Purchasing a home for the first time can be an extremely overwhelming and stressful experience if you do not have the right team on your side. The process should be exciting, not scary. We always remember our first home, and we should be able to look back at the buying experience as a fond memory rather than a chaotic mess.
To begin, determine what you can reasonably afford. Take the time to sit down with a reputable mortgage lender and discuss the many different types of available financing. Allow them full disclosure to your income so they can accurately advise you of what may be an affordable monthly payment.
Contrary to popular belief due to the housing market recession of 2008, most mortgage advisors truly do want to help you succeed in your purchase and enjoy the experience. They are not merely out to gain a sale and throw you into a home you cannot afford. The state of Massachusetts offers great resources for homebuyers by way of educational courses and professional referrals.
Hire an experienced real estate attorney. Having someone on your side to walk you through the process, while ensuring you are legally protected, is a must, especially for a first time homebuyer. Never be afraid to ask questions. That is what your attorney is for.
It is of utmost importance that you fully understand every document you sign and every right that you waive. You should understand where each and every penny goes at the end of a transaction including realtor commissions, closing costs, purchase cost, interest, etc.
In closing, get excited about buying your first home. There are many people out there who want to help you and enjoy helping you achieve your home ownership dreams!