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