First-time home buyers: 5 steps that will make you ready for your first home.

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Have low mortgage rates, a growing economy and rising home values left you thinking about buying your first house but you’re not quite sure where to start and what’s involved? If so, check out these 5 no-nonsense steps for buying your first house this year:

First House - Rear view of a loving couple walking towards their two-story first home.

Step No. 1: Determine If You’re Ready for Your First House

Homeownership means being ready to take on maintenance responsibilities previously managed by landlords or associations such as leaks, chipped tile and yard maintenance. If you feel you’re ready, take a hard look at your finances and savings to determine whether now is the right time financially for you to buy your first house.

Tip: We invite you to attend one of our First-Time Home Financing Seminars to learn what’s involved in buying your first home and get the answers to all of your questions.

First House- Group of young adults sitting at a seminar. A young man with a beard and glasses is raising is hand.

Step No. 2: Get Pre-Approved

Before beginning the search for your first house get pre-approved for a mortgage loan. You’ll find out how much home you can afford and show sellers you’re serious about buying their home – giving you negotiating power.

Step No. 3: Find a Local Expert 

Finding the right real estate agent is crucial when buying your first house. Select an agent who has experience working with first-time home buyers and who is knowledgeable in the neighborhood you hope to call home. A good agent will work with you to find a home that fits your budget and checks off items on your must-have list.

Tip: Not sure where to begin looking for a local expert? We can help by connecting you with one of our preferred real estate agents who have been selected for their expertise in the communities they serve.

First House- A real estate agent is showing a young family a two-story home.

Step No. 4: Use Your Imagination

Look for a home with good bones, a floor plan you can live with and most importantly one that fits within your budget. Don’t let garish-colored walls, outdated flooring or an unfinished basement leave a bad impression. Simply, look past style flaws because walls can be painted, floors resurfaced and basements turned into beautiful entertainment niches with a little planning, budgeting and elbow grease.

Step No. 5: Calculate the Costs Before Signing On the Dotted Line

Before making an offer sit down with your agent and start adding up the costs like estimated mortgage payment, homeowners insurance, association dues, private mortgage insurance, property taxes, etc. to discover the real cost of owning that particular home.

First House - A young woman is signing loan documents while her husband and a home loan expert look on.

Are you ready to get started? Schedule a free Home Loan Consultation to talk about your plans with one of our non-commissioned home loan experts who will meet with you, in person or over the phone. During your free consultation, they’ll help you find the right loan for financing your first house and introduce you to free home buying tools and resources – no pressure, no obligation.

Do you have any tips for first-time home buyers? If so, please share below:


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