Buying your first home can be an intense process and this scares many people who are considering buying real-estate. In this blog, I’m going to outlay some simple tips that will not only allow you to make the purchase process simple BUT also allow you to find a good deal on a house:


  1. Talk to lenders government insured loans

In my experience, not all lenders are created equal. First time buyers have fairly unique needs when it comes to the mortgage process:

  • Make sure you are exploring mortgage options that are insured by the government FHA, USDA, VA, etc
  • Federally insured loans tend to have lower interest rates and will allow you to save great amounts of money of long periods of time
  • Make sure that you get a price range so that you aren’t tempted to spend 500 vs. 449
  • These loans also have stricter guidelines for appraisals and inspections
  • Lender is also going to give you an established price that you can go up to based on your expenses, which will help tremendously in your house search saving you both time and money


2. Be market savvy

We live in an era where things like Zillow can allow you to see what’s on the market and what homes are in your price range.

  • Search for homes within your price range
  • Few minutes each day
  • Identify locations that suit you best
  • Get set up on market subscriptions so that you can see properties AS SOON as they hit the market. It today’s world, it can often mean minutes in who get’s a house simply because people can receive information faster.


3. Don’t Be Afraid To Make An Offer

Many first time buyers believe that an offer is a real-estate death sentence.

  • That almost all contracts have what’s called a due diligence period where you can get out of the contract for any or no reason
  • There’s a saying in real-estate that you want to be “the first or last person to put in an offer”
  • The first person to offer on a property will more then likely get the deal and the best price. Same goes for the last person. If the property gets multiple offer offers and there’s a bidding war, it never is a good thing for buyers.


4. Never be afraid to negotiate and realize that you may have more negotiating power then you think

  • Has the property been sitting for a while? Ask for a lower price
  • Does the property need extensive repairs?Ask for credit toward closing
  • Do you particular like the furniture? Ask if you can have the furniture
  • Want a home warranty? Want your expenses paid? Ask the seller


5. Try to stay away from “No money down” hype

No money down deals can make sense for many people, but putting down a large down payment can make a huge difference over time. Even after 2008 there is still the zero down deal people that preach trying to purchase houses with no money.




The $20,000 dollar difference between the two loans is equivalent to around $100 extra each month and the first few years of the loan will be mostly interest.  Not to mention you have no equity if the house were to go down in value.