Orange Ca Real Estate

Written by Stacy Chbosky
Bookmark and Share

The ins and outs of real estate can be somewhat daunting to a first-time home buyer. Although mortgages, home inspections, and closing costs may be confusing to you, the first-time home buyer, you shouldn't let that stop you from making your dream come true. Owning your own home is the cornerstone of the American dream, and the first step toward financial independence.

Real Estate and Financial Independence

Once you own a home, you'll have a tremendous bargaining tool for borrowing money. Whether you need a small loan for home improvements or a large loan to send your kids to college, owning a home will help. The money you throw away on rent each month could instead be going toward your mortgage. Once you own your first home, buying another home or taking out a large loan will never be as difficult again.

First, of course, you'll need to save 20 percent of the total cost of the house to put toward a down payment--or will you? Surprisingly, some real estate agents offer zero down payment programs to qualifying buyers. You no longer need to save 50,000 dollars or more to even think about buying a home. You can buy your first home with zero down, as long as you are able to make the monthly mortgage payments.

The best thing you can do as a first-time home buyer is educate yourself. There are a number of ways to do this. I suggest you talk to friends or family who have recently bought a home themselves, since hearing about a process is often a much easier way to learn about it than reading. Second, you can buy yourself a straightforward how-to-book. Finally, some real estate websites include audio tutorials about home buying, which can be very helpful.


Bookmark and Share