Buying Your First or Forever Home

Back to blogPosted by First National BankPosted on Home Ownership, Loans, Mortgages

Buying a house can be thrilling and stressful, no matter if it’s your first home or your last home. It’s easy to get lost in the excitement and pressure of touring homes and submitting bids to the seller, but it’s important to slow down and assess the details of the house itself and especially the financial and legal paperwork involved. Here are a few tips to keep in mind if you are thinking about buying or are already in the home-buying process.

Tour tour tour! You are not obligated to love and buy the first house you tour. It can be easy to overlook some of the flaws when you are lost in the excitement of potentially buying the home, so bring along a family member or close friends to help identify any issues you may overlook. Even better, bringing a family member or friend that knows about house structure or design, plumbing, or general construction could be a real benefit when it comes to seeing any flaws or potential improvements for the house.


If you are looking for a specific area to live in or a specific type of house to buy, it is beneficial to research costs and features of homes in the area you are thinking of buying. This can help you avoid overpaying. Simply asking another realtor or banker can clear up any cost disparities and give you an edge if it comes to negotiating a price.


Once you are serious about buying a house and extending offers it’s important to shop around and learn your options for Mortgage rates, terms, and special consideration. Different banks offer different mortgage rates and might have other ancillary benefits that fit your financial situation. Once you have figured out who you are lending from, get to know your lender personally. Building this relationship can help you down the road if it comes to refinancing or other changes to your financing.

Know what lawyer or attorney you will go through for your title opinions. A preliminary and a final title opinion are required for every mortgage, so having trusted legal counsel lined up beforehand can cut down on any additional time spent on this step. 


The last step to consider when buying a house is your time frame. The process of selling or buying a house can vary depending on many factors, for specific factors see this article. If your offer is accepted by the seller early on, you usually still have some time to get ready for your move. Once your loan is officially approved, the average time frame is between 30-45 days with closing paperwork being signed on the last day. 

With these tips in mind, you can lessen the stress and vigor throughout the home buying process. Finding and utilizing the people you trust to assist in your journey towards home-ownership can be the most rewarding steps to take. These relationships can help lay a strong foundation for your financial success and peace of mind in the long run.