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Buying your first home is an exciting yet daunting task. There are many steps throughout the homebuying process, and several important decisions need to be made by the buyer. Continue reading and discover three decisions you will need need to make before you can purchase your first home.

What is your budget?

This arguably the most important consideration when a person goes to purchase a home. Because your budget is going to dictate several aspects of your home purchase, you need to set a clear budget before you dive into your home search. Many financial experts believe that your entire mortgage payment should not exceed more than a quarter of your gross income. 

How long to do you plan to stay?

Most people do not stay in their first home for the rest of their lives. While it can be challenging to predict the future, you want to have some idea of how long you intend to stay in the home. Many financial experts recommend staying in your first home for at least three years before you move again. This is because it usually takes homeowners a few years before they can pay off a chunk of their mortgage. 

Do you have the right real estate agent working for you? 

If you want the home buying process to go as smooth as possible, take the time to choose the right agent. They can make a considerable difference in the amount of time it takes to pair you with the right home. Be sure that the agent understands the local market and appreciates what you are looking for in a home. Don’t be afraid to speak with multiple agents before you decide which one is right for you.

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