Buying a home can be overwhelming, but if you prepare yourself, your first transaction can go quite smoothly.


First-time home buyers are normally very anxious about being rejected for a home loan.  Pre-approval can lessen the stress of this process and give you advantages over other offers on a home.  Your loan already being pre-approved makes it more attractive to a seller because it shortens the process and there is less likelihood that you will back out of the purchase.


First-time buyers can be overwhelmed by the costs of owning a home.  Real Estate professionals can help you calculate how much you should be able to pay each month in mortgage payments, and, from there, what homes would be feasible for you.  Use our handy mortgage calculator to get an approximate monthly payment.


Down payments vary according to the home value and the mortgage lender.  In some cases, first-time home-buyers can put no money down on the purchase of a home.  It varies from state to state, but, in some cases, there are government programs that assist first-time buyers with no-money-down purchases.  Your McBride & Co. Real Estate agent will be able to explain the different options available to you.


When making an offer on a home, first-time buyers tend to forget about closing costs.  It is not unusual to pay closing costs of up to 10 percent of the sale price of the home.  That, added to the down payment, leaves you with quite a sum of money to raise before you can sign closing papers.  With professional help, this cost can be estimated in advance and can be considered before making an offer.


Before making an offer, it is necessary to view different homes in the area to pinpoint exactly what area you want to be in and get a feel for the market.  When you find a home you like, make sure you get any questions you may have answered before you make an offer.  Even though you should take your time with this important financial decision, it is a tricky situation.  The longer you wait, the more chance there is for another buyer to make an offer on the same house, putting you in a bidding war, and possibly missing out.


A “fixer-upper” home can sometimes have hidden repairs and is often not worth what the seller is asking for it.  If you are planning to spend money on fixing up a home, it is a good idea to hire a home inspector before making any offers, in order to protect your investment.  This way, you know what will be needed, and the price can be adjusted accordingly.

Remember, ask as many questions as you need to make sure you are completely comfortable throughout the buying process.