Are you sick of living in an apartment? Tired of not having space to do whatever you want? Would you like to stop answering to a landlord when things go wrong in your house? Sounds like you’re ready to purchase your first home!

Purchasing your first home can be a daunting experience. You have to get a realtor, look at tons of houses, determine an appropriate budget, negotiate a deal, and pay a mortgage. It’s a lot to take in, but with the proper tools and knowledge you’ll be confident and capable of finding a great home at a great price for you. The following are a few things to consider before you start the home-buying experience.

Use A Mortgage Calculator 
Most first-time buyers are not able to pay cash for their home, and are likely to get a mortgage. This is a monthly payment that is calculated based on the value of your house and how much you’re preapproved for by the bank. Before you begin looking at homes, use a free payment calculator online, or talk to your local bank to see how much you should be paying monthly. Determining how much you can spend will affect what houses you look at and will set the budget for your future home.

Look Into Closing Costs 
Closing costs on a home include additional fees from lenders, settlement fees, possible homeowner’s association fees, and more. These are all added to the cost of your mortgage. Although you’re probably not paying a large chunk of your mortgage upfront when purchasing a home, the additional closing costs can add up quickly and make the initial purchase price much higher than anticipated. When you determine what you can pay monthly, look into how much money you have saved in addition to that, and set your closing cost budget accordingly.

Remember the Big Picture 
Purchasing a home is an exciting process, but try not to get wrapped up in the look and feel of a home. Try to keep the home’s age and possible repairs in mind. The cost of a home can escalate quickly if things like structural, electrical, and plumbing issues come up during a home inspection. With no landlord to lean on for help with these problems, you will have to pay for any issues on your own, which could eat away at your bank account.

By keeping these tips in mind you’ll be able to find a beautiful home at a great price, making your first home-buying experience as stress-free as possible.