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Common Mistakes for First-Time Home Buyers

I recently had a friend to come to me about buying a house.  They later explained to me that they were frustrated with the entire buying process.  I asked him what was so frustrating, and his answer was not surprising because I’ve heard his complaints by other agents and clients I’ve worked with. 
Here are some tips to avoid common mistakes that new homers encounter during the buying process.

1. Ask detailed questions of your lender to get the best deal.  Remember, they don’t get paid unless you close on the deal. So, ask for all the perks you can get.

2. New home buyers don’t act quickly enough to make a decision and someone else buys the house.   Be prudent and perform your research ahead of time, so when it’s time to start submitting a contract you’re able to respond immediately.

3. Find the right agent who’s willing to help you through the home buying process.  Your agent is your friend and close advisor during the home buying process.

4. Make your offer look appealing to a seller.   Know how much you’re willing to spend and what your cut-off points are.  You may have to throw in a perk to make the offer more attractive.

5. Think about resale before you buy. The average first-time buyer only stays in a home for four years.   So, take into consideration if you’re able to sell the house in the future.  If the current seller is having a tough time right now it may be equally hard to sell yours in the future.

 


 

Posted in: Buying, Investing
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