What is the first step in buying a house?

**mikebishop** · 09-06-2010, 01:56 PM

Step 1: Figure out how much you can easily afford to pay for housing each month. This is based on your budget not what a lender tells you.
Step 2 Fins out which is better buying or renting. It could be either way depending on your unique situation.
Can you suggest me more?

**jyang** · 09-06-2010, 04:42 PM

3. Figure out what you want (1-story or 2-story, small lot or big lot, etc)
4. Which neighborhoods are safe and if you have kids, which ones are in a good school district.
5. Property taxes
6. Near family and friends?
7. Near work?
8. Approximate cost of utilties (water, gas, electricity, misc)

**expathousing** · 09-21-2010, 08:15 AM

hello,

I thing you need to know real price of your property in the current market and need to suggestion with your friends and family....

Thanks

**FLRES** · 09-22-2010, 01:29 AM

the first step is to find out how much money you have to invest.
the 2nd step is to locate where you want to buy and research that area, value the properties and cash flows of investment housing and determine if the rate of return is what you are looking for. Then you will be able to decide between rentals for cash flow or single family housing investment.

**pamolawilliams** · 09-22-2010, 02:44 AM

There are some more things which you have to keep in your mind when you go for buying a house. First of all you have to check the area location, and the cost, legal documents, etc.

**ethanpol** · 09-29-2010, 03:51 AM

There are some things but first how much money you have to invest you can easily afford to pay for house...

**Bones** · 09-29-2010, 07:49 AM

If you're planning on obtaining a mortgage for the property make sure to get preapproved for your mortgage. Also find a real estate professional to help you.

**Jonathan Radford** · 09-30-2010, 10:10 AM

I think the rent/buy decision has to come first. Are you going to be living in that area at least 5 years from now? Real estate is a long term commitment - don't plan on buying (even for investing) if your window is less than 3 years. The exception is flipping but that only works in a very fast growing market and is always risky, even if you know what you're doing.

**William Lan** · 10-01-2010, 01:53 AM

Very helpful tips for a home buyer. Almost all the topics are covered which we should keep in mind.

**minnesota-mls** · 10-01-2010, 06:27 PM

Congratulations on exploring the idea of purchasing a home for sale.

Here in Minnesota, we work with a number of first time home buyers.

I would encourage you to sit down for a cup of coffee with a local realtor in your area. He or she will be able to advise you on your current real estate market, interest rates, and help you examine what makes the most sense for your personal situation.

Best of luck to you!!