Dear Just Be: I'm in the market for buying a home for the first time - any tips of what to keep in mind?

Many people are looking to jump into the real estate market right now - with hopes of finding a good property at a decent value and maybe even taking advantage of the tax credit that we've posted about before.

Beyond the tax credit that everyone seems to be talking about, there are a few more things to consider when buying a home for the first time.

1. First of all, determine if buying a home is right for you at this time. You may want to consult a financial advisor before proceeding with home shopping.
2. If you've decided now is the right time to purchase a home, work with a lender to line up financing. It may be wise to get pre-approved for a mortgage, this way you won't waste your time looking at properties that are out of your price range.
3. Make a list of all of the elements you must have, you want to have and don't want in a home.
4. Shop around for the right real estate agent for you. Interview several people - just because a family member or friend referred you their agent, doesn't mean you will have a great fit with the agent. Set expectations between yourself and the agent you choose. Share your "wish list" with your agent so they have a firm understanding of what you are looking for in a home- so as to not waste anyone's time.
5. Realize that finding the right home takes time and effort. On average, home buyers see 15 properties before choosing one.
6. If a property interests you, take the time to look at it again - focus on all of your needs, wants and desires in a property and see how the home measures up.
7. Make sure that the money you'll need at closing; i.e. down payment, closing costs, is liquid. If you are counting on financial assistance from relatives, make sure this money is readily available. Also, you will need a letter stating that the money is a gift from the relative and that it does not need to be repaid. This is a very important document, so don't delay in obtaining it from your family member.

By keeping in mind these tips, you will cut down the uncertainty and anxiety that can come along with purchasing a home. Happy house hunting!