Are You Ready To Buy Your First Home?

This is it! You've scrimped and saved and now you're starting to dream of your own home in the perfect neighborhood. It's time to buy your first home.  There are a few important things to remember when you get ready to buy your first home.

• Make a firm commitment- Interest rates will fluctuate and real estate inventory will change but it's important to buy your first home with the intent to stay there for at least 5 to 8 years, particularly if you're putting a large amount of money down. You'll need to stay put long enough to make it worth your while and to ensure you that you get a good return on your investment when it's time to move up.

• Get pre-approved for a mortgage- The importance of working with a trusted mortgage lender can not be overstated. Your loan officer will help you determine how much you can spend each month on a mortgage and how much you can spend overall on your first home purchase. Also if you have any "dings" on your credit report, they can help you work through it. Having a pre approval letter from your loan officer also tells sellers that your offer is serious and that you have taken the necessary steps to purchase a home. I work with a great team of mortgage lenders who can advise you on which loan is right for you and get you that pre-approval!

• Do your homework- Of course you can do a lot of the foot work on your own from the comfort of your living room. Websites like Trulia and Realtor.com showcase a lot of  listings that can help you narrow your search area and criteria. How many bedrooms do you need versus how many would you like to have? Having a clear idea of prices in your target area can really help to buffer any sticker shock. School districts are another key point for many buyers, even if you don't have children now, will you before you sell this home?