AVOIDING FIRST TIME HOME-BUYER MISTAKES

(April 26, 2018 )

I’ve helped hundreds of families find their homes over the years, and in that time, I’ve seen lots of first-time buyers make mistakes that are avoidable. Buying a home is a big investment, so you want to do it right! From spending more than your budget allows, to taking on more renovations than they can handle, there are many problems that a professional Realtor can help you avoid.

Things to Keep in Mind:

Don’t Fall in Love at First Sight
  • Does the house have good re-sale value?
  • Will you need to do more renovations than you’re willing to do or can afford?
Don’t Skip a Property/Home Inspection
  • Many issues with homes are not obvious to the untrained eye. A professional inspector can give you a thorough overview of the condition of the property/house.
  • An inspection will let you know if you need to invest more money in the property beyond the purchase price.
Shop for the Right Realtor for You and Hire a Professional
  •  Not every realtor is right for every person. Shop until you find one you like and trust, and who can provide references.
  • A professional Realtor will guide you through the home buying process and protect you and your money.
Get pre-approved for a Loan
  • Shopping for a home without knowing what you can afford can lead to disappointment when you can’t afford a home you fall in love with.
  • Sellers prefer to accept offers from people who are already pre-approved.
  • Keep in mind the hidden costs of buying a home – appraisal fee, credit report fee, escrow fee, notary/lawyer fee, homeowners insurance, property taxes, inspection, moving, etc.
  • Go over your monthly budget and figure out what you’re comfortable spending per month on a mortgage. Just because you are pre-approved for a certain amount does not mean you need to use the entire amount! 

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