subject: Finding The Perfect Home For First Time Buyers [print this page] The housing market right now is hanging out somewhere in the basement. In other words, houses are cheaper now than they have been in a long time. This bodes poorly for people looking to sell their house or condo. It's a blessing, though, for first-time home buyers or people looking to buy a new home. Right now you can get houses for far less than what they would actually worth in a better economic state.
Buying a home for the first time intimidates many people, to say the least. Having never gone through the whole process before, it can be hard to know exactly what to expect when buying a home. Applying for a loan and putting an offer in often sound pretty complicated. Breathe easy, because it's not actually all that bad.
The first thing you must do in your home buying adventure is to get your hands on a good realtor. This person can guide you through the maze and set your soul at rest, at least somewhat. You can also have a much better chance of finding the house you want at the right price. Your realtor has quick and easy access to all the homes for sale in the areas you are looking to buy. This not only allows you to look at homes you probably would be unable to find on your own, it saves a whole lot of time too.
Another good idea is to look into prequalifying for a home loan. Discuss with your bank the steps you need to take to get a home loan through them. Then research other mortgage companies and check out their rates. You are not obligated to take a home loan from your bank just because you generally do business with them.
Next is to have a professional inspector come out and inspect the home(s) you are interested in purchasing. It can save you from investing in a money pit that may harbor unforeseen foundation or roof damage, plumbing disasters or any other such horror unseen by the naked eye on a cursory walk through.
Normally your realtor can help you choose an inspector as he deals with this on a regular basis. The inspectors are apt to be knowledgeable as to which houses are likely to cause problems and which are not. A realtor will also assist you in putting in an offer. When you have finally found that dream house, your realtor will help close the deal so you can get onto the fun stuff.
Do not let first time home buying intimidate you. Get started on the right path and home buying becomes a structured process. Buying your first home doesn't have to be a stressful ordeal. Get yourself a reputable knowledgeable realtor. Then enjoy your time looking at all those neat unoccupied houses just waiting for someone like you to move in. Look at as many as you wish and there are a whole lot out there for sale at bottom dollar right now. Don't to pay any attention to anyone who chooses to pressure you to buy now. You have the luxury of time. Some realtors have connections to home builders who want to build you your first home to your specifications. It is a buyers market in a down economy. Take advantage of that now before the economy heats up.
