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First-time Home Buying

First-time home buyer's guide.

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Buying a home is a big deal.

Too often, I think people rush into home ownership because it’s seen as a sign of adulthood and financial responsibility.

But owning a home is a big commitment, it’s not a guaranteed good investment, and it’s a truckload of work. (I’ve been a homeowner for only two years and I already have a growing list of things to do and contractors to call…it’s not always the creative paradise remodeling shows make it out to be).

And last but not least, believe me, lots of people own homes and yet their finances are a mess! Home ownership can be a smart long-term move, but you want to know what you’re getting into.

With that said, I know that if you’re reading this, you’re probably going to buy a house anyway. That’s fine; I did too. So here I’ve  put together a first time home buying guide to wrap up our best advice over the last few years in once place. Enjoy!

Preparing to Buy a Home

Don’t buy a home just because everybody’s doing it (they’re not) or because your Uncle Joe told you that it’s stupid to “throw money away” on rent (he’s wrong, too). Don’t buy a home because it’s a buyer’s market (which it is) or just because mortgage rates are so good (they are). Buy a home because you want to be a homeowner. Buy a home because you’re settling down. And only buy a home if you’re financially ready.

Paying for Your First Home

For most of us, our home is the most expensive thing we’ll ever buy. And for most of us, we need one big loan to do it. It’s called a mortgage, and as all the recent foreclosures should tell us, it’s not something to take lightly. To pay for our first home, we’ll need good credit, a steady job, and a sizable chunk of cash for a down payment. Navigating the waters of home financing isn’t always easy, but these articles can help guide you.

Calculators

Articles

Resources

Shopping for Your First Home

In a perfect world, you would commit to buying a home and get mortgage pre-approval before stepping foot into your first open house. Obviously, it may be you didn’t realize you wanted to own a home until you see your dream home. Either way, shopping for a home can be a long and taxing experience.

Shopping Resources

Sealing the Deal

And, that’s a wrap! Our first time home buying guide. Hope it’s useful. Do let us know what you think and if there are any topics you’d like to see us cover in the future! Happy home buying!

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