I have always rented, but everyone keeps telling me that it’s a really good time to buy right now. Where do I start? -Maggie in Las Vegas

Step #1: Decide

Congratulations for taking the first step towards home ownership! I must agree, now is a wonderful time to be a buyer. Interest rates are low, and there are plenty of nice, family homes available in great neighborhoods like those in Henderson, Nevada. I believe that there are eight key steps to buying your first home – and deciding that you want to buy is the very first (and sometimes most difficult) step.

 Step #2: Hire a skilled agent

Step number two is to hire a knowledgeable agent. Don’t just react to the expensive advertisements or call the first number you see on a sign. Remember, this is a relationship that may (and should!) last a very long time. Look for someone that has experience both in the local market and with the type of home you seek. Also look for someone that you feel you can trust and who will answer your questions.

Step #3: Secure financing 

Once you have a good agent, he or she may recommend someone to help you begin the process of securing your financing. Your best bet is to get pre-approved so that you know how much home you can afford. It’s also a very important step because our market here in Las Vegas has such low inventory. It is imperative that your financing is ready to so that you may make an immediate offer when you find the home you want.

Step #4: Go shopping

The fourth step is the fun part – shopping for your new home. Your real estate agent will be able to help you find your dream home by asking important questions about your lifestyle, interests, hobbies, and other factors that go into finding you the perfect home.

Step #5: Make an offer

Once you have found a home you like, the fifth step is to make an offer. (see “3 important factors when making an offer on your new home”) Your agent will help you here, too, by structuring your offer in such a way that it has a better chance of being accepted by the seller.

Step #6: Inspect and research

The sixth step is very important and worth the extra time and expense. Once your offer is accepted, there is a period of time before closing that you want to spend in due diligence. During this time, you will perform an inspection to uncover any major defects which can be negotiated for repair or compensation at closing. A professional inspector should give you and your finance company a full report. The title company you and your agent selected will search for any liens or encumbrances on the property, as well. Sometimes, these things will make or break the deal.

Step #7: Close

The seventh step is often the most emotional and stressful part of the entire process. Because you hired a skilled agent, much of the stress should be lifted as they shoulder the largest parts of the paperwork and follow-up. Meanwhile, to make this process as smooth as possible, your job is to do the following:

• Stay in control of your finances

• Return all phone calls and paperwork promptly

• Communicate with your agent at least once a week.

• Several days before closing, confirm with your agent that all your documentation is in place and in order

• Obtain certified funds for closing

• Conduct a final walk-through

Step #8: Protect your investment

While step number seven may seem like the final step, it is only the last step in the purchase process. Now that you are an owner, you must take it one step further by protecting your most valuable investment. Of course, you want to observe common sense such as regularly changing the air filters or adding a fresh coat of paint when needed. There are many other things that you may not realize are part of home ownership. After the excitement of moving wears off, continue to be diligent. Create a maintenance check list so the little problems don't turn into big ones. Again, your agent should help you do this by providing such a list and possibly referring you to trustworthy contractors, as well.

Enjoy! Follow these steps, and your first time buying a home should not only be a good experience, but a sound investment.