How to Shop for Your First Arizona Home

When buying an Arizona home, it's tempting to just go out and start shopping. After all, that's the ultimate goal and the most fun part. But doing your homework first will pay off in less stress and more savings. If you're house-hunting, here are tips to get you started.

1. Know how much you can afford

This should be the first step in buying a house so you don't waste your time, or a real estate agent's, by looking at Arizona homes that you can't afford a mortgage on. You need to factor in Arizona property taxes, maintenance, utilities, insurance and possible homeowner-association dues. Get preapproved to figure out how much of a home loan you can afford.

2. How long will you stay in the AZ home?

The longer you live in an Arizona home, the better the savings because you're spreading out the upfront costs of buying a house. They include a real estate agent's fee, closing costs, inspection fees and loan fees -- which can add up to 10 percent of the sale price, or approximately 18 months of rent.

3. Get a loan

Getting preapproved for a home loan helps make buying an Arizona home faster and easier, especially if there are multiple offers on a home. Your mortgage lender will be able to give you an estimate of how much money you'll need in closing costs. Then you'll know how much of your savings to set aside for a down payment, which will help determine how much your loan -- and the monthly mortgage -- will be. Find an Arizona home with 0$ down.

5. Shop around

Every Arizona home buy requires sacrifices, and you won't get everything you want. There are many factors to consider, such as how much room you need. Does it have to be a single-family home or will a condo work? Is it near transportation, good Arizona schools, parks, shopping and your other essentials? Does the home have the amenities you want, such as a fireplace, dining room, backyard, pool or deck?

Buying an Arizona house, whether your first home or a few down the line, is one of the most stressful and expensive transactions you'll ever undertake. But a US Preferred Realty agent can make the process easier with their knowledge of the Arizona home market.