5 Tips for First Time Homebuyers

First time homebuyers can be extremely overwhelmed by the home buying process. Below are 5 tips for you to keep in mind when deciding to buy your home for the first time.

1. Know your budget and what you are able to afford. A website called MortgageCalculator is a great source to figure what you are able to afford when calculating your budget. Don’t forget to include your other monthly expenses when considering what you are able to afford.

2. Research the area well you are thinking of moving to. Websites such as Zillow and Realtor.com are good website resources to click on as well as reputable online reviews. Many people that are thinking of starting a family are mindful of the area’s schools when considering a place to live. Great Schools - (http://www.greatschools.org/) will inform you of your area’s school rating. 

3. Contact a reputable realtor – You don’t want to leave one of the most important purchasing decisions’ in the hands of someone that doesn’t have the experience and know-how. Contact a realtor that is reputable and knows the mortgage process well. 

4. Know your credit score – Be sure you are paying your credit cards timely and not lapsing beyond their due dates to avoid financial charges. www.myfico.com is a good resource to use to find your credit score.

5. Avoid putting an offer in for the first home you see. It is very exciting when you are walking into your first possible future home, but keep in mind that you may have that same feeling in the next one as well. Take the time and go see several homes before you sign your offer.

The home buying process can be a very stressful and overwhelming time in your life and especially for first time homebuyers. Keeping in mind these 5 simple tips will ensure you a smoother home buying process.