FEARS AND FACTS ABOUT BUYING YOUR FIRST HOME

   Fear #1  I can't afford to buy a home now.

   Fact:   Actually, you can't afford not to buy a home now.

   First, there is always a home you can afford to buy that will be a smart purchase for you - the only questions are what and  where.

   Second, if you are paying rent, you can afford to buy.

  
Third, the earlier you buy, the earlier you will benefit from equity buildup and will be well-positioned for any future appreciation.


   Fear #2:  I should wait until the real estate market  gets better.


   Fact:  There is never a wrong time to buy the right home.

   Historically, focusing on the market is never the smart approach to buying the right home.

   While you should always be aware of the fluctuations of local market conditions, real estate tends to be much more stable and rewarding over time than other types of investments.



   Fear #3:  I don't have money for the down payment.

   Fact:  There are a wide variety of down payment options available to you.

   While many people believe that making a home purchase requires a substantial down payment, as much as 20 percent, this is not always true.



  
Fear #4:  I can't buy a home because my credit isn't very good.

   Fact:  A less-than-perfect credit score won't necessarily prevent you from buying a home.

   Typically, there are two types of credit challenges -- a poor credit history or no credit history.

   Another challenge is having no credit history because you are new to the workforce or have not made regular purchases on credit.

   It's worth noting that there is no better way to improve or establish your credit rating than by having a mortgage and
making timely payments.



   Fear #5:  I can't afford to buy my dream home.

   Fact:  The best way to get closer to buying yourdream home is to buy your first home.

   Very few people can afford to buy their dream home when they buy their first home.




   Fear #6:  I should wait to buy a home until I get married.

   Fact:  There is no reason to wait.

  
When most people say they want to wait until they're married to buy their first home, what they're actually struggling with are two distinct issues:
         
          First, would it be better to wait until they had two incomes?
         
Second,  will my future spouse like the home I choose?



  
Fear #7:  Buying a home seems way too complicated.

   Fact:  Buying a home is complicated, but thats why you have help.

   No one would ever tell you that buying a home is easy.  It's not.

   Every year hundreds of thousands of people buy their first home.