How to Find Your First Home

Although buying your first home and going through the mortgage process can be a somewhat intimidating process, it's only because you've never been through it before. Looking for your first home can be quite exciting.

So where do you start?

Begin to look for your first home by driving around and observing different neighborhoods where you think you might like to live and keep an eye out for "For Sale" signs. If the home offers information sheets, take one so you can compare each of them when you get home. If the information sheet does not have a photo of the house, take one with your own camera. Once you've looked at a dozen houses, you'll forget which one is which.

Another way to look for a home is to check newspaper classified ads, listings on the Internet which you can find at www.realtor.com or through real estate company Web sites.

Why use a real estate agent?

A real estate agent can be very helpful in searching for homes. They can give you the ins and outs of home buying from an experienced professional's point of view. Some people prefer not to use a real estate agent—that's your prerogative. But if you're an inexperienced first-time home buyer, you wouldn't want to be swindled or taken advantage of by a seller's agent your first time out. Be prepared that a portion of what you pay for the home goes to pay for the commissions of both real estate agents—yours and the seller's.

What to Look for in a Home

You hear people say it all the time: "Location, location, location!" But that doesn't just mean where the home is located—it involves everything having to do with the location. When you look at a home, you also have to consider the kind of neighborhood the home is in. Are the other homes well-taken care of? What kind of businesses are nearby? Are there grocery stores or malls that are convenient and easy to get to? Don't forget to also consider:

Schools—If you have kids or plan to have them, you'll want to research the school system that's in the area you like to make sure your kids will be getting an education that's up to your standards.
Safety—Consider the crime level of the area. When you look around the area, ask yourself if you and your family would feel safe and comfortable living there. Contact the local police department or check the Internet to find out more about the crime level.
Traffic—If you like a particular area, think about the traffic level. If you lived there, what route would you take to work? How long would it take you to get there? Does the traffic create too much noise (if you're, say, next to a highway or set of railroad tracks)?
Local Property Values—Find out what the rate of home appreciation is in the area and how much people are paying in property taxes (since these taxes may be factored into your monthly mortgage payment). New construction or new homes may indicate a possible increase in property values (as well as traffic) in the future.

Finding a Good Real Estate Agent

Don't go into a real estate office—most good agents are out in the field working. If you just walk in, you're likely to get the agent whose turn it is to meet whoever walks in.
Ask for referrals from trusted friends and family—talk to them about their experiences with the agents they used and find out who they'd recommend. Besides, if they're happy with a particular agent, it's likely they'll do a good job for you.
Interview more than one or two agents. Like shopping for a home, a car or any other major investment, it's wise to shop around for the right real estate agent. They should be someone who has your interests at heart, answering any questions you have, and especially someone who you feel comfortable working with.

Real estate agents are there to answer your questions and lead you through the home shopping process. If you're a first-time home buyer, finding your dream house begins with finding the real estate agent