How do I get into my first home?

Powerful tips on what needs to be done to get into your own home.

It is truly unfortunate, that these days, too many people don’t even believe in home ownership. For 95% of families, it’s the most sure way toward financial stability and a comfortable retirement.

Luckily, you’re NOT one of those people.  You know that a sure way to start building wealth (or at least stop paying someone else’s mortgage) is to buy a home. You’re now thinking about your future, and your family’s future (or future family’s future).  But how do you get started?

First, it’s going to take a plan and commitment.  You’ve probably heard this before, yet I’ll reiterate it. A written set of goals, to purchase your home, is your surefire way to make it happen sooner, rather than later. Talk to a lender, today (I have a couple who are wonderful with first time buyers). Even if you’re nowhere close to being able to buy, a lender can tell you what you’ll qualify for, when you ARE ready…How much cash you need for a down payment and closing costs, and how much your monthly payment will be.  When you have your plan complete, write the amount you need to save, every day/week/month on a sticky note and post it where you’ll see it every day.

Now comes the really tough part…How do I come up with that money every day/week/month?  CUT BACK ON ALL FRIVOLOUS SPENDING!  I am amazed that people who are still living at home or renting, think they have to drink $5 coffees, eat out 3 or more times a week, have the newest clothes/shoes/phones/computers and spend the rest of their money on a fancy car. Changing your lifestyle now, even if just enough to save a down payment, will reward you for the rest of your life (way longer than those material fads).

Other possible options (to get into your own home even quicker); Lower your current rent, by downsizing or sharing…Get a 2nd job (even $200/week adds up fast)…Sell your car (get something cheaper, take the bus or carpool).  Keep reminding yourself why you’re making these sacrifices, and how much happier you’re going to be, when in control of your own financial future.  Then make sure you put every penny of that $$$ into your “Down Payment Savings Account”.

Here is a Great interview on CNN about the subject; 





Lastly, Get financial help. You may have parents or other relatives who are willing to help you get started. Yet there are also many public down payment and first time buyer assistance programs. We can help you find those as well.

For more information on many aspects of purchasing and owning a home, please go to; 

About Scott Stephens

I have been a licensed Realtor in North Orange County since 1994 and a hard working community leader, since buying my first home here, in 1988. Having been the recipient of many awards in both these areas of my life, I guarantee that you will love my service. "I'm Just Here to Help"
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