Buying your first home is an exciting time in your life!  Since it is one of the largest purchases you will make, it can also be a stressful time!  The key is to understand the process and be prepared.  Here are 10 tips for buying your first home.

10 First Time Home Buyer Tips

  1. Reach out to a Realtor.  A local Realtor can help you get a game plan together for getting you into a home.  A Realtor can also be a great source of information and tools.
  2. Get Pre-Qualified ASAP!  It's important to know how much you can afford and what type of loan programs are available to you.  Speak to a lender about what you need to do to qualify to purchase a house.
  3. Be realistic.  Look at your total expenses to determine a house payment you feel comfortable with.  Don't forget to include real estate taxes, homeowner's insurance and HOA fees when setting up a budget for a new house.
  4. Create a wish list.  Determine what you are looking for in a house.  Make a list of needs or must-haves as well as your wants.  You may need to compromise so make sure you know what features are most important to you. 
  5. Keep an eye on the market.  A Realtor can set you up with a market report to keep you informed about where housing values are headed, how long properties are staying on the market and more.
  6. Keep an eye on the houses that are listed.  A Realtor can also make sure you receive all the new listings to your inbox.
  7. Save as much money as you can.  While you are getting ready to purchase a home, be frugal and cut your expenses.  Not only will you need the money for your down payment and closing costs, there will also be other fees involved in buying a home such as a home inspection fee.  
  8. Know what your expenses are going to be.  Ask a Realtor to provide you with the customary closing costs so you know how much it will cost you to purchase a home.
  9. Choose an area.  Start checking out different areas to live in.  Drive through the community at different times of the day.
  10. Learn the home buying process.  A Realtor can go over the steps it takes to purchase and close on a new home.  Knowing what comes next at each step helps make the process easier.

Don't hesitate to contact us for more information abut the home buying process and homes currently on the market.