Buying a home for the first time can be stressful; shop around in the community to see if the property value is up, look in communities where there are homeowners and no rental properties. If you have children check out the schools in the area and shopping stores.
Before you invest into a house save your money, the lender wants to know if you can save money and keep your credit score in good standards. Attend a first time home-buyer class to learn more about investing in your new home. Before you sign any documents, contact a lawyer to represent you during the settlement.
Several years ago, I was renting a home, my landlord ask me if I wanted to purchase the home. I was eager to become a first time home-buyer, so I rush into signing the documents. I was placed into the rent to buy program. I still own the home and title to the house. I sign documents without a lawyer; I learn that I should have read my documents clearly before I signed; I still experience lack of knowledge about the home owner process.
The rent to buy program did give me the opportunity to purchase my second home. My credit was good and payments were paid each month on time. I am stable in my second home that I live in now; I saved enough money to pay for the settlement charges and still had enough funds to purchase new furniture.
Its best to search for a trusted real estate professional that is willing to provide you with a professional consultation at each step of the buying process. Once you are preapprove with a lender for a certain loan and home purchase, the next step is finalizing the loan details and signing the mortgage papers. If you can afford an attorney have him or her represent you during the process. Be prepared, ask questions, and have a successful settlement.