A first home purchase is an important step. Your two "best friends" throughout the process will be your real estate agent, and your loan officer. Working closely with them will help get you the home you're looking for, with as little turmoil as possible. Those with experience in the business will tell you that a determined buyer can find a home that suits him/her in about 2 weeks.
After conferring with you, your real estate agent will be able to select homes for your consideration that will match your specifications, and fit within your price range. An experienced agent can use long-reaching contacts to find listings and arbitrate prices.
Your loan officer will help you with the all-important decision of what type mortgage you should apply for, and then keep you abreast of what's going on during the application process. He/she will stay in contact with your real estate agent.
There are some things you need to think about - you should set yourself a budget, and stick to it. Don't forget to include home insurance, and consider utilities and maintenance expenses. Find out about the taxes you will pay on the home - City Hall can provide this information.
Where do you want to live? Consider the daily commute to and from your workplace, gas prices, or availability of public transportation. What is within walking distance? If you like the idea of being close to restaurants, museums, movies, etc., an urban area might be the kind of place to start looking for your home. If you have children, you'll want to seek out the best school districts as far as size, after school activities, sports offered, and location from the home site.
Next, what type of home are you looking for? There are so many choices here. There's the traditional single family home, or the maintenance-free condo living, or you might even consider a duplex, where you live in one space and rent out the other. If you opt for a house, there are still choices to make - one-story ranch, colonial, tri-level? How much space will you need?
What about a basement, or a fenced in yard, if say, you have a dog? Make a list of the things you really must have, add some "perks" that you'd like to have, then go house hunting.
Don't try to see it all at once. Your realtor will probably guide you through maybe 5 tours a day. Any more might cause confusion trying to remember what you saw where. While you're going through a home, your realtor will point out any flaws.
When you're making the rounds of the homes you may consider buying, bring along a camera. Take pictures of each home you visit, and tag each group of photos with the appropriate house number. Make notes - list the outstanding features, color schemes, and design aspects. Be aware of the surroundings - landscaping, traffic noises, neighboring houses or buildings, etc.
Right after you see a home, give it a rating from 1-10, don't wait till later to try to recall what you liked. Re-visit the homes that you felt good about - you will see things you may have overlooked the first time around. Your realtor will contact the sellers of the homes you have taken a serious interest in, to check if they are still on the market at the listed price.
Think of buying your own home as making an investment, both personal and financial. Use the professionals to get the information you will need to make a smart purchase.
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