How to buy your first house in 3 steps

Buying a house feels like a big, adult deal. Well, it is, and it is not. It really is simple, and if only someone would’ve explained it to you in the beginning, everyone would feel more confident when walking in the bank to get started. It is new, and unknown, so it seems unattainable to some. You can do it! Follow these steps, and do not be afraid- buying your first house important and should pay off for you in the end.

Make an appointment with a mortgage broker in a bank

When you are a first time home buyer, there is a lot of financial information that you will want to know about yourself when buying a house. I can spell it out here, but it would be easier for you to head to a bank and they can give you your real-life financial situation. Ask questions when you don’t understand, and try to gain enough knowledge that you would be able to teach it to someone else afterward. I believe it is free in every bank for a mortgage broker to sit down and work through what price of house you can afford, so you can start looking in that price range of homes to live in.

Do not be embarrassed about not knowing this information. The majority of humans have not been taught about purchasing a house, so why are you expected to know it. Mortgage brokers do this stuff on a daily basis though, so make sure you ask questions and get clear on how your numbers are being crunched.

Get clear on what you want, and where you want to live

After you have an idea of price range, decide on what your requirements are in your first house. Do you really want a garage, or a fenced in yard. Maybe you need to have a three bedroom because you have a child and want a guest room as well. Keep in mind that you can add or change a lot of cosmetics in your house to make it your own after you buy, but try to be realistic within your price range. You don’t want to set yourself up for failure or disappointment. Your first house does not need to be your forever home; it is possible to buy a few homes in your lifetime.

Research the MLS (Multi Listing Service)

You can call a real estate agent to help you look through homes, but it has become very easy these days to browse the MLS and find a handful of homes that could fit your budget and checklist needs. Research the MLS and get an idea of what you can afford, and write down a few houses that you could see yourself in. If you absolutely require a garage, then only look at houses with garages. When you have a good grasp of the MLS, call a real estate agent and take some tours. Have fun with your search. It is an enjoyable experience to see other peoples houses, and envision what you and your family can do to make different houses your own.

How did you buy your first house? Leave a comment below…