"Property Virgins"

I know the term "Property Virgin" sounds a bit kinky, actually it's a new series on HGTV from Canada about first time home buyers, but if you think about it, "property virgin" hits the nail on the head. First time home buyers are "virgins", that is they are about to make a huge commitment, in an area they probably don't have a lot of experience. If you are a first time home buyer, here are a few of the things you should be aware of:

1. Check out the different areas of your town, are you looking for an area populated mostly by mature homeowners or young families, are there a lot of apartments, car washes, convenient stores etc.. Do you want an area close to downtown or out in the suburbs, is a neighborhood park important?

2. Be sure to ask for a Seller Disclosure Statement. This should tell you anything the present homeowner (good or bad) is aware of about the home.

3. Once you have chosen a home, be sure you get a home inspection. This will insure that you are making a wise investment, and should reveal any problems you may encounter with the home. For example, are there termites, is the plumbing and electrical wiring up to code, will the roof last another 5-10 years or does it need to be replaced now, is the property structurally sound etc...

4. Working with an established realtor can help you with all of the above and provide comps of each area you are interested in to be sure the price of any home you consider is in-line with other homes that have sold in the area recently. A realtor along with a mortgage lender can help determine which price range would be best for your current situation, so that you don't end up biting off more than you can chew!

These are just a few of the things you should consider when buying a home for the first time, or for that matter the second or third time!