1. Budget what you can afford
2. Separate must-haves from wants
3. Get off the beaten path

Budget what you can afford

Take a good look at your income and expenses. Your monthly payment for the home should be around 30%-35% of your income. Any more then that and in couple month the house payment may become a real burden. You want to afford the home, afford to decorate it to your liking, make improvements and still enjoy the lifestyle you had before you became a proud homeowner. Be realistic with the budget and you will enjoy home ownership.

Separate must-haves from wants

To begin shopping for your first home make a list of must-haves and wants. Example: you have 3 dogs, so a fenced in yard is a must, but steam shower in the master bedroom is a want. Create a list based on your lifestyle and situation and choose your new home accordingly. Do not make concessions on the must-have, it is much easier to buy a home that fits then to make changes later.

Get off the beaten path

Do not think that the only way to buy a home is to ride in back of a Realtor’s car. There are many more options, than your real estate agent will be willing to tell you (you can ask why in the comments). To explore these options take a look at your local FSBO listing in the newspaper, craigslist and search on google. Look at home posted on www.nestery.com, www.ownittomorrow.com or similar website. There are homes for sale by owner and those listing are not in MLS and real estate agents will not look for them. Some of these homes are offered with no bank loans.

As you can see there are options and you have decisions to make, so take your time and educate yourself. Check the Financing options menu to learn what else is available.