| For years you have been scrimping and saving, | | | | much more stress and emotion, and a much |
| preparing for that day when you could | | | | bigger payoff. If you are not sure what you |
| purchase your first house. Now, that day has | | | | should be looking for in a home, consult |
| arrived. However, now that it is here, it | | | | extensively with your realtor and friends |
| becomes evident that the process of home | | | | that own homes. Start thinking about what you |
| buying can be a little overwhelming for a | | | | need in a home. What are your requirements in |
| first time buyer. So, what to do? first of | | | | terms of rooms, location, amenities and other |
| all, don't panic and rush out and put a down | | | | such aspects? Making a list is the easiest |
| payment on the first house you see. This is | | | | way to keep track of the necessities. |
| going to be a big purchase so you will want | | | | |
| to plan your steps very carefully. | | | | 4. Get an Inspection. After finding the home |
| | | | that you can see yourself purchasing, have |
| 1. Get your credit sorted out. Having a good | | | | the home inspected. This is a huge step that |
| handle on your finances will only make this | | | | must be observed. Most people include a |
| process easier. It's great that you have a | | | | subject on the purchase contract that the |
| down payment set aside, but have you secured | | | | home must pass an inspection. Never skip this |
| financing yet? Having financing arranged | | | | step! There could one of many things wrong |
| before you start looking for a home is one of | | | | with the home you have chosen that the owner |
| the best moves you can make. However, having | | | | may not even know about. Inspections will |
| financing arranged before you start looking | | | | survey the plumbing & electrical systems in |
| means having the credit to get pre-approved | | | | the home as well as the roof and the |
| for a mortgage. | | | | structure itself. Anything that is amiss can |
| | | | be utilized as a bargaining point in the sale |
| 2. Get pre-approved. Being pre-approved for a | | | | of the home, or if severe enough; can simply |
| mortgage allows you to shop worry free and it | | | | be reason to walk away from that particular |
| lets you know ahead of time what you can | | | | home. |
| afford. Having your mortgage pre-approved | | | | |
| will also be an attractive asset to realtors | | | | 5. Close. Assuming that everything has gone |
| and home owners as it shows them that you are | | | | according to plan you should now merely be |
| a serious customer. | | | | concerned with your possession date. The home |
| | | | passed inspection, your offer was accepted, |
| 3. Be Choosy. This will likely be one of the | | | | and the deal closed. Congratulations! You |
| more difficult steps. Buying a home is allot | | | | have bought your first home! |
| like looking for a rental property but with | | | | |