How do I get started buying a house?

Question

My husband and I want to buy our first house but don't even know where to begin. What do we need to do? How do we get started? What are some things we need to know?

Answer 1

when my hubby and i wanted to start looking we contacted a good real estate agent. he put us in touch with our mortgage broker. she met with us and set up a budget so we knew what price range to start looking in!

if you know a broker you're comfortable with, you can also start there!

Answer 2

I would see a mortgage broker first to find out how much you can afford. Have them make a pre-approval letter. The letter states how much you can afford. Then I would contact a Real Estate agent. They can help you find what you are looking for in a home. Or you can drive around the neighborhoods you like and  look for a house. Then you can call the number on the sale sign to ask how much it is listed for. I prefer to look up homes on real estate web sights. Here a few to try out.

http://www.realtor.com/

http://www.trulia.com/

http://www.homes.com/

http://www.homesandland.com/

Once you find a house you like, I would get it inspected. There could be hidden damage that only a good inspector will know what to look for.

Answer 3

First thing you should do is go to a mortgage company and get pre-qualified, in other words get something in writing that says how much house you can afford. You can go to more than one mortgage company but don't let them pull your credit scores if you're just shopping around. Every time someone pulls your credit score it drops a notch.

Next thing to do is get yourself a good real estate agent. All of them have access to the same properties and the same services so, from a buyer's perspective they're all the same. Some people just drive around and call the number on the for sale signs but you'll deal with a different agent every time by doing that. That's OK. You're shopping for a real estate agent as well as a home. When you find that special agent you feel is right for you do everything through that agent from that point on. If you see a property you like, don't call the number on the sign, call your agent. An agent you are comfortable with and who is loyal to you is worth his/her weight in gold. He/she will explain everything you need to know and will hold your hand through the entire process. He/she will get a share of the commission the seller pays so they've got good incentive to do this for you.

One thing I like to do is browse through homes online. Ask you agent for a web site where you can do that. I often find a home that way before my agent even knows it's on the market.

Here's an example of how this works when you've got the right agent. I spotted a property online I thought was what I was looking for. After looking at all the information on the property I decided not to schedule a viewing. My agent called me about the property too because he knew what I was looking for. I told him I'd already eliminated the property but he said, I know what you're looking for and this property is a better fit than what the listing information appears to be. I took his advice and we saw the property. He was right, I was wrong. I made an offer that very day and bought the place.

Answer 4

Find a real estate angent that you trust, they'll be able to help you through everything.

Answer 5

The first thing you need to do is to see how much of a house you can afford.  Look at you budget, see what is a good payment range for you and then contact a bank and get a pre-approved loan for that much. By doing this you will save time in not looking at houses you can not afford. Also, when you do find that house you will be able to act faster because you already have a pre-approved amount.  

Once you know how much you can afford, look around. Look in the papers and on-line and also contact a realty agent.

Good luck in you search.

Answer 6

first thing, take a look over your budget and see how much of a house you can afford, you don't want to start looking and fall in love with something that is totally out of your price range.

Find a real estate agent that you feel like you can trust.  They will usually direct you to a mortgage broker but if you feel uncomfortable with the broker you are more than welcome to find your own.  When my husband and I bought our first home our real estate agent sent us to his mortgage broker but she was a complete and total b!atch (we were both really young, I was 19 and my husband was 23).

The best kind of loan to get would be a FHA loan (First-time Homebuyer's Association), they usually have really good rates and usually a little less of a downpayment.  Whatever you do, do NOT fall for an ARM Mortgage Loan (Adjustable Rate Mortgage), if you do decide to do it, which I did when I first bought my home, refinance immediately before the 1st year is up, you will get bent over if not.  The payment sound amazing but after the first year you get screwed over.  My mortgage was going to go from about $600 per month to over $1,000.

When searching for a home it is very exciting but very stressful at the same time.  You will just have to be patient, you will find your perfect starter home.

After you find a home you would like, you have to search for Homeowner's Insurance.  Please be sure to shop around to get a good rate, and also, be sure you are going to an insurance agent that you can trust.

When you find a house to move into, some real estate agents have a U-HAUL type truck of their own that you can rent for free to move with.  Be sure to ask your agent about that, it'll save you a lot of money.

Also, even though you will have an agent, a lot of times they will try to push you onto the homes that they have for sale themselves so they get more money but please feel free to tell them that you would like to look at others that are out there.  Feel free to also drive around and look at some on your own, don't actually go into the house but drive up and get a print out that they have and if it intrests you let your agent know.

Congratulations and Good Luck!