So You Want to Buy a House in One Year


12 Months In Advance: Review your credit reports & build & enhance your credit.

11 Months In Advance: Speak with Mortgage Consultants to analyze your income/expenses/savings to figure out your price range.  How much house can you afford?

10 Months In Advance: Start to analyze your needs/neighborhood options.  Transportation to work, school district quality, & amenity needs are questions to be answered at this time.

9 Months In Advance: Check housing stock in the neighborhoods you like.  Make sure there is enough for you to choose from in your price range.

8 Months In Advance: Team up with a real estate agent that you like & trust.  Discuss market conditions (supply & demand).  Explore neighborhoods.  Create a list of your needs/wants/fatal flaws.

7 Months In Advance: Start to research other professionals: lawyers, home inspectors, and insurance brokers.

6 Months In Advance: Start to organize your paperwork.  2 years of tax returns.  Pay stubs.  Bank statements.

5 Months In Advance: Research Mortgage Consultants & choose 1 to work with.  Get a pre-approval letter.

4 Months In Advance: By now you should definitely have narrowed down your desired housing stock & be making offers.  Consider submitting offers on more than 1 house to see which sellers are most motivated.

3 Months In Advance: By now you should have an Accepted Offer with contracts in process or even already under contract.  Start to interview movers.  What other professionals will you need to move smoothly?

2 Months In Advance: Start packing.  Make sure you are fully under contract.  Keep your Mortgage Consultant focused to be sure they have everything they need to close.

1 Month In Advance: Create a contingency plan in case the closing doesn’t occur as scheduled.  Start to contact utility & other providers that you’ll need to power on as of the closing date.

By: Michael Levy

Michael F. Levy is the Principal Broker of Grand Lux Realty. Born in Sherman Oaks, CA in 1963, Michael grew up in Larchmont, NY in Westchester County. He graduated Mamaroneck High School in 1981 & earned a BS in Textile Management, Minor in German, Area Concentration in Computer Science from Clemson University in 1985. Then went to NYU School of Continuing Education receiving diplomas in Real Estate Investment Analysis & Building Construction Management.

Michael married Jodi Dee Levy in 2000 & they have raised two children in Westchester County: Julia Margit Levy & Benjamin Max Levy.

He applied his knowledge at Helmsley-Spear, Inc. in Commercial Leasing. His next job was at Lehrer McGover Bovis as a Construction Manager & Field Supervisor, participating in building 2 high-rise office buildings. He later managed a 30-room Bed & Breakfast hotel in Mammoth, CA, called The Mammoth Lodge. Then lived in Boulder, CO, building 3 homes while also working as a residential real estate agent. While in Boulder, Michael joined Keller-Williams & started the process to buy the region to develop & sell K/W franchises in the tri-state area. Ultimately owning this region would not be available to Michael so he pivoted, deciding to open his own real estate brokerage office & work to build it into a chain of brokerage offices.

In 2006, Michael & Jodi started Grand Lux Realty with no agents & no listings in their basement.

Currently, Grand Lux Realty has 3 offices in Westchester County: Chappaqua, Ardsley, & Mamaroneck & 1 office in Rockland County in Stony Point, as well as a Commercial Division. GLR has over 225 agents & is ranked in the top 5% of all the brokerage firms in the Hudson Gateway Association of Realtors for gross volume sold & rented & number of transactions over the past 10 years. GLR is looking for more agents & offers generous commission splits of 70% with incentives to earn up to 90% & doesn’t charge any fees. GLR offers the fastest no-fee route to 90% commission splits in our Board of Realtors. GLR provides a huge lead list to its’ agents for free. GLR is a friendly, family-style, non-corporate environment. If you are considering a brokerage change, please contact Michael to talk about GLR’s unique style.

By keeping a focus on continuing education, leadership proficiencies & technology, Michael & his team have grown Grand Lux Realty into a brand that agents can be proud of & use its’ resources to empower their agents, staff & community.