Buying a home is one of the largest financial commitments a person can make in his or her lifetime. It's especially critical for first-time buyers to make informed decisions about the investment that they are about to make.

 B4 professionals offer these tips to first-time homebuyers to help make the process easier.

Define your wants versus your needs. Making a list of wants and needs before beginning the search for a home can make the entire process less overwhelming.

Check your credit rating. Being approved for a mortgage is critical and a very easy process.  Having a pre-approval in hand affords a buyer strength in negotiating, particularly important in a highly competitive marketplace, which many first-time home buyers encounter."

Investigate the neighborhood. Where are the schools and places of worship? How far is the nearest hospital or grocery store? Is commercial garbage collection available or do homeowners dispose of their own trash? These are basic, yet important, questions that some first timers may not think of until after closing on a property.

Insist on a home inspection. Attend property inspections, be aware of environmental concerns and ask questions. A small investment of time and money could save buyers a lot of headaches down the road. Look for a property with a home warranty.  Home Warranty offers a comprehensive insured home warranty that decreases the likelihood of a sale failing due to unexpected surprises.

Get help with the details. Coordinating these and the many details of a move can be overwhelming for even the most experienced homebuyer. Look for a real estate company that can help coordinate related services. 

Property Specific

Here are ten important questions you should ask your Sales Associate and why you should ask them*

1.     HOW LONG HAS THE PROPERTY BEEN ON THE MARKET?
Why: The length of time a property has been on the market may indicate the seller's willingness to negotiate. If the seller is making two house payments they may want to cut their losses and move on. 

2.     HAVE THERE BEEN ANY PRICE REDUCTIONS DURING THE LISTING PERIOD?
Why: The amount of any price reduction, as it relates to the overall purchase price, may indicate the seller's desire to attract an offer. The price of the house could have been too high to begin with and now the house is at a more reasonable price.

3.     HAVE THERE BEEN ANY OTHER OFFERS ON THE PROPERTY?
Why: It will be helpful to know what offers have been turned down and for what reasons.

4.     WHAT IS THE MOTIVATION OF THE SELLER?
Why: Motivation is a key element in any negotiation. As an example, if the seller has already purchased a new property, your ability to close quickly may be an attractive element of the negotiation.

5.     WHAT PERSONAL ITEMS ARE INCLUDED IN THE SALE?
Why: Anything the seller is willing to leave behind that you won't need to buy when you move in has real value. Consider those items in your offer.

Neighborhood Specific

1.     WHAT IS THE PRICE RANGE OF SOLD PROPERTIES IN THE AREA?
Why: This information is important since it will indicate the top and bottom of that specific market.

2.     WHAT IS THE AVERAGE TIME ON MARKET FOR PROPERTIES IN THIS AREA?
Why: Short market times may indicate a seller's market. If this is the case you may face competition from other buyers.

3.     WHAT IS THE LIST TO SALE PRICE RATIO IN THIS AREA?
Why: This information will indicate seller's past willingness to negotiate and by how much.

4.     WHAT IS THE AVERAGE SALES PRICE PER SQUARE FOOT OF RECENT SOLDS?
Why: This approach to establish value works best in P.U.D. and/or where there are similar homes, lot sizes and improvements.

5.     WHAT OTHER KNOWN FACTORS ABOUT THE PROPERTY OR NEIGHBORHOOD COULD AFFECT VALUE?
Why: Review the Seller's Disclosure Statement very carefully with your Sales Associate.

Final Recommendation

If you will be financing the property, get pre-proved for a mortgage prior to making your offer. This will show the seller your commitment and ability to perform. Pre-approval can be extremely important in the sellers' market.