Let’s face it. The prospect of buying your first home can be, well, a bit daunting. That’s to be understood. It’s a big commitment. It’s not like renting someplace. If you don’t like your rental, you can move somewhere else once your lease has expired. But not with a mortgage. If you decide you no longer want to own the home along with the mortgage that goes with it, you can’t just walk away. Well, you can, but not without some very bad things happening to your credit report. And the mortgage company won’t just sit back and let you walk away. You’ll be liable for that home loan until it’s paid off or you refinance and replace it with another, or you sell. So, it does take some thought.

It can take a little self-restraint. If you now live in a rental property, no doubt you’ve received your fair share of flyers that want you to contact that person to buy your own home. Once word gets out that you’re thinking of buying, here comes the onslaught. That’s okay, though. That’s how people make a living, by selling real estate. You’ll certainly get your fair share of promotional material, from your bank or credit union on a semi-regular basis telling you about the virtues of home ownership. And they’re right. There are a multitude of advantages of owning compared to just living in an apartment and paying rent to some landlord. You might even get yourself kinda caught up in the excitement of starting to look around for your very own home. But don’t get too caught up. Step back and take a breath.

Owning your own home and taking out a mortgage is a big commitment. A good commitment but a big one, nonetheless. Weigh everything. Take your time. It’s certainly not something to rush into and don’t let others try and rush you into it, either. Take some time. Once you do decide you’re ready, things will start to move pretty fast. Work with your real estate agent and provide that agent with your intentions. Don’t work with anyone too pushy. The good agent will work at your pace, not at theirs. Yes, they don’t make money until they sell a home, but the agent must also respect your own pace. Buying and financing a home is a big first step, and a step that takes a lot of commitment. Slow down. Take a breath. But at the same time enjoy the ride.