"Where do I start"?

I hear that a lot from first time buyers. My answer is always the same - start with financing, not looking at homes or making offers!

First - you need to get your financing in order. That means going to the bank to see what you qualify for on a mortgage. From there you determine what payment you can comfortably afford, that is not usually the amount you can qualify to borrow.

You need to consider the other costs involved in purchasing a home like down payment, closing costs, inspection and funding your escrow account. Next look at the costs of being a homeowner - things like homeowners insurance, taxes, maintenance, yard care, snow removal, updates you want or need to make, utilities, and other things when determining what you can comfortably afford.  There are a lot of great mortgage calculators on the web that can help, but do not click on any of the loans shown there. Getting a loan locally is usually a much better idea.

The Storm Lake and surround area real estate market is very fast, that is because we do not have much in the way of inventory, but we do have a lot of buyers. That is what is called a SELLERS MARKET, and in a seller's market it is not unusual to have more than 1 offer on a property. What does this mean to a buyer, lots of competition, so you need your mortgage pre-approval letter to be able to show the seller you are serious and are ready to buy.