The First Time Buyer

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 yoursure what you should be looking for in a home,
first house. Now, that day has arrived. However, nowconsult extensively with your realtor and friends that
that it is here, it becomes evident that the processown homes. Start thinking about what you need in a
of home buying can be a little overwhelming for ahome. What are your requirements in terms of
first time buyer. So, what to do? first of all, don'trooms, location, amenities and other such aspects?
panic and rush out and put a down payment on theMaking a list is the easiest way to keep track of the
first house you see. This is going to be a bignecessities.
purchase so you will want to plan your steps very4. 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 handleinspected. 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 financingNever skip this step! There could one of many things
arranged before you start looking for a home is onewrong with the home you have chosen that the
of the best moves you can make. However, havingowner may not even know about. Inspections will
financing arranged before you start looking meanssurvey the plumbing & electrical systems in the home
having the credit to get pre-approved for aas 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 athe sale of the home, or if severe enough; can
mortgage allows you to shop worry free and it letssimply 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 an5. Close. Assuming that everything has gone
attractive asset to realtors and home owners as itaccording 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 morepassed inspection, your offer was accepted, and the
difficult steps. Buying a home is allot like looking for adeal closed. Congratulations! You have bought your
rental property but with much more stress andfirst home!