| Home or Real Estate is a financial asset for You as | | | | 2. HOW DO I BEGIN THE PROCESS OF BUYING A |
| well as it's a place to live and raise children or it's a plan | | | | HOME? |
| for the future and most importantly it's an investment in | | | | Start by thinking about your situation. Are you ready to |
| your community. That's why all Americans should have | | | | buy a home? How much can you afford in a monthly |
| an opportunity to enjoy the benefits of owning a home. | | | | mortgage payment? How much space do you need? |
| And here are some home buying tips for first-time | | | | What areas of town do you like? After you answer |
| home buyers. | | | | these questions, make a "To Do" list and start doing |
| Knowledge is said to open doors including home | | | | casual research about property. Talk to friends and |
| buying. This is literally true when it comes to buying a | | | | family, drive through neighborhoods, and look in the |
| home. To become a first-time home buyer, you need | | | | "Homes" section of the newspaper, Foreclosure |
| to know where and how to begin the home buying | | | | Listings, and internet search. |
| process. The following questions and answers have | | | | 3. HOW DOES PURCHASING A HOME COMPARE |
| been carefully selected to give you a foundation of | | | | WITH RENTING? |
| basic knowledge of home purchasing. In addition to | | | | The two don't really compare at all. The one |
| helping you begin, these steps will give you the tools | | | | advantage of renting is being generally free of most |
| necessary to navigate the entire home buying process | | | | maintenance responsibilities. But by renting, you lose the |
| - from deciding whether you're ready to buy house, all | | | | chance to build equity, take advantage of tax benefits, |
| the way to that final proud step of owning a home, | | | | and protect yourself against rent increases. Also, you |
| getting the keys to your new home. | | | | may not be free to decorate without permission and |
| 1. ARE YOU READY TO BUY A HOME? | | | | may be at the mercy of the landlord for housing. |
| Find Cheap Homes Here | | | | Owning a home has many benefits. When you make |
| You can find out by asking yourself some questions: | | | | a mortgage payment, you are building equity. And |
| Do I have a steady source of income (usually a job)? | | | | that's an investment. Owning a home also qualifies you |
| Have I been employed on a regular basis for the last | | | | for tax breaks that assist you in dealing with your new |
| 2-3 years? Is my current income reliable? | | | | financial responsibilities- like insurance, real estate taxes, |
| Do I have a good record of paying my bills? | | | | and upkeep- which can be substantial. But given the |
| Do I have few outstanding long-term debts, like car | | | | freedom, stability, and security of owning your own |
| payments? | | | | home, they are worth it. |
| Do I have money saved for a down payment? | | | | 4. Best Resource to Buy Cheap Homes. |
| Do I have the ability to pay a mortgage every month, | | | | Find the great Homes in Sale, which fit in your budget. |
| plus additional costs? | | | | You may surprise after seeing the prices in your |
| If you can answer "yes" to these questions, you are | | | | neighborhood. |
| probably ready to buy your own home. | | | | |