how do you go about purchasing a house?

Since the credit market is frozen right now use the time to take steps to shore up your credit and increase you credit score if you can. You should have a savings account that you regularly make deposits to. It doesn't have to be a lot, just regular. If you don't have a credit card, get one. Make small purchases using the card and pay off the balance each month. If you already have multiple credit cards and are unable to pay off the balances each month, start with the smallest one and pay it off. Then put it in a drawer and don't use it while you work on paying down the others. Make sure that you make all of your payments on time. When you are ready to buy a house you need to make sure that you stay within your price range. There's no point in having your dream home if you end up losing it because you can't make the payments. When the credit market loosens up there will be many houses available for sale and there are a lot of programs designed to help first time home buyers. Use a real estate agent who has been in business for a while to help you in your search and get yourself pre-qualified for a mortgage so you know what you can afford and what your monthly payments will most likely be. A real estate agent costs a buyer nothing and can direct you to any programs available to help you get into your house. Also, have your property taxes included in your mortgage. I did that with my first house...the money was kept in an escrow account and the mortgage company paid the taxes. This time around I chose to take care of it myself and it's not fun to get that tax bill every year and have to take the money out of my bank account. Most of all, be patient. You want a nice house but you also want a nice neighborhood and good schools for your daughter.

I was 29 when I bought a house by myself. I wasn't a single parent but still a single person and it was a bit frightening. It was a great investment and I've had wonderful memories of the house now seeing as I'm married and have a son. Before I bought my house I took a serious look at my income and decided how much of a house I could really afford. I cleaned up my credit report and paid off all my credit cards. I looked at houses which were in my price range for the house and the taxes combined. I also looked at the neighborhood - do I want a well traveled street or something a bit more quiet. Do I want neighbors who have wild parties at all hours every weekend? Or do I want a family oriented neighborhood who watch out for one another? I got a first time home buyers' loan. I went to the bank that I had my accounts with at the time for what they could offer for housing. That's a good place to start. I hope this helped you! Good luck!

I think its better you wait another year and then buy your house.In the days it is very difficult to get loans.also the property rates increase day by day.It is better you buy a house with good environment.Your plans about your house is very good.You will definitely get a new house for you and your family.

There are programs to help first time home buyers. They can involve opening a savings account in which they match dollars to a certain point and require you to take classes. It would be worth looking into.

Well i wished for a dream home. And i got it recently. I got little amount for it and rest through loan. I am happy i got my dream home near my farm. Investing on home is life long asset for us and kids.