Financial Readiness: The Missing Key to Successful Home Buying

Be the Solution with Maria Quattrone

Ready to buy a home this year? You need to get your financial house in order first. Many aspiring homeowners make a critical mistake by waiting until they've found their dream property before securing pre-approval. By then, it's often too late.
The current Philadelphia metro market is experiencing a 15% year-over-year inventory decrease, creating fierce competition for available homes. This means buyers must be fully prepared to act immediately when they find the right property. Getting pre-approved isn't just about confirming you qualify for a mortgage—it's about understanding exactly what you can afford, including the impact of property taxes which vary significantly between neighborhoods.
A complete pre-approval requires submitting W-2s, pay stubs, bank statements, and other financial documentation. Having these organized and submitted before house hunting puts you in position to move quickly. Additionally, your funds should be liquid and accessible for deposits without delays. Today's competitive environment also calls for strategic approaches like "walk and talk" inspections, where an inspector joins your showing to provide immediate feedback without formal reports.
The best time to enter the market is now, before the traditional spring rush brings more buyers in March and April. Sellers are already preparing properties to take advantage of the current low inventory, making early 2023 potentially advantageous for prepared buyers.
At MQA, we customize our approach for each client's unique situation, understanding not just what you're looking for but why it matters to you. Whether buying or selling, the key is treating each client's journey with personal attention and care—as if they were family.

🎧 What You’ll Learn:

• Why pre-approval isn’t optional
• The importance of knowing your true monthly budget
• What to expect from taxes in different Philly neighborhoods
• How to prepare funds for your deposit before going under contract
• What a “walk and talk” inspection is—and why it matters in competitive offers
• Custom strategies Maria uses with each client to ensure a smooth transaction

🗣️ Quotes to Remember:

• “Seeing a home before you’re pre-approved is like shopping without a wallet.” – Maria Quattrone
• “There’s no cookie-cutter solution. Every buyer and seller deserves a personalized strategy.” – Maria Quattrone
• “If you’re not ready when the right house hits the market, someone else will be.” – Maria Quattrone

📚 Resources Mentioned:

• Turn the Key Philly Program
• Riverwards Group
• BIA & Accelerator Fund (more in the upcoming episode with Mo Rushdy)

Want more insights? Follow along and share this with someone who might benefit. And don't miss my upcoming podcast featuring Mo Rashudi from River Wards Development Group discussing exciting initiatives in the Philadelphia market!

Connect with Maria Quattrone:
Facebook: Maria Quattrone
Facebook Page: REMAX at Home Facebook
Facebook Page: Rise in Real Estate Facebook
LinkedIn: Maria Quattrone
YouTube: Maria Quattrone
Instagram: @maria_quattrone
TikTok: mariaquattronerealestate
Website: MQrealesate.com
Office number: 215- 607-3535

Chapters

1. Pre-Approval: Why It's Essential (00:00:00)

2. Financial Readiness for Homebuyers (00:01:04)

3. Current Market Conditions (00:02:00)

4. Personalized Strategies for Clients (00:03:14)

5. Podcast Preview and Sign-off (00:05:20)