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With today’s economic times there is a unique opportunity for people to purchase their first home. The purchase price and interest rates are at an all time low and banks are willing to make loans to people who have a good credit rating. Sometimes this seems like something that is complicated but there are first time home buyer tips that will help with the process.

Although the price of the homes has gone down tremendously, it has been found that rents have not. Therefore, if one is paying a thousand or so dollars a month doesn’t it make more sense to have this money going into something that will build up an equity as well as allow one the pleasure of home ownership? Many people are finding excellent buys in lovely homes that were completely out of reach just a few years ago. A good real estate person will have a list of available properties, the price and any terms connected with the sale.

...for more info on being a Portland First Time Home Buyer CLICK HERE!      

One of the first things to look at is the condition of the property. If it requires a great deal of repairs and the budget is short this might not be a good buy when there are many houses available that are in excellent condition. The next thing one needs to take careful note of is the neighborhood. Are the lawns kept up, is there trash around, are the sidewalks and road in good condition? If these are not top notch it would not matter how much was done to a house its value would not appreciate.

A check to see if there is a Homeowner’s Association and what their rules are is also an important thing to consider. In some neighborhoods the monthly fees are quite high and the rules are very strict. If one is on a tight budget this might be a hardship.

If there are children to consider checking out the neighborhood schools is a must. Some schools are having difficulties with their educating scores being low and one would not want their child getting in that type of situation. This can easily be checked on the Internet.

...more info on being a Portland First Time Home Buyer right here!   

Transportation in the area is also a factor. If unable to drive to work would it be possible to have public transportation available. Also included in this is the distance from the house to work. It becomes burdensome if one has to fight heavy traffic for an hour to get to work even though the house meets all the other criteria.

Last but not least is the financing. The basis for getting good financing is a good credit score and a good employment record. With these in hand it is possible to move into the home of one’s dreams usually with very little down. However, the last of the Portland first time home buyers tips is shop around for the best interest rate and get a 30 or 20 year fixed. Variable rates are not a good thing to have as they can change in a moment and reach any amount.