Chris Fritch’s guide for first time homebuyers in Minnesota.

For first time homebuyers in Minnesota, there are many facts and guidelines you should know.  I have created a list of 10 things you need to know as well as things you probably didn’t.

1. The first thing you need to do is find a mortgage officer.  See what you can qualify for before you start looking. 

2. What you are qualified for is not always the listing price you should be looking for. It is extremely smart to buy within your means to ensure that when economic times are tough, you can still make your payments worry-free.

3. Buy, don’t rent. Buying a house is not much more expensive than renting an apartment or townhome, plus, you build equity so later in life you can get qualified for purchases in the future.

4. Find an agent you can trust. Buying a home will be a big step in your life. Know that they have your best interest in mind.

5. Explore your options with an open mind. Sometimes the perfect house isn’t exactly what you were thinking. Equity can be gained rather quickly and a move up home might be in your near future!