Can’t Decide Whether to Buy a Home? Bring in the Pros

If you are leaning toward buying a home but can’t decide if it’s the right move to make now, then you may want to consult some professionals.

There are a variety of ways to learn about the process of buying a home and the responsibilities of homeownership. When you take a class or consult a professional you not only educate yourself about what it takes to buy a home, you also get a stronger understanding of your own emotional and financial readiness to become a homeowner.

Here are five ways you can learn from the pros:

1. Attend Homebuyer Seminars

Real estate companies, lenders or others with home-buying expertise will schedule a homebuyer seminar to provide some initial information to renters. Sometimes new home communities will offer a seminar to entice potential buyers to learn more about the development along with the process of buying. Typically, these seminars, where you can pick up general information about buying in your community, are free or low-cost and last a couple of hours.

The leaders of these seminars often include a REALTOR®, a lender and a representative from a title company. In some cases multiple REALTORS® will be in attendance to present educational material to potential buyers. The only disadvantage here is that you won’t always have a chance to ask individualized questions, but you can usually follow up later with any of the professionals for a private consultation.

2. Attend a Homeownership Fair

Many local governments sponsor a day-long conference or fair to encourage homeownership. Often you can learn about new home communities, home financing, home remodeling and homebuyer programs at these events, which often have displays with information along with a choice of educational sessions. Sometimes you can also meet one-on-one with a lender and have your credit checked so you can get an idea of whether you can qualify for a loan and how much you could borrow.

3. Take a Homeownership Class

A more comprehensive approach to buying a home is available through homebuyer education courses, typically offered by your state or local government or a nonprofit agency. These classes, often offered all day on a weekend or over one or two evenings, provide extensive financial information about budgeting and saving, financing your home and maintaining it. Some special homebuyer programs such as low down-payment loans or low-interest loans offered by your state government require these classes, which are often free.

4. Consult a Lender

Most lenders offer a free consultation to discuss your individual financial profile and to educate you about your loan options. Even if you’re not ready to buy, a meeting with a lender can give you good information about what you need to do to prepare to buy a home in the future.

5. Consult a REALTOR®

REALTORS® are generally willing to sit down with potential buyers to educate them about the process of becoming a homeowner. There’s no charge to talk to a REALTOR®. You may want to look for someone who has a reputation for working with first-time buyers so you know they are particularly good at explaining to novices the nuances of moving from renter to buyer.

Whether you are a year or more away from making a move or you are thinking that this year could be the one in which you buy your first home, getting professional advice is always wise.