To qualify for a conventional mortgage you will need a down payment of 25% or more. However, you can qualify for a low down payment insured mortgage with a down payment as low as 5%.

Secondly, you will require money for closing costs (up to 2.5% of the basic purchase price).

If you want to have the home inspected by a professional building inspector – which we highly recommend – you will need to pay an inspection fee. The inspection may bring to light areas where repairs or maintenance are required and will assure you that the house is structurally sound. Usually the inspector will provide you with a written report. If they don’t, then ask for one.

You will be responsible for paying the fees and disbursements for the lawyer or notary acting for you in the purchase of your home. We suggest you shop around before making your decision on who you are going to use, because fees for these services may vary significantly.

There are closing and adjustment costs, interest adjustment costs between buyer and seller and (depending on where you live) land transfer tax – a one-time tax based on a percentage of the purchase price of the property and/or mortgage amount.

Finally, you will be required to have property insurance in place by the closing date. And you will be responsible for the cost of moving.

Remember, there will be all kinds of things you’ll have to purchase early on – appliances, garden tools, cleaning materials etc. So factor these expenses into your initial costs.

The best way to find a real estate agent is through the referral of a friend or family member. Why is this the best idea, you may ask? Simply put, when you find an agent this way you know exactly what you are getting. Not only do you know that the agent is more than capable, but you can also ask the person who is referring questions that may be on your mind. For most people who are looking for an agent, this is much better than hoping that they find somebody who they will mesh with.

Of course, asking a friend or family member for a real estate agent referral is not always possible. If you are stuck, you should start by looking in your local phone book. This is only the first step, but one that you must take. Once you do this it is safe to say that you will have a large list of qualified agents in front of you. From there, good old fashioned hard work is the only thing that stands between you and making the proper selection. You should call at least five real estate agents on the phone, and from there explain your situation and see what they have to say. There is a very good chance that some agents will fit in with what you are looking for, whereas others will put you off from the second that you begin to speak with them. Once narrowing down your selection, you will then need to make a final decision on which agent is best for you.

There are tens of thousands of real estate agents spread out all over the United States. No matter where you live, you should be able to find an agent or two in your area that is more than willing to help you reach either your buying or selling related goals.