First Time Home-Buying Checklist

First Time Home Buying ChecklistBuying a home can be overwhelming, so a first time home-buying checklist assists those new to the real estate market.  Since purchasing a home is better than renting, your money goes into an asset that will remain yours instead of the landlord’s pockets. In addition, there are many tax benefits to owning a home and your house’s value will increase over time. For help with the first time home-buying process, here are some tips.


  • Decide how much you can afford. This number is depends on your credit rating, monthly expenses, down payment, and the current interest rate. Be sure you have earnest money (the deposit put down when you make an offer), your down payment, and enough money to cover closing costs.
  • Know what monies are available to you. There are many programs available to make the first time home-buying process more affordable. From HUD houses to first time buyers’ incentive programs, grants for single parents to programs assisting those with bad credit, money is available to help you buy a home. The trick is to do your homework; research available programs to find the one that is right for you.
  • Get pre-approved for a mortgage. By pre-qualifying for a mortgage, you will know exactly how much money is available for you to spend. In addition, you will have the confidence of the seller once you’re ready to negotiate, and you will save yourself wondering if the house of your dreams is affordable or not.
  • Understand your rights. The Department of Housing and Urban Development protects consumers against discrimination and provides people with the opportunity to own their own homes. By researching the rules surrounding housing and mortgages, you can be confident to assert your rights and receive fair treatment.
  • Enlist the assistance of a professional. A real estate broker can be an extremely valuable ally in the first time home-buying process. Who better to help a novice homebuyer navigate the real estate market terrain than a trained real estate professional? A broker knows the neighborhoods, the schools, and the financial in-and-outs of home buying. In addition, brokers have access to resources most of us do not, like multiple-listing services. If you are considering a HUD home, you must have a broker since he/she must submit your bid.

This first time home-buying checklist will help you get started in the first time home-buying process, and your real estate broker can help you proceed. Buying a home can be stressful, but it is also very rewarding. In Austin, consider Clark Wilson Builder when you are looking for a new home. Established in 1986, Clark Wilson has a long and proud history of building quality homes for satisfied customers. Visit the website, or for a deeper connection to this customer-focused company, join the conversation on Facebook andTwitter. We’re also on Pinterest.

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2 Responses to First Time Home-Buying Checklist

  1. Barbara says:

    I would add one piece of advice: Don’t underestimate costs like utility bills, repairs, and landscaping. A smaller property will be more affordable and easier to maintain than a larger one. A house doesn’t have to be big to provide all the room you need; it just has to be well designed. The Clark Wilson model in Whispering Hollow (Buda), which I toured today, has 4 bedrooms, 3 baths, large kitchen, breakfast room, family room, and formal dining / formal living / study, all in about 2400 sqft. And since new homes have warranties, more modern features, and fewer repair bills in the first few years, they are a good option for first time buyers.

  2. Barbara says:

    (I’m sorry, that should say 2700 sqft, I think.)

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