The Biggest Mistakes That First-Time Home Buyers Make

Posted by Jennifer Dollar on Thursday, July 12th, 2012 at 10:31am

house_400First-time home buyers often make mistakes when looking for a new home simply because they do not know any better.  This can cause them to become disenchanted with the dream of home ownership but can help them to learn important lessons along the way.  To save you some of the pain of learning through experience, here are the biggest mistakes that first-time home buyers make when trying to find a home.

Not Picking The Right Agent

This can mean that you pick the wrong agent or that you opt to go without an agent at all.  The wrong agent won't have the right experience in the right area or may not have the right track record of success.  Or they may not be the right match for you simply because of personality issues. 

Not hiring an agent at all will leave you relying on your experience, and being a first-time home buyer, you don't really have any.  You want an agent because the right one will have been through this process many times and will be able to guide you to the right home.  In short, you want a realtor from Realty Executives.  At Realty Executives, our realtors can help you get through the process with as little hassle as possible.

Not Getting Preapproved For A Mortgage

You want to do this even before you start house-hunting because it will tell you exactly how much home you can afford.  It can save you a lot of guessing and a lot of time spent looking at homes that aren't in the price range that you are aiming for. 

At the same time, this preapproval will have you in the perfect position to bid on the right home when you find it.  Having to go back and get approved after you've found a home might be the reason why you lose that home. 

Do yourself a favor and talk to a lender before you do anything else.  This will give you a better vantage point from which to start your efforts to find a home and a better chance of getting the new home that you want when you find it.

Not Accepting Less Than Perfection

Don't misread this one.  You do want to buy a new home that you can fall in love with, but realize that the home that is perfect for you in every way may not be out there.  Or it may not be in your price range. 

Some first-time home buyers are always afraid that the next home might be better, so they prolong the process and keep looking.  If you find a home that has everything you need and a lot of the things you want, then you should give that home some serious consideration.  You want to aim more for perfect enough than for absolute perfection.

First-time home buyers make a lot of mistakes, but these are the biggest ones.  They are crucial mistakes to avoid if you want to have the new home buying process be as pleasant as possible.  Buying a home may be a stressful task, but avoiding these mistakes will help to keep you from making it more stressful than it has to be.



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