Know Your Buying Power

• Buying power is the amount of home you can afford. Affordability, however, is based on more than a personal budget. Getting a mortgage means getting a home loan pre-approval before shopping for a home. Mortgage pre-approvals take income, debt, and other monthly obligations into account.
  
  

Find a Realtor

• Realtors can offer first time homebuyers advice, counsel and assessment on resale value. Since most homebuyers who purchase a first home will likely move again, having expert counsel on resale value can be imperative. Best of all, buyer representation is free, as the real estate agent's commission is paid by the seller of any property a buyer selects.
  
  

Location

• When it comes to real estate, location is key. Buyers selecting a first home have many aspects to consider. Homes with close proximity to shopping, employers, and schools will typically have a higher resale value than properties in less desirable areas. First time buyers should always consider the area that they are buying in addition to the home they are buying.