Feel like you’re pulling your hair out trying to get it together enough to buy a home? As a first time home buyer you can keep your hair! You can buy a home and do it stress free with our tips! A little bit of planning will go a long way so don’t let yourself get stressed finding the right house or worrying about how you are going to pay the mortgage. Here are some things to think about on your trek to buying a house.

1. First you must understand how important it is for your financial future to stop throwing your money away on rent every month and start building equity in your new home! Though renting may be easy and in some cases a good thing, (especially if it is short term while going to school or after just having moved into a new area,) it is not the way to financial freedom. Buying a home allows you to lock into the price of a home and if you stay in your house long enough, you have the possibility of owning your home free and clear… that means no mortgage payment!!!

2. Once you understand the importance of buying now, consider how you will budget for your new home. You typically are allowed to put 28% of your before tax income towards your mortgage. Decide where your money will be going once you are paying for your new house.

3. You’ll need to decide whether you want to buy a brand new home or an older home that may require some repairs. Your decision may be based on economics but keep in mind that repairs to an older home can add up quickly!

4. Keep in mind your needs when searching for a home. For example, if you have children, you probably don’t want a home that has a non enclosed pool area. If you plan on starting a family in the near future, may want to consider the extra room you will want and desperately need.

5. Whichever home you buy, you will incur added expenses as a homeowner. Things you weren’t responsible for as a renter such as property taxes or unexpected repairs may seem like an unwanted burden at first, but once you realize that every dime you put into your house is yours, you won’t feel nearly as bad!

6. Besides the money issues, a new home can add a lot of responsibilities to ones list. As a homeowner, you will be the one responsible for the maintenance and upkeep of your home. You won’t be able to call up the landlord if something goes wrong because YOU are the landlord.

7. Making the right connections is crucial to a pleasant home buying experience. Use all of your resources to find the right Realtor and Lender. A few questions now will keep everyone happy and you’ll be able to pass on your recommendations rather than your horror stories.

8. Last but not least, plan an organized move. Nothing is worse than moving a mess around. Plan in advance so you don’t have to sort out your things at your new house. Invite friends and relatives to help pack the moving van or call a moving company well in advance.

Buying your first house should be a pleasant experience, just take your time, ask questions and start planning your next move!

Ready to Become A Home Owner? Let First Time Home Buyer Loans help you with the first step of getting approved! We provide services in all states for first time home buyers and we have special finance loan officers if you have current credit problems.

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