The day has come to start looking for your own home. If you are a first time home buyer, things can get overwhelming pretty fast. How are you going to find the perfect house? What if you miss an opportunity that would be better than the one you choose? What steps do you need to take to actually get to the closing date? So many questions can start without many answers if you don’t seek help and advice. Here, we want to help you ease into the process with 6 simple steps for new home owners.

Step 1: Get you’re budget together

Before you look into homes, mortgages or any other step in the buying process you need to set a budget. Once you set a budget for how much you can pay per month for a home then you need to take in account for taxes and insurance. For instance, say your budget is $1,500, taxes and insurance could be around $350. So you are really looking for a mortgage that is around $1,250 per month. Getting a budget before you look into homes will help you select homes that you know you could be qualified for. You don’t want to look at higher priced houses then come to find out you need to be looking at houses $30k lower or vise versa.

Step 2: Get pre-qualified and pre-approved

Getting pre-qualified is the first step. For a new home owner, it is important to know your price range. After getting pre-qualified you can start to look at homes. Once you find a house or houses you like you will want to get pre-approved. Being pre-approved will help when you are going to put in an offer on a house. Pre-approval just means that the bank is approving you for the set amount but there is no actually binding or paper work to say you have to use that. That just shows the seller and sellers agent that you have funds to back the offer you put on the house.

Step 3: Find your perfect home

Now that you have been pre-qualified you need to find that perfect you that you want to spend the next several years of your life in. Sometimes looking for a home can be stressful on your own if you don’t know everything there is to know about buying a home. That’s why getting a realtor will be very beneficial for you. They have a list of all the houses on the market and can talk with other realtors to keep an eye out for a specific kind of home. Having a buyers realtor does not cost you any extra money as a new home owner. The sellers side actually pays for the realtors. So using a realtor doesn’t cost you anything extra and make the process so much easier for you.

Step 4: Schedule an Inspection

After you put in an offer on a house you have (depends on mortgage company) about 10 days to get your home inspection done. A home inspection is a very important part of the process because you make look at a house and see no problems, but an inspector looks at everything with a magnifying glass. Parker Inspections has licensed and insured home inspectors available to make sure you know every little detail about the house you are about to purchase. For instance, if a house your looking at has a bad blower for the furnace or a small water leak in the plumbing in the guest bathroom you would probably over look these issues. A home inspector will check all this and much much more. They will report any deficiencies found in the home. This also gives you an upper hand because if some deficiencies come up that you didn’t know about, you can try to negotiate the cost of repairs in the home price with the seller. Along side the home inspector it is usually a recommended to get a termite inspection as well. This leaves nothing to question with your home.

Step 5: Negotiate with the seller

After the inspection, you will be given a list of deficiencies in the house. That is a fancy term for problems. With this list, you can make an educated negotiation as a new home owner. If the structure is compromised, you don’t want to pay top dollar for the house. Use this list to your advantage and make the smartest offer. You are allowed to negotiate some of the repairs within the offer price. Take this list and use it to get the most out of the home possible.

Step 6: Close on your new home

After the inspection and negotiation, you are ready to officially be a new home owner! Closing is a simple meeting with paperwork involved that states the deal that has been made with the previous home owners. During this time, you officially get the funding with your lender. A realtor will make this process as smooth as possible for you and your family.

Buying a first home can be a stressful time, but also the most exciting time. Remember, the first step is to find a realtor you know and can trust. By doing this, your experience will not be stressful. Your experience can be smooth and easy. Realtors can set you up to succeed and get you in the home that fits all the criteria you are expecting. As a buyer, you do not have to pay realtor commission. That is the sellers job. So, sit back, relax, and enjoy being a new home owner.