Buying Your First Home? Who Do You Need on Your Side?

If you're setting out to buy your first home, there are some people that you might want to consider hiring. Your house is usually the biggest investment you make in a lifetime, so you want to be sure it's done properly and it's a smart move for you.

Here are a few people to consider when you decide to go out house hunting, and what to expect.

1.A real estate agent. Not just any real estate agent, but a buyer's agent. This is a person that will represent your needs and help you find what you want. You can call the listing agent on a house that you like, but the listing agent has a contract signed with the seller to represent them. This means their fiduciary duty is to the seller. Having a good buyer's agent, that can help your through the process, will take a lot of stress off of you as you work your way through mountains of paperwork. He or she can walk you through each step along the way, and explain everything. In most markets, you won't have to pay for your agent; their pay will come directly from the transaction.

2.A mortgage broker. Getting a pre-approval letter is so important! You want someone reliable and trustworthy that can talk over your financial needs with you. Someone that can point out the pros and cons of each program that is available, and suit one to your needs.

3. A home inspector. Home inspections are important because they can point out potential defects in the property that might affect your decision to buy it. If you find that the house has a structural problem for instance, it might be more work than you are willing to do, or can afford to do. They can also help by educating you on the proper maintenance and care of your home.

4.An attorney. When you're spending $200,000 on the cost of a house, a few hundred dollars is a drop in the hat to make sure you're represented properly. An attorney can represent you with all the paperwork you'll be required to sign, as well as problem solve if issues come up. There is a lot of legal paperwork involved in buying a home, and you want to make sure all of your bases are covered. Your buyer's agent can explain things to you, but the majority of them cannot make legal changes to any documents. There are also standard changes to paperwork, such as a Purchase and Sale agreement, that an attorney can make for you to protect you in the event of a problem arising.

Buying a home can be a stressful and emotional experience. Have a team of people on "your side" when you're ready to make the commitment on buying a home. It will pay off in the end, on both your finances and your emotions!