Attention First Home Buyers!

"Buying a home is a big step for most people, which is understandable. It will likely be the largest purchase you have ever made. Because there is so much involved in purchasing a home, it makes sense to try and prepare as best you can for the experience. The better prepared you are, the smoother the process will be and the better you will be able to weather any unexpected hurdles you run into along the way.

That being said here are six excellent tips for making the home
buying process easier.

1. Get your finances in order

The first thing anyone buying a home needs to do is make sure that his or her finances are in order. If you are like most buyers, you will be approaching lenders for a mortgage, and you can expect those lenders to want alot of information from you – proof that lending to you is a smart business decision.

Your mortgage, and how much you pay in interest, will hinge on
your credit score. It is extremely important to boost your score as much as you
can if you want to save thousands, possibly tens of thousands, of dollars on
your mortgage.

You should request a credit report from a major credit
report company to get a clear picture of your status-

2. Get pre-approved by a lender

You need to know how much you can spend on a house before you
start shopping. The best way to determine your budge is to get pre-approval
from a lender. It is a good idea to shop around for your mortgage, as you may
get better results from one lender than another. They will be looking at your
credit and your income to determine what you can borrow.

Keep in mind that pre approval is not a approval. If your credit
status or employment status changes in a negative way between the time you are
pre-approved and when you actually try and buy a house, you may not be able to
get the loan on the same terms, or at all. As soon as you are pre-approved, it
is advisable that you get started shopping for the home.

3. Find a great real estate agent

There is no law requiring that you hire a real estate agent to
buy a house. But if you want to get the best deal for your home, and find a
home that really works for your needs, a realtor can be extremely helpful.
Finding a great Realtor is a process that will require some effort on your
part, but it is worth it. Interview at least three or four different agents to
find someone that you feel comfortable with. Here is a website I suggest you
check out in order to find the best possible agent in your area-

Ask important questions, including:

• How many homes have you sold in the last year?

• How close was the negotiated sale price compared to the sellers asking price?

• Do you have any recent references – clients I could talk to?

• How familiar are you with local schools and neighborhoods in
the area?

These questions should give you a better understanding if you
are working with a rookie or a top local professional.

4. Get your timing down, for when your lease will end

You don’t want to be without a place to live, so you need to buy a house and close on it before you lease ends – but hopefully not too early.

There is no need to pay any more rent money than you have to. Discuss the
timing of your home purchase with your real estate agent. He or she can give
you a good estimate on when you should start shopping and how long you can
expect to wait for the sale to finalize so you can move.

5. Target areas and neighborhoods you like

This is another area where your real estate agent can prove
invaluable. A good realtor will be informed on all the neighborhoods in the
area where you want to buy a home. You can explain your goals and dreams, what
you want out of your new home, to your agent. Then he or she can direct you
towards areas that will work with your budget and your lifestyle needs.

6. Have clear goals

Knowing what you want before you start shopping is important if
you want to save time and be satisfied with your purchase. Take some time to
write down all the things you want out of a home and bring this list to your
agent. He or she can go over the list with you while keeping your budget in
mind, and help you clarify what things are the most important.

Buying a home is often about making compromises. When you know
what is most important, you can look for homes that have those qualities. Who
knows, you may find one that has everything you could ask for. But if you
don’t, you will at least have a home that works for you and your needs."

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