I remember when I was ready to move on from my tiny one bedroom apartment and buy a house.
It was an exciting time, as I was imagining the extra space, the ability to design it the way I wanted, and being able to build equity.
But as excited as I was, I was still nervous. I never bought a house before and the home buying process is intimidating, especially for first time home buyers.
Nevertheless, I worked hard at keeping my emotions in check and was able to buy my first house.
During this process, I made a handful of mistakes and learned a lot. All this helped me when it came time to buy my next house.
So today, I am going to share with you my checklist of 13 tips you need to make the home buying process a treat and not something to stress over.
The information here is perfect for first-time home buyers as well as those looking to buy their next property.
13 Tips For Making The Home Buying Process Easy
#1. Determine Your Budget
The most important step in the home buying process is knowing how much you can afford to spend.
The problem with this question is that it can be tough and even confusing to answer.
For example, many lenders use the 28/36 rule. This states that your mortgage payment should total no more than 28% of your gross monthly income and your total debts should not total more than 36% of your monthly gross income.
While this rule makes it sound simple to know how much house you can afford, there is an issue with it.
It is taking into account your gross monthly income. This varies drastically from your net or take-home income.