Buying a home for the first time is both an exciting and an intimidating experience. It’s a huge commitment requiring a substantial financial investment that can bring many benefits if done right.

If you’re buying a home for the first time, here are some helpful tips to keep in mind:

• Review your credit report. Before making the decision to buy a home, take a look at your credit report, which contains your credit history and credit score, and check for traces of identity theft, incorrect information, and an inventory of your accounts. This is the first thing that lenders will assess before determining if you qualify for a loan or not.
  
  According to the Federal Trade Commission, you can request a free copy of your credit report from AnnualCreditReport.com. Only one free copy is given every 12 months.
  
  
• Get pre-approved early. Many first-time home buyers make the mistake of getting pre-approval only after they’ve found the perfect home. This can cause the seller to lose interest in your offer since they would need to wait for your pre-approval. Since pre-approval tells you how much a lender is willing to loan you, getting pre-approved early on can give you a price range of the homes you can afford.
  
  
• Work with a real estate agent. Since it’s your first time to buy a home, it’s best to have an expert by your side. A qualified real estate can help you find the right neighborhood and home for you based on your needs and wants. They also have the real estate experience, skills, and local market knowledge that will aid you during the home buying process.
  
  
  If you’re thinking of buying a home in the Hudson Valley, contact the Hudson Valley Realty Center at 845-395-9755 or info@hudsonvalleyrealtycenter.com. For the past 25 years, we have been helping buyers find the perfect home in the New York towns of Monroe, Tuxedo Park, and Montgomery.
  
  
• Set criteria. One of the most helpful ways to shop for a home is to set criteria for the kind of property you want, where you want it to be, what you want it to have, and many more. These criteria can also help in narrowing down your list of chosen properties.
  
  
• Ask a lot of questions. Buying a home is a huge financial decision. And since it’s your first one, it’s important to ask a lot of questions. Don’t hesitate to ask your real estate agent, lender, or home inspector about any questions you have about the home or the home buying process.
  
  
• Get a home inspection. Many first-time home buyers also make the mistake of skipping the home inspection. This is crucial because it can alert you to any safety issues or maintenance problems in the new home. Any findings during the home inspection can also be used as a negotiation tool to lower the home’s sales price.
  
  
• Don’t be afraid to negotiate. Negotiating with the seller can be intimidating when it’s your first time to buy a home. However, negotiations are important because these can give you a better and fairer deal on the home you’re looking at. Aside from the asking price, you can also negotiate for certain appliances in their home, the closing date, and the closing costs.
  
  
• Be patient. When it comes to buying a home for the first time, patience is key. Having patience during the home buying process will help you make the right decisions and give you a better understanding of your chosen housing market.

For inquiries on homes in the New York towns of Monroe, Tuxedo Park, and Montgomery, contact the Hudson Valley Realty Center at 845-395-9755 or info@hudsonvalleyrealtycenter.com.