There are some complicated things about buying a house, but as with anything, knowledge is power. If you know the steps to buying a house for the first time, and which of those steps will be the worst to deal with, you’ll be mentally prepared for the process.

The 3 Worst Steps to Buying a House for the First Time

Gathering Your Down Payment

Most people will need to get a loan from a mortgage lender in order to buy a house. The mortgage lender loans you the whole cost of the property, and you pay this loan back over the course of (usually) 15 to 30 years.

In order to get this loan, you have to be able to put down a certain percentage of the purchase price as a down payment. While you can get loans for less than a 20% down payment, 20% is ideal. If you put down less, you’re going to have a hard time getting good terms on your loan. Your first step to buying a house is gathering a big enough down payment.

Getting Pre-Approved

Before you go looking for homes, you should get pre-approved for a home loan. This can be one of the worst steps to buying a house because it involves visiting lenders and allowing each an extremely in-depth look at all your finances. You may find that you’re not eligible to borrow as much as you thought, or you may have to visit multiple lenders before you find the right offer.

Once you know how much you’ll be able to borrow, though, you’ll know exactly what houses you can afford. In fact, some sellers won’t even talk to you if you haven’t already been pre-approved, so don’t skip this step.

Making a List (and Checking It Twice!)

Making lists isn’t fun: the fun part of looking for a home is the shopping! But if you go shopping for houses without your list, you’ll find it easy to get overwhelmed. Your list has to start with the boring fundamentals. What’s your budget? How many rooms do you have to have? How close does it need to be to a particular transportation link or school?

The next part is where you list the things you would like to have. This part of the list is just as important as the first, because when it comes down to actually looking at houses, you’re going to have to make some hard choices. For example, you may really want a pool, but is not having a pool, or even room to build one, going to be a deal-breaker for you if you find a property that’s perfect in every other respect? Do you really need two full baths, or would you be willing to give up that dream in exchange for something else you might like in a home? Your list is there to help you make hard choices.

The Easy Part: A Good Agent

There’s one step to buying a house that shouldn’t be difficult. Working with a good realtor can make the whole process easier. Your realtor is on your side, working to help you find homes that fit your budget as well as your dreams. Your realtor will explain the specifics of home-buying as you go along, warn you about issues you might not have considered, and help you negotiate the best possible deal.

Don’t Put Off Getting the Home of Your Dreams

There are a few hard steps to buying a house for the first time, but don’t let those steps put you off. Reach out to Teresa Mack today and work with an experienced professional ready to help you understand the process and get into the home of your dreams.

Your Deck of Success

Learn the Art of Success from Professionals - Don't Miss Out!

The stories within this book are condensed success lessons. Each author, experts and professionals in their fields, share their unique success techniques with you. Although each is varied, There are three trends that come through: define success, take action, and surround yourself with positivity.