Buying your first home can be a very frightening prospect.  This will likely be one of, if not the single-most expensive purchase you’ll ever make and it’s not something to be entered into lightly.  There are many things to consider when you’re purchasing your first home – the list is enormous and sometimes overwhelming, but there are a few basic rules to follow that will make the purchasing decision a little bit easier.

Money is the largest stumbling block in the road to your new house.  Do you have enough for a down payment?  If not, the initial purchase could be tough.  Will you have enough to make your monthly mortgage payments on time?  If not, the mortgage company will foreclose on your property and you will have lost everything you’ve invested.  Make sure the payments will fit comfortably into your budget without the need to juggle things around too much.  Do not purchase the property based upon the potential of your future earnings – base it on your current earnings and don’t spread yourself too thin.  If your down payment is large enough you may be able to reduce your monthly mortgage payments making ownership of your dream home more plausible.

A knowledgeable real estate agent can save you time, money and a great deal of frustration.  It is important to find an agent who is very familiar with the area you are looking at.  Finding an agent who actually lives in the area can ease your concerns about schools, taxes, local ordinances and other issues that may give you pause.  An experienced agent will work for you, helping you to find the home that best suits your needs and your particular situation.

Speaking of suiting your needs, this is another issue that demands some thought.  How large is your family?  How large will your family get?  Will you need four bedrooms or just two?  Do you need a full basement?  How much land do you need?  What kind of neighborhood do you want to live in?  How close to schools, how close to work?  If your home isn’t what you need it to be, it shouldn’t be your home.

After the purchase come other expenses like insurance, maintenance, taxes and more.  Be sure you’ve covered all the bases before you make an offer on a home so you’re not surprised by additional costs after the fact.  Again, an experienced real estate agent can be invaluable in this department.  They’ve covered these bases for countless others during their home buying processes and they’ll do the same for you.

If you’re a first-time homebuyer looking for a new home in beautiful southern New Hampshire region, call Jim Miller of Coldwell Banker Residential Brokerage at  (603) 801-3987.  Jim is very experienced in selling homes in southern NH and calling him could be the smartest move you make in purchasing your new home.  Let Jim help you find your way through the fog of first-time home buying.  Courteous, patient and knowledgeable, Jim is here to work for you.  Call today.