Buying a home is not an easy task. In fact, for first time buyers, there are few things more confusing than the process of buying a house from start to finish, and many first timers don’t know exactly where the start of the process actually is. Here are a few tips that will make life easier for the first time home buyer.

Say, for example, that you are interested in investing in Illinois real estate. You either are looking for a new home for yourself and your family, or you just like the investment potential. The very first thing you need to do before looking for the right Illinois real estate investment is take a look at your finances and determine how much you can afford to spend.

There are several resources available to help you calculate your mortgage and figure out what you can afford to spend on your Illinois real estate investment, but for simplicity sake we’ll stick with the formula of three times your annual income. Of course other factors can affect this formula enabling you to afford more or less, but it is a general rule.

You should also meet with your chosen lending institution to research interest rates on mortgages, find the best rate available, and try to get pre-approved for a loan. Getting pre-approved for a loan is one on the best things you can do going into the house purchasing process, it gives you and your seller confidence knowing you can pay exactly what you say you can.

Once you have determined how much you can afford to spend on a house, you should hire an Illinois real estate agent. Some people chose not to hire a Realtor, believing their services cost too much, and end up struggling through the house searching and purchasing process all by themselves. This is unfortunate because it is not the buyer, but the seller who pays a real estate agent, so there is really no drawback to getting an agent working for you, and you also get the benefit of their expert Illinois real estate advice.

There are several good reasons that Illinois has become one of the most populous states in the country. First, the state economy is very strong and varied. Second, the weather and the landscape are both beautiful. And third, there is enough diversity throughout the state to attract residents from all walks of life. Before you start looking for Illinois real estate, it would be wise to know a little background information on the three main regions throughout the sate: Northern, Central and Southern Illinois.

Northern Illinois
As home to almost seventy-five percent of the state population, Northern Illinois is definitely the most popular region. This is largely due to the business districts, research facilities and educational institutions in Chicago though. For example, about sixty-six percent of the people in northern Illinois live within the boundaries of Chicago land. Chalk full of employment, entertainment and beautiful beaches, parks and neighborhoods, it isn’t surprising that Chicago draws such a large crowd.

There are parts of Illinois that cater to country living over city lifestyles though. For example, northwest of Chicago, home buyers will find charming old villages like Galena and Long Grove. Nestled among rolling hills and tiny valleys, these areas are characterized by their historic buildings, small-town atmospheres, covered bridges and scenic landscapes. Some Chicagoans even buy second homes in here.

Central Illinois
The Central region, which is also known as “the Heart of Illinois,” is known for its small towns and mid-sized cities. The primary economic industries in this area include manufacturing, agriculture, and education. Wind farms are also starting to sprout up across central Illinois. If you are a fan of Abraham Lincoln, you might be interested to know that Springfield is also located in this area.

Southern Illinois
One of the most attractive characteristics of Southern Illinois is the warmer weather it enjoys. The topography is also more varied than the flat, long plains that cover most of the state’s geographical area. Small oil deposits and coal mining are the resources that drive economic production in the region.