How to negotiate a house price effectively: 101 guide

Buying a home can bechallenging for a first-timer. After all, there are so many steps, tasks, andrequirements, and you may be anxious about making an expensive mistake. Butfirst-time homebuyers enjoy some special advantages created to encourage newentrants into the real estate market.

To demystify the process,so you get the most out of your purchase, here is a rundown of what you need toconsider before you buy and what you can expect from the buying process itself,plus tips to make life easier after you buy your first home.

KEY TAKEAWAYS

• First-time     homebuyers, as defined by the U.S. Department of Housing and Urban     Development (HUD), can get help from state programs, tax breaks, and     federally backed loans.
• Consider     the type of residence that will serve your needs, what you can afford, how     much financing you can secure, and who will help you conduct your search.
• Buying     a home involves finding the property, securing financing, making an offer,     getting a home inspection, and closing on the purchase.
• National     and state first-time buyer programs may be useful if you can't afford a     high down payment.
• Once you’ve moved in, it’s important to maintain your home and keep     saving.

‍