You are a Denver first time home buyer. You are thinking about buying your very first home. Well I can tell you this, the time is certainly right. Prices are down, interest rates are down, sellers are more willing to negotiate and so on.

In realty, for most people there is no wrong time to buy. The time to buy is when you are ready. Home ownership has long been the American dream. In most cases it beats renting by a long shot. Notice I said most cases. First let's explore some reasons NOT to buy your own home (people that earn a commission selling homes won't tell you this).

1.You are a transient. I don't mean that in a negative way but let's face it, some people tend to move a lot. I am not talking about moving across the town but rather away from the city. If you think you may be moving in the next two years I believe you should not buy just yet.

2. You are irresponsible with money. Let's face it; we all can be a little irresponsible with money at times. Some of us are worst than others. If you struggle making your rent, car, utilities, insurance, or any other payment on time this will prevent you from owning your home. Why? Because when the lender looks at your credit report your history will be revealed and one of the lenders four criteria for loaning money is the borrowers' "Willingness to Pay". (now you know why your credit report is pulled. Again, don't despair. Often times credit reports can be repaired and you do not need "stellar" credit to buy.

3. Your income (job) is unstable. Now this is the big one. If you do have a job in America it will ALWAYS be unstable. People are let go all the time without warning and you are no exception. I remember, you would have to continue to pay rent or move in with relatives if you lost your current job anyway. The key is to make sure you understand you will NOT be moving into your "dream" home your first time, this comes later down the road.

There you have three very important reasons why you shouldn't buy. Now let's briefly look at why you SHOULD buy.

• Your own home provides you with stability in your life.
• You are contributing to the community and neighborhood.
• It is a stepping-stone to building wealth (In other articles I fully explain why your first home, or any home you live in, is really not a good investment. It beats the heck out of renting but as investments go it is not as great as many would want you to believe),
• You have pride and flexibility to improve or shape it to your tastes, not the landlords.
• You may be able to receive tax deductions.
• The list goes on.

When you are buying a home I would recommend that you get pre-approved for a home loan first. . .

However, when it comes to buying your first home, I highly recommend that you seek out a Denver first time home buyer specialist first. Understand, most seasoned agents would rather list homes and avoid first time home buyers. Let's face it, you will require more attention and communication, you are at the beginning of your learning curve. A few agents have dedicated their entire lives to working just with first timers. A specialist can guide you through the finance process, is there to advise you, show you properties that you can afford, be a counselor (chances are that if you are buying with a partner you will have a few scuffles) and more.

When you start the interview process ask some basics questions:

1. How long have you been in the industry (don't shy away from new agents, they are eager to please and always have someone near by to help them with more experience)?
2. What is your specialty? Make them prove it, most agents are starving to death and will say anything to get the business.
3. And very important; do you understand Denver first time home buyer financing?

It is very important that you understand real estate financing. The home loan process will be the part of the journey that you do not enjoy. The rest will be the time of your life and create a memory you will never forget. Ask anybody if they remember their first home experience. Nobody forgets, even my 72 year old father remembers his first home and has long forgotten many others he has lived it.

Being a Denver first time home buyer puts you in a special class. You have decided to live the American dream.