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What you should look for first in buying your first home is: whether or not to purchase it! There are advantages to owning your own house, such as building equity in the home, and the many tax benefits such as the mortgage interest deduction and property tax deduction. Many people also have littlechoice as their lifestyles change and they need larger living arrangements that are not easily obtained in rental properties.

But the advantages of first time home ownership must be countered against the disadvantages. The biggest advantage of renting instead of buying is that most major issues are someone else’s problem. Lawns need to be mowed and trim needs to be painted. No one can say that owning is easier than renting.

But if the good outweighs the bad in your case, get ready to make this major step. Needless to say, you have to know how much house you can afford to buy. There are a great number of first time home buyer programs that may make it easier for you to qualify.

Checking into these programs will also let you to learn how much down payment you will have to have and how much in monthly payments you can afford, based on your salary.

The location you pick will usually be determined by purely practical matters, such as how far you are willing to commute, the quality of the school system if you have children and the proximity of family and friends.

You can do a lot of preshopping on the web to get an idea of the homes in the area you are interested in. Any of the sites of the large real estate agencies will allow you to choose a number of towns, or a certain county that you have targeted as the ideal locale.

The school system can be important to you, and you can ask around, or you can check the many surveys done, such as Newsweek’s, on the quality of various school systems.

You can even locate a service that ranks schools and then links you to a real estate agent in that area.

Once you have narrowed the choices down depending on location and school systems, you can start your virtual search by putting your criteria, such as how many bedrooms, style of house, and your price range into one or more of the many real estate sites on the internet.

Armed with this information, you will have a clear idea of what to discuss with the real estate broker. But before you start the actual search with a real estate broker, it is probably a good idea to meet with your mortgage broker to get a mortgage application in process.

This step will make buying a home much easier and more successful. This will set you aside you as a serious buyer when you start to go around looking at properties. This will also give you quite a bargaining chip, since the purchase will move quickly if it doesn’t need to be slowed down by the mortgage application process.

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