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Before you buy your first house, there are important steps that need to be taken. Buying a house is a complex, multi-faceted process. If done with proper care and attention, the path to home ownership can be fairly pain-free. But in order for this to happen, you need to consider what actions you can take to ensure each part of the process goes well. The most important factors might be summarized as your finances, your partnerships and the condition of your property. Following these five steps will ensure these factors are taken care of.


Having a budget for your home is a crucial first step. Much like a bride trying to pick a wedding dress, it is all too easy to blow your budget if you start shopping outside your price range. You need to think hard about your financial situation, available credit and loan options, and be disciplined when looking at properties. Sorting your budget out from the get go can save you time, money and from over indulging in the future.

Do Your Financial Research

We know it’s hard, but doing your research always pays off. Familiarize yourself with everything from credit ratings to different types of mortgages and loans before you start involving yourself with agents and lenders. The more you understand going in, the better chance you have of setting yourself up with better rates and long term financial success. It will also help you feel less overwhelmed when discussing these important matters with professionals.

Agents and Lenders

Once you’ve done some research, you can reach out to agents and lenders. Having a good real estate agent that knows you budget and what you’re looking for in a house will make every step that much easier. Choose a real estate agent you can trust, so that you don’t end up shopping for houses you simply can’t afford.

Your lenders and mortgage brokers are equally important relationships to build trust with. Everyone has different needs, and understanding yours will help you pick a lender that works for your financial realities and goals. Whether it’s working with your bank or an outside broker, they will help you build a financial profile that meets your needs. Island Trust is always available to help you understand your options, and we welcome all prospective home buyers who want to pop in for a chat, even if they aren’t quite ready to buy a home.

Get a Home Inspection

Even after you’ve sorted out your finances and found your dream home, it is always important to have the property inspected. Home inspections are the best way to ensure that the property you are interested in won’t become a money pit. It gives you peace of mind, as well as a deeper understanding of the state of your property and how you can maintain it once you become the new owner. Home inspections are important for any type of property. Home inspections are crucial before making an offer, even for a brand new or unfinished property.


Make an Offer

Finally, you’re ready to make an offer! This step can be more complicated than it seems for certain properties. A number of factors, including how long the home has been on the market, whether or not the price has changed, and how many other offers the owners are getting, all impact this step for you. Your real estate agent can help you present an offer that gives you the best chance of getting your dream home at a good price.