HUD Articles

Buying a house can be stressful...especially if it is your first home buying experience. However, you do not need to be overwhelmed if you are properly prepared. Many people struggle with such a major pruchase. This article is here to help you gain more knowledge and help you on your journey to finding the perfect home. Here are a few tips:

SAVE YOUR MONEY - When you are first thinking about purchasing a home, many individuals will start to consider what they want their home to look like, How many bedrooms and baths, etc. But the absolutely first thing any buyer must do is save their money! Buying a home is one of the most expensive purchases the average person will do in their lifetime. Putting aside money is cruitial. Choosing to eat in one extra night a week vs. going out or having a "staycation" instead of spending on a lavish trip. Every dollar saved helps. The money you put away can be used for a down payment, movers, household repairs, closing costs, and much more. Save as much as you can.

KNOW WHAT YOU CAN AFFORD - As a home buyer, it is important that you know exactly where you money is going and what you can afford. Living beyond your means can be devastating in the long run. If you do not have the amount of cash to purchase a home, then you will most likely need to get pre-qualified for a home loan. Lenders will looks at your credit as well as your bank accounts. They will let you know exactly where your comfort zone is. This ties into saving your money. High credit debt and low credit scores can affect ther type of home loan you get. So keep a tight grasp on your finances.

DECIDE WHATS BEST FOR YOU - Now that you have your finances in order, here comes the fun part:  actually deciding where you want to live. This involves finding your realtor and letting them help you in your search. Research the neighborhoods, go to open houses, schedule showings of any and all homes you might be interested in within your budget. Finding the perfect home doesn't have to be stressfull as long as your are prepared. A good rule of thumb is to have a pro and con list. Determine the things that are "must haves" and items that aren't important to you. Once you walk into the right home, you'll know it.

I hope this article has helped you understand a little bit more about the home buyer process. Take these tips we have given you and apply them.