6 Things Every First-Time Home Buyer Must Do


As a first-time buyer, you are certain to be at least a little bit confused by everything going on around you. Buying your first house is a big process, and it is certainly not one that you want to do jump into lightly. Not sure where to start? Practice with these steps before you make a commitment.

1. Check your credit and work to give it the boost it needs.

Before you even begin looking at houses, you should work on repairing your credit. You need to have great credit to secure a mortgage with your typical down payment, so it is important to look over your credit report now to make any corrections and pay off any lingering debt.

2. Gather essential documents.

Mortgage lenders want to see specific information before giving you a loan. It is important that you have W-2 forms from the last couple years as well as several recent pay stubs. You also need bank statements for the last few months.

3. Know how much things cost.

Comparing prices is something you should do before you even visit your first open house. This allows you to better understand whether a house is worth your time before you even visit an open house.

4. Understand that you will be paying closing costs.

Closing costs are not included in the upfront costs, so many first-time buyers are caught off-guard by them. Closing costs will add a chunk of change, and the rate differs from location to location. Don't be surprised when you see this added to the total cost of the house. Instead, anticipate it ahead of time and plan for it in negotiations.

5. Create a list of needs and desires.

When you think about your dream house, you likely have a list of features you want your house to possess. Instead of clinging to this idea, it is important that you separate the list into needs and wants on paper. If you are working with a partner, make sure to make these lists separately and then come together to discuss them.

6. Don't commit until you are ready.

This is something that you need to keep in mind. If the house does not seem or feel right, it's not a good idea to buy it. Wait until you are truly read to commit to buying a house in the years to come.

Finally, don't expect that you will have to do it all on your own. A real estate agent is there to walk you through the process of buying your very first home.


5 January 2017

Choosing The Right House

When I started looking for a new house a few years ago, I realized that I had no idea what I really wanted. I knew that I wanted a place that had been updated recently, but apart from that, I was completely in the dark. After evaluating my budget and considering my options, I decided that it would be a good idea to go around with my real estate agent to help me to find a place. My agent was incredibly helpful, and I was able to narrow down my choices within a few hours. This blog is all about making the ever-important decision of becoming a homeowner.