Buying a first home is one of the most exciting events in an individual’s life. It can also be one of the most overwhelming. Here is a quick best first home buyer’s guide:
- Choose a real estate agent who specializes in guiding first time home buyers. This may go against conventional wisdom, but it’s smart to work with a real estate agent who routinely work with first time home buyers. Their expertise and experience enables them to offer direction on navigating the entire purchase process.
- Find out how much you can afford. Online calculators can give you a rough idea of your price range, but it also helps to get an official estimate. To get pre-qualified, make an appointment with a bank or mortgage broker.
- Get educated on homebuying programs in your area. Each state offers a range of assistance programs for first time home buyers in your area. Buyer programs vary greatly from state to state. The right real estate agent can be a big help in finding if there is a home buyer program for you.
- Go loan shopping. Talk to various lenders, comparing interest rates, but also costs involved in getting a loan.
- Go house hunting. Your real estate agent will be happy to help with this! He or she will be able to direct you to houses in your price range. If you have chosen a real estate agent who is familiar with the various first time home buyer’s programs in your state, you’ll only be directed to homes which meet the necessary criteria.