If you have been dreaming of being a first time home buyer in 2018 then you'll love this article.

I can imagine many first time home buyers have been working towards this goal for a long time.

Finally, that time has come after making money off your job and money making apps. The vision is coming closer to realization and you will soon have that dream home you have yearned for. However, there are things you need to know before making that decision and commitment to buy a particular home. This article brings to you seven tips that will be helpful for you as a first time home buyer.

7 Tips For First Time Home Buyers

1. You need a down payment, so start saving

Before you start wondering how long does it take to close on a home, first set a goal of how much you want to save. Make a sacrifice and discipline yourself to start saving early.

In this era of digitization, it is easy to track your savings using an app. The app that most personal finance experts recommend is Personal Capital. Get the free Personal Capital App to make sure you're on track towards your savings goal.

Find out from your potential mortgage provider on how much deposit is required, so that you will have raised it at the set time. Saving may require you to forego some of the expenses you have been having, for example, eating out on the weekends.

However, at the end of it, the sacrifice is worthwhile.

Explore any possible and viable way of raising the down payment, you can look in some of the best survey sites to make extra income as well.

2. Pay off your past debts

You want to have minimal debts so that repaying your mortgage will be easy.

Clear any credits.

More so, avoid taking on any lines of credit that may affect your opportunities to qualify for a mortgage.

3. Research on the available homes in your property

Do not just fall into a trap of a single aggressive marketer.

Explore as many options or panel apps, to feel comfortable before making a final decision.

While the price may be a major determining factor, quality, security, neighborhood are among other key determinant factors.

Take time for example over the weekend, to visit various areas where there are houses for sale.

4. Explore on Mortgage options

Check out for what different mortgage products (VA, Conventional, ARM, etc) there are for you by checking websites like Quicken Loans or LendingTree.

Consider providers who have a proven track record in the mortgage industry and can get you pre-qualified for your desired mortgage loan amount for the best interest rate.

Want to see if you qualify for a mortgage? You can easily compare offers from up to 5 mortgage lenders at LendingTree in just a few minutes.

5. Check out for Seller’s Credibility

Do not just trust the seller, whether it is an individual or a real estate company. Do your own research.

Check out the authenticity of the property agents or seller’s documents regarding the property at hand.

The real estate sector can sometimes be filled with con people who pretend to be genuine, however, they target new buyers.

Take caution and involve your lawyer in the process.

6. Keep in mind your needs

Consider your housing needs in regard to the size of your family. Other important factors include access to your work, schools, and shopping areas, among others.

8. Save some money for moving in and settling

While buying a house is such an exciting process, you have to save some money for after buying.

You will most likely exhaust your savings in the process of buying the house.

But remember you will incur expenses such as transport while moving in.

In this regard, it is a great idea to set aside some money including for food after getting into your new home.

9. Don't fall for these mistakes

Since you are about to make the biggest purchase of your life, take a few minutes to watch this short video on first time home buyer mistakes to avoid:

Summing it up

Though the process of buying a home for the first time may seem tiring and challenging, it does not surpass the joy of owning a house and being a first time home buyer.

Want to see if you qualify for a mortgage? You can easily compare offers from up to 5 mortgage lenders at LendingTree in just a few minutes.

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