Here is some advice if you happen to be qualifying for a first time home buyer loan trying to buy a home.  It’s a great time to buy a home whether it be in the Santa Maria real estate market or any where ever you happen to be looking. But usually a big concern most first time home buyers have is trying to not make a mistake in buying a home since a home is such a big step.  For most people buying a home is going to be the biggest investment or purchase that they will ever make.Considering that the future of a family somehow depends on this decision, this is a big step for almost everyone.  First and foremost is that the last few years have taught us a few things, one is to live within our means. Two, becoming a home owner is our privilege and not our right.So hopefully those looking to buy a home will find this of some help.

If you do not want to find yourself tangled up in money problems, you must keep your ego in your pocket and accept what you can really afford.We bought the car that we are unable to afford and now there is more stuff in the garage than we know what we could do with.You don’t want to be a broke home owner; so shop for yourself and don’t think how big someone else’s house is.What I want to say is that you spend your entire paycheck on mortgage and not have a life; forget about enjoying a day out with family.  Because at the end of the month there’s just not enough left over for anything to buy or do.Less than forty percent of your gross income, that is what the amount of mortgage that you pay should be.  You may qualify for more and that’s great but here is the thing to think about. What if you had a reduction in your pay, what if your wife had a reduction in her pay, what if you had unexpected finances pop up?You must have some sort of financial backup for the uncalled circumstances, which everyone encounters, no matter how much you try to avoid.  So lets say that your gross income is $3,000.00 per month before deductions, hence your new mortgage payments should not be more than $1,200.00 with taxes and insurance the entire nine yards.For those people trying to figure out how I calculate my mortgage payments, you can find one by doing a search for mortgage calculators.

Now the thing I hear more than anything is “but homes in that price range are not on the side of town that I want”.”Or only older homes come in that price range” or etc etc etc.Undoubtedly, you would want a house that would feel a home when you stay in it with your family.This would surely not be your last home as you are a first time home buyer so do keep your expectations reasonable.Not to get disheartened, but maybe it’s not a very good time for you to buy a house if you are not in a position to compromise.  Reality is that there are tons of homes on the market even with the options available even some of the Santa Maria homes for sale may not be what you want.

When you do finally get a home and ready to make that big step forget about the whole buy now and sell next year mentality and make some quick cash.Its not going to happen anytime soon and surely not in this market.Wondering, how could you make some potential gains out of the real estate boom? The best way to start would be to order the “Carlton Sheets” program.Until you hold on to a house you bought for investment purposes for at least a few years, it can’t really be called an investment.

Last but not least is a real estate agent, of course you can buy a home without a real estate agent you can also represent yourself in court without an attorney. You might have heard that a doctor goes to another doctor when sick and an attorney hires an attorney to represent him in the court.The truth is, just like every other industry, real estate also has it’s share of good & bad apples.Selecting an agent who does only real estate and not five different things or does not do real estate as a hobby.Though it is tempting to call the guy once you see his number on the door of the house you just saw.  There are two sides to the real estate transaction you have the selling and the buying side.

The listing agent (the guy with his name on the sign) is going to represent the seller, selling his home and try to get the best deal for him when selling his home.Getting the best value for your money could be easier if you hire a professional Realtor to speak on your behalf and set the deal in your favor. Though a Realtor can actually work for both the buyer and seller, however, it will be beneficial of you consider a personal real estate agent.  So do yourself a favor and find yourself an agent where his job is to work just for you not you and the home owner. While on your look out for a house, if you tend to come across a property as good as you want, have you agent look into the details; just one thing to keep in mind though, your agent should be a hardcore professional and not someone who is retired from his main job and has picked up property broking as a part time hobby. And before you know about it, you will be sitting in your new home.