It can seem overwhelming the amount of things there are to think about before buying a home.  You will find below some pieces of advice that can help you attack the housing market.

Buying a primary residence is best for people who are planning to stay in it for at least a few years (three to five minimum).  The reason for this is that the selling of real estate is costly.  The longer you stay in the home, the better your chances of enjoying the financial benefits of home ownership.

Buyers always seem anxious to go out and start shopping, but this is actually not the first thing that needs to be done.  You will want to talk to a lender first and get pre-approved for a home mortgage loan.   This will ensure that you are looking for homes in your price range.  And make sure that you get pre-approved, rather than pre-qualified.  The pre-approval process is when the lender bases your qualification on actual financial data and credit worthiness.

Call…               You will want to make sure you have a look at your credit report months before you are ready to shop.  If you take our advice and get your pre-approval ahead of time, you can do this when you sit down with your lender, who can pull your credit for you.  Then, if there are any corrections that need to be made, you have time to do so before you’re ready to actually buy.

When your lender talks to you about your finances, be sure to know how much you will be comfortable spending each month for your actual monthly payment, including tax, insurance and home-owner’s fees.  This is very important, and worth noting, because sometimes the amount for which you qualify, and the amount at which you are comfortable, can be very different.

You probably have heard that a 20% down payment is standard.  Well, it’s not always necessary anymore.  There are different loan programs that could get you into your first home for much less down.  You’ll want to ask your lender about FHA loans, and other loans that may work for your situation.

Be sure to work A professional.  You will have a mortgage broker or banker handle your loan, and be sure to get a great real estate agent to handle the rest.  Although it is easy to search for homes online, remember that the entire process encompasses many steps.  If most people purchase two or three homes in their entire life, a great real estate agent probably handles the sale of two or three per month.

Don’t write any offers with out doing plenty of fact finding.  Your agent will be invaluable here, as he will be able to contact the listing agent to see if there are competing offers, any known defects with the property, and other pertinent information.  The facts that may be uncovered could greatly influence your offer stance.

Be sure to hire an inspector.  This is sort of an insurance policy before you buy to make sure that the condition of the home is acceptable to you.  Major repairs that need to be done could be cause for renegotiation with the seller.  Don’t skip this step!