The first time you buy a home the whole process can be intimidating to say the least.  Working with a Realtor and a mortgage broker can help clear up some of the confusion surrounding a real estate transaction.  Here are some tips for the first time home buyer to make the process a lot easier for you.

What are Your Goals

The first thing that a realtor is going to ask you about is your long term goals and why you want to buy a House.  Is it an investment, you want to stop paying someone else’s mortgage and start paying your own.  Do you want to start a family and need more room?  Or are you looking for an investment property to help you build wealth.  Understand your reasons before you start looking at houses.

Finding the Right House

This is hands down the most difficult part of the whole home buying process.  In a competitive market it is even worse.  Be prepared to look at a fair number of houses you don’t like and make offers that won’t be accepted.  Have patience and try not to get too frustrated.  Working with a realtor can help ease the process a great deal.

Get Pre-Approved

There are dozens of different options for financing a home, even if you have less than stellar credit.  There are government programs that you may qualify for that won’t make you put down 20%.  Some states also have their own incentives to help first time buyers get into their first home.  You should speak with a mortgage broker who can find the right programs and get you preapproved before you start shopping, it will give you a budget to work with.

Putting in an Offer

Once you have found a house in your price range that you like it is time to put in the offer.  Again a realtor can help you put together an offer along with the conditions that should accompany your offer.  Some offers can include conditions like the seller pays the closing, or that it is conditional upon a home inspection.  The seller can accept, reject or make a counter offer. This is all part of the negotiation process until you either reach a deal or you start looking for another house.

A realtor can help you find a home in the neighborhood that you want to live in and at a price that works with your pre-approved mortgage.  They will walk you through the entire purchasing process until you finally arrive at your new home with your moving boxes.  Buying a house is a ton of confusing paperwork and having someone help you work your way through all of that can make buying a house a pleasure.