If you are doing some family planning and need to buy a house or just looking for something new, buying your first home can be exciting but there is a lot to know. Buying a home will depend on real estate laws and customs where you are located but there are basic steps that every first homebuyer needs to accomplish.

Step 1- Money management

Establishing credit is very important especially when you are looking to purchase a large investment like a house. Your credit reports reflects how you are doing with money management. After marriage you will need to study your spouses and your credit report and your financial history so you are familiar with it before applying for a mortgage. These reports will be needed for the mortgage approval process in finding out the interest rate and other loan terms.

Step 2- Familiarize yourself with the mortgage industry

Do your research. Money management isn