It isn't easy to buy a new home whether you have done it before or not. That said, a bit of knowledge truly goes a long way to help you get your dream home easily and without too much work. Planning is the best way to get the job done, and the steps below will help you figure out just what you need to do.
Start by creating a budget which is all-encompassing. Include your car payments, the cost of the classes your children attend, the dog's vet bills, the money you spend on coffee every morning - literally every penny spent. In the end, you will be able to figure out how much you are paying now for your lodgings, all of which can go towards the cost of your new home. Next, you can see how much extra money you have on hand which can pay for moving costs, such as renting a truck, buying new furniture, paint, draperies, and all of the other incidentals which come up.
Now that you know how much money you will have each month to pay your mortgage, go to a financial institution to find out how much of a loan you can be pre-approved for. This will give you an idea of what the maximum you can pay for a home will be. Remember that your down payment cannot come from this loan, so you must have some money saved up in cash to be able to pay that. Of course, the maximum loan is not what you want to buy a house for, so figure out what range you would feel comfortable with borrowing.
Now that you know how much you can spend, you need to find a home within that range. Contact a realtor for help! They know exactly how to locate houses which fit your needs, from the number of bedrooms to proximity to a good school. They have all the resources you might require, including access to home listings, knowledge of websites with information on the areas you want to move to, and even a drive to look at the houses if you don't have a car available.
Once you start looking at homes, ask your realtor questions. Ask about what you should be looking for, both good and bad. Ask if the homes they are showing you are sold by people they represent or not. Ask about the neighborhood and how you can find out more about the area.
When you choose a home you want to buy, have an inspection completed. From expensive repairs such as a leaky old roof to insurmountable problems like a crumbling foundation, you have to know what is wrong before you make an offer. In fact, problems which are costly to fix can help you negotiate your price down significantly.
Once you take all of these steps, you will be well on your way to buying the home of your dreams. This will leave you completely satisfied with the home buying process. In the end, you'll have an amazing place to live and an investment which will bring you many years of joy.