Thinking about buying your first home in Redmond? You are not alone. With major employers close by and a lively downtown, homes can move quickly and the process can feel intense. You can do this with a clear plan, a strong team, and a step-by-step roadmap tailored to the Eastside. In this guide, you will learn how to prepare, what to expect at each stage, and how to make confident choices in Redmond. Let’s dive in.
Why Redmond stands out for first-time buyers
Redmond’s job base, including Microsoft and other tech firms, keeps demand high. That can mean shorter time on market and more competition. Many buyers focus on areas like Downtown Redmond and Overlake for walkability and commute access.
Key commute routes include SR-520, SR-202, and I-405. Transit options continue to evolve, so it helps to review current and upcoming service through Sound Transit and King County Metro. If a short commute is your priority, these routes can guide your search.
Neighborhoods vary by housing type. Condos and townhomes cluster near transit corridors and commercial hubs. Single-family homes tend to be farther from the center and offer more space. For local plans, parks, and civic resources, explore the City of Redmond.
On the Eastside, “fast-paced” often means multiple offers and tight timelines. Your strategy should balance competitiveness with smart protections, so you do not give up essential due diligence.
Your step-by-step roadmap
1) Get pre-approved
Pre-approval shows sellers you are serious and clarifies your budget. In a competitive market, consider a written pre-approval or a pre-underwritten approval where a lender has reviewed income, assets, and credit. This can strengthen your offer.
Common loan types for first-time buyers include conventional with PMI, FHA, and VA if you are eligible. If you need help with your down payment, look into the Washington State Housing Finance Commission for education and assistance programs. Pre-approval typically takes a few days to 2 weeks, depending on your documents.
2) Define your search
Decide on your non-negotiables. Property type, commute time along SR-520 or I-405, and proximity to parks or amenities are common priorities. If schools are important to you, note that much of Redmond is served by the Lake Washington School District. Confirm boundaries and your own criteria before you start touring.
In Redmond, new listings can get attention fast. Set alerts and plan to tour within 24 to 48 hours. A local Eastside agent can preview properties, flag off-market opportunities, and help you move quickly without rushing important decisions.
3) Tour strategically
When you tour, bring a simple checklist and compare the basics. Look at layout, natural light, storage, and signs of water intrusion. Ask about roof age, heating and cooling systems, and any recent repairs.
For older homes, consider a sewer scope due to potential aging lines. Radon testing is recommended in Washington. If the home shows signs of moisture, talk with your inspector about mold concerns. Small details now can prevent large repairs later.
4) Craft a competitive offer
Offers usually include price, earnest money, contingencies, closing date, and personal property requests. Competitive tactics used on the Eastside can include escalation clauses, larger earnest money, and shorter inspection windows. These can help your offer stand out but also add risk, so review each move with your agent.
Asking for seller-paid closing costs is less common when multiple offers are expected. In Washington, sellers commonly pay the Real Estate Excise Tax, but terms are negotiated in each transaction. For tax details, consult the Washington State Department of Revenue’s guidance on Real Estate Excise Tax. Keep your offer clean and realistic, and focus on your top priorities.
5) Inspect and do due diligence
Typical inspections include a general home inspection that covers structure, systems, and safety items. Depending on the property, you may add roof, sewer, pest, radon, and moisture inspections. Inspection timelines are often 7 to 10 days, though they can be shorter in competitive situations.
If you are buying a condo, take extra time to review HOA documents, financials, and reserve studies. You want to understand the building’s health, any past or pending special assessments, and how rules may affect your future plans.
6) Appraisal and underwriting
If you are using a mortgage, your lender will order an appraisal. In faster markets, appraisal shortfalls can occur if recent comparable sales lag behind rising prices. If that happens, you may renegotiate, add cash to cover a gap, or re-evaluate your terms.
Underwriting verifies your income, assets, title, and appraisal. From offer acceptance to loan clear-to-close, plan for about 2 to 5 weeks, depending on lender capacity and documentation.
7) Close and move in
Most Redmond transactions close in about 30 to 45 days, though this can be faster or slower based on your terms. Your closing costs generally include lender fees, title and escrow fees, and prorated taxes. As a rule of thumb, buyers can expect around 2 to 5 percent of the purchase price in closing costs, but your lender can give you a specific estimate.
Before closing day, complete your final walk-through, confirm wire instructions with escrow, and set up utilities. When the deed records with the county, you get the keys and can schedule your move.
Condo vs. single-family in Redmond
Condos are common near Overlake, Downtown Redmond, and transit. They often offer lower-maintenance living and better access to commuting routes. Monthly HOA dues cover shared expenses and may include certain utilities or insurance.
Single-family homes usually offer more space and yard, but maintenance and property taxes can be higher than for condos. If you want a private outdoor area or room to grow, a single-family house might fit your needs. Weigh long-term costs, commute, and lifestyle when choosing.
Condo due diligence checklist
- CC&Rs, bylaws, rules and regulations
- Most recent budget and reserve study
- Board meeting minutes from the past 6 to 12 months
- Insurance declarations and master policy
- Special assessments from the last 3 to 5 years and any pending litigation
- Owner-occupancy and rental restrictions
- HOA and management company contact information
Single-family considerations
- Inspect for drainage and water management around the lot
- Review roof, foundation, and major systems for age and condition
- Confirm sewer or septic status and scope if needed
- Budget for exterior upkeep, landscaping, and larger repairs
Budgeting and assistance
Make a simple budget that includes your down payment, closing costs, and ongoing expenses. Earnest money is often 1 to 3 percent of the purchase price and is held in escrow. Down payments vary by loan type, and some programs allow as little as 3 to 3.5 percent for eligible buyers.
Closing costs typically include lender, title, and escrow fees, recording, and prorated taxes. For property tax information, visit the King County Assessor. If you are new to financing, take a first-time buyer class and research down payment assistance through the Washington State Housing Finance Commission. Programs and limits change over time, so apply early and confirm your eligibility.
Commute and transit planning
Your commute may shape your search as much as price and property type. Map your route along SR-520 or I-405 and compare options near transit hubs. Check service updates and project timelines through Sound Transit and King County Metro. If you plan to bike or walk, review city maps and neighborhood amenities through the City of Redmond.
Example timeline: offer to keys in 30–45 days
- Days 0–2: Offer accepted; deposit earnest money; schedule inspections
- Days 2–10: Complete inspections; review condo HOA docs if applicable; negotiate repairs
- Days 7–14: Lender orders appraisal; you deliver any final documents
- Days 14–28: Appraisal returns; underwriting reviews conditions; clear-to-close issued
- Days 28–45: Final walk-through; sign closing documents; recording and keys
Timelines can shift based on lender speed, appraisal scheduling, and negotiated terms. Build in a small cushion if you need to coordinate a lease end or movers.
Quick-start checklist for Redmond first-timers
- Get a written pre-approval that shows your loan amount and any conditions
- Pick three non-negotiables: price ceiling, commute time, and property type
- Set alerts and be ready to tour new listings within 24 to 48 hours
- If considering condos, review HOA health and project financing eligibility early
- Budget for earnest money, closing costs, and a potential appraisal gap
- Keep your documents ready for your lender to prevent delays
How FIRST AND MAIN helps
As a boutique Pacific Northwest brokerage, FIRST AND MAIN offers high-touch buyer representation across the Eastside and Snohomish County. You get local guidance on neighborhoods like Overlake and Downtown Redmond, plus a transaction concierge to keep each step organized and stress-light. We balance offer strategy with careful due diligence, so you stay competitive while protecting your long-term interests.
When you are ready to start, connect with FIRST AND MAIN. We will help you define your plan, tour smart, and move with confidence in Redmond.
Resources
- City of Redmond for neighborhood plans, permits, and local services
- King County Assessor for property tax assessments and records
- Washington State Department of Revenue: REET for Real Estate Excise Tax details
- Washington State Housing Finance Commission for first-time buyer programs and classes
- Sound Transit for regional routes and project updates
- King County Metro for bus schedules and commute planning
FAQs
What are typical buyer closing costs in Redmond?
- Buyers commonly pay about 2 to 5 percent of the purchase price in closing costs, including lender, title, and escrow fees, plus prorated taxes; your lender will provide a loan estimate for your specific scenario.
How fast do Redmond homes sell and how should I prepare?
- The Eastside moves quickly, so get pre-approved first, set alerts, and be ready to tour within 24 to 48 hours of new listings to make timely, informed decisions.
Are condos easier to buy than single-family homes in Redmond?
- Condos may offer lower entry price and lower maintenance, but include HOA dues and rules; single-family homes offer more space and control but higher upkeep, so weigh costs and lifestyle.
What if my appraisal comes in low on a Redmond purchase?
- You can renegotiate with the seller, add cash to bridge the gap, or adjust terms; lenders cannot finance above the appraised value.
Who pays Washington’s Real Estate Excise Tax when I buy?
- In Washington, sellers commonly pay REET, though final terms are negotiated; for details on the tax, review the Department of Revenue’s guidance on Real Estate Excise Tax.
