It was true for our parents, and their parents, and its true for you today…..buying your first home is the biggest purchase you’ll ever make! (the only difference over the years was the numbers….)

--my grandparents first home cost $3,700 in 1945, (and the average household income that year was $2,410).

--My parents first home, a single family ranch, in 1957, cost $13,500, (while the average family income that year was $4,800), and…

--MY first home was a single family, in 1977, average family income was $15,000, and my home price was……well……. more than that!

Generation’s X and Y face new challenges. With prices going no way but UP, it takes some keen planning, and action to get ready to buy that first home. Let’s do a quick list of the necessary steps to get to your first home. Over the next several weeks, we’ll go into more detail on what’s needed, but for now, start thinking about…………..

1) You’ll need a mortgage. What’s your credit score? (shoot for no late payments, no missed payments) What can you afford? Getting pre-approved can save you heartache before you fall in love with something you can’t afford.

2) Find a Realtor who can help you through the process. Many Realtors do buyer seminars, and individual Buyer counseling. This can help get thru the homebuyer Maze without loosing your sanity in the process!

3) Where do you want to live? Check out communities and the amenities in the communities, “close to work, schools, shopping?”

4) What kind of home do you want? Are you looking for a row home, town home, single family, looking for land, city, country….make the decision early so you can concentrate on what you really want! Your time is valuable, don’t waste it!

5) Work with ONE Realtor, and let them do the preliminary foot work for you. Calling around to every Realtor, in every Real Estate book means you’ll need more effort to get to your goal. Besides, the power of being able to say “I have a Realtor” will keep the follow-up calls, and the hassles. Your realtor can show you homes that are listed by any agency, and they can even email you listings as soon as they become available, so you don’t miss out on the home of your dreams!

6) Get an idea early on what prices are going for in the communities you’re interested in. This, in combination with what level mortgage you can afford is the biggest reality check.

7) When you do find the house you want, you’ll need a down payment to show the sellers that you’re serious about buying their home. The BIGGER the BETTER. They want to know if they are taking their home off the market, and making plans based on the sale, that you’re not going to walk away and leave them hanging!

OK….there’s more steps in the process, but lets start with these above, but other subjects to come include…….

8) You found your “castle”….

9) Making the offer on that home….

10) DON’T GO OUT NOW AND BUY ANYTHING BIG!

11) Offers, counter offers, acceptance, ….

12) Getting your mortgage, the application, the process….

13) Inspections, planning the move…..

14) Going to settlement….