First Time Home Buyers

Are you ready for homeownership? Nothing makes you feel more grown up and secure than buying your first home. Yet with all the exhilaration comes some anxiety. We'd like to allay your fears by giving you the information you need, upfront.

1. First of all, are you ready for the responsibility of owning a home?
Assess your readiness for homeownership. Do a reality check. How are you

- emotionally?
- physically?
- financially?

If you feel that you may not be ready, it's okay to wait and reassess at a later date.

2. Decide what's important in a new home.
This is a good time to figure out what size of home you'd like. Also, in which city or neighborhood you'd like to live. Decide how many bedrooms and bathrooms you need. Once you've come up with these criteria, your home search will be much easier.

3. Benefit from a Realtor's expertise.
A professional can help you with all the details involved in purchasing a home. A real estate professional has years of experience in all the requirements involved in buying a home. Because of their experience, they can make it understandable and even enjoyable. They can help you get the most for your money and make sure you're asking the right questions.

4. How much house can you afford?
One of the biggest concerns for first-time buyers is how much they can afford. There is not a simple answer; there are many factors that must be considered such as how much money you earn, how much debt you owe, what kind of mortgage is right for you, etc.

As a rule of thumb, it is suggested that the mortgage not surpass 33% of your gross income. This calculation will put you in the ballpark for the amount you can afford. Your Realtor® can help you assess your financial situation. A loan officer can pre-qualify you for a loan, which will tell you how much you're eligible to borrow.

5. Which mortgage is right for me?
With so many mortgage options, it can sometimes be a daunting task to figure out which is best for you. For more information, you can visit the U.S. Department of Housing and Urban Development's Mortgage Glossary or talk to your Realtor® and loan officer. They are a wealth of information and have the experience to give you the right answers.

6. How to start looking for your new home.
Once you've decided to buy a home and have assessed your finances, found a Realtor® and pre-qualified for a loan, you now get to have some fun! It's the time you get to start looking for your new home. So how do you do it?

By allowing your Realtor® to do the searching for you! Give them the criteria you've decided on and then let them find the homes most suitable for you. All you have to do is look at the houses they have chosen and decide which ones you like.

You can also search online through the Multiple Listing Service to see any you might be interest in. Then call your Realtor® and have them schedule a showing for you.

7. Okay, now you've found the house, what next?
Your Realtor® will help you through this entire process - through making an offer and what to do if you offer is accepted to the closing of your new home.

Buying your first home is a major accomplishment. The process can be exhilarating as well as stressful - if you let it. But following these seven steps will make it less stressful and more enjoyable. Good luck and happy house hunting.


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