Are You a First-Time Home Buyer? Step One, Find the Right Team

For the majority of people, the first home that you purchase is your biggest and most important investment. Many first time home buyers have not learned how the home buying process works. Here are some pointers to get you started off on the right foot.

Admit your ignorance and get some first-class help. First and foremost, you need to find a reputable real estate agent which you can trust. Remember, you are the buyer and the seller pays all of the commissions. To put that another way, it will not cost you one penny to get professional help.

Shop around for the right agent, rather than going with the first one you talk to. If at all feasible, steer clear of friends or family members who do real estate as a side job or for part time income. Remember, that the process is like hiring someone to do a job for you. You'll want to know if the agent specializes, what areas he or she is most familiar with, and whether or not he or she has good references. Call former clients and ask them if they are really happy with the service they received. After you select someone, go ahead and listen to the suggestions that he or she offers you.

Make Plans for the Financial End of Things

The next step after finding an agent is to go to a mortgage lender. You'll want to ask around and find a mortgage company that you trust. Ask lots of people about their experiences, again, asking more than just family and friends. If you don't have a ton of experience in the world of mortgages, avoid getting a mortgage over the internet. Instead, use a local company where you can ask tons of questions and get every little detail explained in this complex process.

Have your lender give you precise information on what you can expect to pay on a monthly basis. There will be an abundance of very important papers to read and sign, and it is important to review them in detail with your lender. Make sure you understand every word and its purpose. If you are confused or don't understand, keep insisting on an explanation until you do understand. If someone tells you it's not important or just some form that the government requires, don't be afraid to find someone else for your mortgage.

Find the Key to Wise Home Shopping

The difficult parts of buying a home are behind you. The enjoyable part is picking out which new home is going to become yours. Your lender should have told you what you can afford, so look for for homes in that price range. Next, take the time to plan out what area you want to live in. After you have determined this, look at as many homes as you can stand to look at in that community. This will give you a great idea of what exactly is out there for sale. Look at a variety of homes. A new home comes with a warranty in most cases, but it also has a higher price tag. Older homes can be less expensive, and nearly new homes are typically a great buy as well. Keep looking at the homes you are interested in until you make a decision.

Stay involved with your purchase process. Since you have taken the time to select a great real estate agent and lender, trust the things that they tell you. Having the right people available to help makes all of the difference when looking for a home.