Checklist for First-Time Homebuyers

1. Do get pre-approved first. Sitting down with a mortgage lender before you ever start looking at homes will save you time and money. No homeowner will accept a bid from an unqualified buyer and you may just find yourself losing a great house because you are not ready with pre-qualification in hand.

2. Do be realistic about your “wish list.” As you research your dream home — in your price range, of course — there may be some things that you just can’t afford. Your budget may allow for a certain square footage without a garage, for instance. A finished basement may put you over your budget, and a fully remodeled home will cost much more than one that needs some updating.

3. Don’t try to go it alone. Having professional help is always recommended. A buyer’s agent will walk you through the process step by step and help you get the best house for you. Get a referral from people you trust. A good mortgage lender will answer all your questions and make you feel comfortable with the process of getting a mortgage. And a professional home inspector will save you time and money by making you as informed as possible when making decisions.

4. Do consider the resale of your home when you are buying. Too many people overlook important factors such as resale when considering a home, never imagining the day that they may need or want to sell. If a busy highway behind your house does not bother you, will it cause a problem for the next buyer? By the same token, home improvements that you invest in should always have resale in the back of the picture. Just because you like a pink countertop does not mean that the next buyer will.

5. Don’t forget about the hidden costs of buying and owning a home. These can include taxes, several types of insurance, appraisal, mortgage and even moving costs. Owning a home always involves repairs, maintenance and updating. Taking care of your investment is the best advice I could give.

There is much more and I could go on all day, but these basics will start you on the path to being a smart homeowner.