Buying your first home is thrilling, and a little terrifying. It's a huge step, and probably the biggest purchase you will ever make. There are countless reasons to make the leap to homeownership=--freedom from renting, investing in your future, taking advantage of the financial benefits—but it takes guts to go for it. Our REALTORS® are here to help.

We've been helping new homeowners find the best homes in Fairborn for many years now, and we've learned a few things along the way. So if you're ready to become a homeowner for the first time, we have some tips that might just help you out.

• Make sure you're ready. It's crucial to know that you're not only financially ready to buy a house but also emotionally ready. Consider your life, career, and financial standing before buyin--if your job is not secure, or if you don't plan on living in the same place for more than a few years, now might not be the best time.
  
  
• Save for a down payment early. Some first-time home buyer programs allow for a down payment as little as 3 percent, but 10 percent or more is standard, and it's not uncommon to put down up to 20 percent. The more you have saved up for your down payment, the less you'll pay in interest in the long run.
  
  
• Know what you can afford. There are a number of online tools to help you determine how much house you can afford. Knowing your credit score and getting pre-approved for a loan is a crucial step in figuring out your budget.
  
  
• Remember to budget for closing costs. In addition to your down payment, you'll also have to budget for closing costs, which typically come to between 2 percent and 5 percent of your loan amount.
  
  
• Explore mortgage options. A lot of different mortgage options are available, with a wide range of rates and terms. Do your homework, and talk with multiple lenders to find the best fit—you don't necessarily want to go with the first option that comes along.
  
  
• Research neighborhoods as well as houses. You're not just buying a new house, you're buying a new neighborhood. So consider commute time, if the amenities you need are nearby, and whether the area "feels" like the kind of place you want to call home.
  
  
• Find the right agent. You need a good buyer's agent, someone with lots of experience and in-depth knowledge of the local real estate market.
  
  
• Stay under your preapproval amount. Getting preapproved for a home loan is important because it lets you know, more or less, what you can afford. But just because you can technically afford a certain amount doesn't mean you should pay that much. Staying under your preapproval limit allows you to set money aside for other, often unexpected, expenses that may pop up down the line.
  
  
• Cast a wide net. When you're on the hunt for your dream home, leave no stone unturned. Check the local paper, browse internet listings, ask your agent for recommendations, and go to open houses. Make the most of your time by planning out a route of open houses to check out, so you can hit multiple homes on the same day.
  
  
• Make a list. Create a checklist of all your "must-haves," "would-like-to-haves" and dream features; use this checklist to evaluate every house you visit.

Contact us at Wright-Patt Realty to learn more about finding your dream home in the Fairborn area. We know that becoming a homeowner for the first time can be intimidating, and we're here to help every step of the way.