow. We also talk about the monthly payment you're comfortable with, because that's the number that decides how the next few years feel. If you need a lender, I can introduce you to lenders I trust.
When your offer is accepted, you put down earnest money, a deposit that shows the seller you're serious. On closing day, that earnest money is applied to your closing costs. There are also inspection costs and closing costs to plan for, and your lender can show you what to expect.
From your offer to your first set of keys
Before I write your offer, I pull the recent sales nearby and call the listing agent to learn about competition and what matters to the seller. Then we decide on your price and terms together.
Once your offer is accepted, the first few days can feel busy, because your lender and I will both ask you for documents. That pace slows down. Then comes the inspection, where we focus on safety, structural issues, and foundation issues. On closing day, I like to do the final walkthrough right before closing and then go straight to the signing, so you know nothing has changed.
Read more in how I help you get ready to buy.
Ready to start?
If you're thinking about buying your first home in Ann Arbor, call me or send a note. Bring every question, even the ones that feel basic. You can also read my page for first-time buyers across the area or my guide to Ann Arbor neighborhoods.
Frequently Asked Questions
What is earnest money?
A deposit you put down when your offer is accepted, showing the seller you're serious. On closing day, it's applied to your closing costs.
Can I find a first home in Ann Arbor, or should I look nearby?
Both are worth a look. Ann Arbor has 1950s ranches and some smaller older homes, and Ypsilanti, just east, comes in at a lower price point. I'll show you recent sales in both.
Why does the first week after an accepted offer feel busy?
Your lender and I both need documents from you to get the loan and the paperwork started. It slows down after the first few days.
Ann Arbor
What first-time buyers looks like in Ann Arbor
A university city on the Huron River, with century-old homes near downtown, 1950s ranch neighborhoods, mid-century modern homes in Ann Arbor Hills, and culture all year.
- The homes
- Older homes within walking reach of downtown, plus neighborhoods of 1950s ranches that are also close in.
- Why people choose it
- A city built around the University of Michigan, where town and campus flow into each other. Ann Arbor is known as Tree Town, and it's a very environmentally conscious place.
- Getting around
- A very bike-friendly city, with many dedicated bike lanes. On University of Michigan football Saturdays, plan to avoid driving near Michigan Stadium from about two hours before kickoff until about two hours after the game ends.
- Nearby
- Downtown theaters and music venues, including the State Theatre, the Michigan Theater, The Ark, the Lydia Mendelssohn Theatre, and Hill Auditorium, plus the University of Michigan Museum of Art. The original Zingerman's Deli on Detroit Street, the Huron River, and the trails and peony garden at Nichols Arboretum.
- The trade-off
- Downtown can be busy, especially near campus on State Street, and football Saturdays take over the city.
First-Time Buyers: keep exploring
Ready to make your move with Nancy Arnold?