The first thing to decide about whether to become a first time home buyer is ?Should I?? The main benefits of owning a home of your ownare increasing equity (which has turned out to be one of the greatest investments for most people) and the tax benefits. Many people also have littlechoice as their lifestyles are altered and they need larger living arrangements that are not easily obtained in rental properties.

But don't be blind to the disadvantages of home ownership, and make sure you are willing and are able to deal with them. Anything that breaks down or needs repair is your problem, not the landlord's. Lawns need to be mowed and buildings needs to be painted. No one can say that owning is easier than rentals.

But if the good outweighs the bad for you, get ready to make this big step. The first thing you should do is make sure you will qualify for a mortgage. There are many first time home buyer programs that will make it easier for you to qualify.

Checking into loan programs will also allow you to learn how much down payment you will need and how much in monthly payments you can manage, based on your income.

Location is another important consideration, and it is usually chosen by employment, child care and school system constraints.

The internet makes it simple to find homes that will meet your requirements. The first thing you need to do is narrow your search down to a county or a few towns that will make your commute to work bearable and also allow you to see family and friends readily.

You may also decide to check out the school systems either by word of mouth, or by looking up internet surveys that rate schools; magazines frequently do such surveys as well.

You can even use a service that ranks schools, then links to houses for sale in that area.

Once you have narrowed the choices down based on location and school systems, you can start your virtual search by putting your criteria, such as how many bedrooms, style of home, and your price range into one or more of the many real estate sites on the internet.

Armed with this information, you will have a clear idea of what to discuss with the real estate broker. This is not the time, however, to meet with a real estate broker; you should meet with a mortgage broker once more so that you can start your application process.

Shopping for a house with a mortgage commitment already granted is one of the smartest things a prospective first time home buyer can do. When you do, both the real estate agent and the sellers know that you are a serious house shopper ? meilleur taux hypothecaire. This will also give you a great bargaining chip, since the purchase will move quickly if it doesn't need to be slowed down by the mortgage application process.