Knowing what to do when you are a first time home buyer can be the difference between making the home buying process a stressful situation or an enjoyable success. Let’s get you prepared for the latter.

Am I ready to be a home owner?

Know whether it is a good decision to go from being a renter to a home owner by asking yourself:  

Am I prepared financially to take on the responsibilities of being a home owner?

Am I realistic about what type of house fits my needs, NOT what I think will make me look rich?

Will I be able to afford and have the means to keep my home repaired and updated?

Is my credit in order?

A few months before you start looking for your new home, pull your credit reports and address any issues – get it as clean as possible, address any inaccuracies.  

Get yourself pre-approved for a mortgage . This will save a lot of time and allow you to move quickly; imperative in the current sellers’ market.

Partnering Up with a Professional

Yes, you can find plenty of information about real estate listings on the internet. But, by partnering with a real estate agent, you will have an experienced professional looking out for your interests and someone who will be able to guide you through the bidding process.

Calculate your Costs

Sit down and calculate the following: closing costs , down payment , other fees . Being an educated buyer will put you in the best position to purchase a home that you will be able to afford now and in the future.

For more about what to do when you are a first time home owner go to Coldwell Bankers First Time Home Buyers Resource Center.