Buying your first home can be very exciting, daunting, frustrating, disappointing in addition to every other emotion within the human psyche. One of the most important things you can do to get ready to be a home owner is to understand the basic process so there are no surprises. There is nothing worse than having your dreams of a new home shattered by improper expectations. Buying a home can be easy and enjoyable if you set yourself up for success.
1) Contact a Realtor. There are a lot of real estate agents out there, but what you’re looking for is a Realtor that specializes in working with buyers. A Realtor is different than a real estate agent in that they have certain guidelines and codes of ethics that may not apply to just real estate agents. You may not want to call the listing agent for a property you’re interested in. Remember that they have the seller’s interest in mind, not yours.
2) Speak to a Lender. One big rookie mistake for first time home buyer’s is to start their search without knowing how much they can spend. Get in touch with a reputable loan officer that has access to a direct underwriter. Make sure they understand what you’re comfortable spending and adjust your purchase price accordingly.
