Buying a home for the first time can be an amazing experience. You will run through a vast amount of emotions when you finally begin this process. You will become excited as you find the home you have dreamed of and other portions of the process will make you nervous, sad, jittery, and at some point you will feel unexplainable joy.

For many people buying a home for the first time is the largest form of investment that we have ever made. Unfortunately the emotions that are involved in this process can often cloud our own judgment and we simply cannot allow this to happen for that is when we make mistakes.

The majority of people that are planning to buy a home have a small portion of money set aside for the down payment. This money is what you have saved for possibly years and you want to make the best decision available so you do not waste your money or end up with something that you don’t want.

As a first time buyer you need to make sure that you do plenty of research. This is un-chartered territory for you and you need to be sure that you are making the right choices. Unfortunately many people make common mistakes that cost them plenty of time, frustration, and money that could have been avoided with the proper research. Hopefully this article will help to see that you have a positive first time buying experience.

Occasionally people will read these articles and have questions that come to mind because of what they have read. If this is the case, I encourage you to call on me by whatever means you prefer and I will do my best to answer your questions free of charge. I want to be able to help if I can as I find the most enjoying part of my work is helping make a family’s dreams come true.

Keep in mind your real estate agent is working for you. If you hire someone and you feel they are not helping you make sound decisions or are not what you are looking for then you can always get someone else to replace them. Never assume they are out to do you a favor, you should be able to ask them anything you need to in order to set your mind at ease.

These things are all things that your agent should include in advice to you when you are seeking out new homes.

Tip #1 Always Inspect Everything

Inspect everything before making a final purchase. You should go over the inspection reports with a fine tooth comb. First you want to make sure that the report was finished by a professional organization. If you are planning to purchase a condominium you will want to go over your CC&R, any by-laws, and the association fees. Never assume that anything is the way it should be and never take anything for granted. Inspect everything first to make sure that you will not pay for it later.

Tip #2 Imagination is Key

When you go into a fully furnished home that has beautiful furniture you have to remember that it’s someone else’s furniture. It won’t be staying in the house. The best thing you can do is envision the house empty or with your own furniture.

Tip #3 You need to think three things: Income, Lifestyle, Mortgage Payment

You should sit down with your real estate agent from day one and explain to him or her about your honest expectations. Explain your actual income and your living expenses. You should also consider any extra considerations that may come into play and any children’s needs or fix up costs for your new home. Your dream home will be worth every penny, but you shouldn’t spend every penny in order to live out your dream.

Tip #4 View Plenty of Homes

Never assume that you need to pick the first home you see. In fact I normally recommend that a new buyer see at least 8-10 homes. You should see enough homes to grasp a decent idea of how the market is working and to be able to find the right property for you.

Tip #5 Surround yourself with the right people

If you are surrounded by the people that can help you then you will ultimately have an easier time with your experience. You should have a team of dedicated real estate professionals that are there for you to see that your dreams are their priority. Each professional you have working for you should consider your ultimate needs and see that each choice made is the best for you.

Tip #6 Investigate everything before you sign

You should check everything before you sign. Look over every piece of paper work. Check the costs and any associated expenses. Make sure that all the utilities are on when you are going through the house so that you can see that everything is in working order. You should also feel free to ask as many questions as you need to in order to know you are making the right decision.

Tip #7 Take advantage of the final walk through

Once everything has been removed from the home you should take an opportunity to go through and make sure everything is as it should be. If the owner’s agreed to leave anything behind you should make sure that everything is there and everything is in working order. You want to be positive that the property looks exactly as it was stated in the contracts. There are many things that could be spotted in the walk through that you may miss otherwise.

Tip #8 Plan for a flexible timeline

Many things in real estate are not set in stone. You will find that closing dates can and will change. You should allow for a backup plan if needed because sometimes things will happen. If you or the sellers need more time to complete the final arrangements you should not let these things frustrate you. These circumstances are not at all uncommon in real estate.

Tip #9 Make sure you have everything in writing

Never assume that anything is legal unless you have it in writing. All promises and expectations should be in writing. Never except any assurances at face value. If the sellers are legitimate they will understand and accept your need to have things in writing. Have your professional agent keep a log that contains discussions and get signatures to assure that everything in the log is correct to avoid any misunderstandings.

Tip #10 Always remember honesty is the best policy

Be honest with all the members of your team. You don’t need the common headaches that could be involved with dishonesty. The best thing you can do for yourself is take the time to choose the right people. Making sure you have the right team will guarantee a safe and successful buying experience.

How do you decide what price to offer?

The price of any home is where the biggest battlefields in real estate will occur. On one side you have the seller who is strong and determined to get the most money that is available to him. On the other hand you have the buyer who is also bound and determined, though his determination is focused on saving every single penny he can!

This means that the seller will think nearly every offer is too low and the buyer will automatically assume that the price is too high. Unfortunately there is more than these two hurdles to overcome, you still have market trends and price increases or drops at will to deal with.