where do I start? - First Home Purchase...

[CaptSensible]

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Be careful!

Once you enter the ranks of the propertied class, you will have an uncontrolable urge to vote Republican. [img]/images/graemlins/grin.gif[/img]

Welcome aboard.

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This is actually quite funny. After I bought my first house I started to understand the republican party a great deal better than I had before (think taxes, taxes, taxes).

Thankfully I am still a staunch democrat. I looked the devil in the face and resisted.

[jacki]

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I'd suggest you start by contacting a lender. Let them tell you what the max home you can afford is.

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I think this is terrible advice, unless you're willing to make big cuts in discretionary spending.
My lender for my first house had us approved up to $200,000. Based on the monthly payments, we decided we could afford a $135,000 house.

[CaptSensible]

1. As many posts here have stated before get PRE-APPROVED. With your salary and credit rating that should be no problem whatsoever.

2. Find a real estate agent YOU LIKE. If you don't like your first one get another. Your real estate agent is going to become your best friend through the entire home buying process (this is not an overstatement). You will be calling them at 9pm, weekends, etc etc etc. They should be fine with that. If they're not get another one. I've had 3 different real estate agents (2 for buying, 1 for selling). Two have been fantastic one was just good. Get recommendations if possible.

2a. Your real estate agent needs to understand your needs and what you're looking for. You need to have a rapport with them. You need to be able to understand each other and be on the same page.

3. I highly recommend getting a house instead of a condo IF you can afford it.
A condo is an apartment you own. A house is, well, a house.
The 60-90 bucks a month you might pay for a gardner is much less than you'll pay for association fees. I like owning something that's free standing as opposed to something that's connected to other dwellings. I can turn up my stereo without bothering anyone and I don't have to worry about my neighbors turning up theirs.

4. Someone suggested you buy a newer built house. There's wisdom to that but I personally prefer older houses.
Older houses have a lot more character if you care about that sort of thing. Newer houses are more reliable and don't have 45 year old plumbing that needs to be replaced though many older houses have had their plumbing updated.

Many say that older houses were built better. I don't know if that's true or not but I just purchased my 2nd house from the 50's. If I could have found one that served my interests I would have bought one from the 30's. Again, that's all based on personal preference.

4.Go to realtor.com.
You can get a great idea of what's available and what things are going for. It's a great resource while you're looking for a house.

For me home ownership has been an extremely rewarding experience for. It is INFINITLY more satisfying paying a mortgage on something you own than it is to make someone else money by paying them rent.

Well, I hope this info helps. CONGRATULATIONS and GOOD LUCK!

[NutzyClutz]

Find a place with LOW taxes.

[MrMon]

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Find a place with LOW taxes.

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He lives in Minnesota. I assume he's going to continue living in Minnesota. The tax bill is kinda fixed.

The only real way to lower taxes once you've choosen a place to live is to choose a cheaper house. Now, the 'hood has some house with real low taxes for those obsessed with lowering their bill, but it's not a route I would recommend.

[whiskeytown]

I'm not gonna be a cheapass - I'll pick security and comfort over size - a 4 bedroom house near Chicago and Lake just ain't goddamn worth it - LOL

RB