Avoid These Common First-Time Home Buyer Mistakes

By

National Home Search
Buying a home for the first time can be cumbersome. You’ve never done it before, so it’s normal to feel a bit overwhelmed. Luckily, we’ve pulled together some of the common mistakes first-time homebuyers make. Learn from them, and you may have a smoother home buying process.
·         Forgetting About Costs:
Your mortgage will probably not be the only cost when it comes to buying a home. Smaller costs like property insurance, taxes, electric and water bills, and other fees may start to pile up. Before buying a house, you may need to look further into your savings to figure out if you can pay for all of these additional charges.

·         Looking for a Home Before the Loan:
Once you find a house and decide to buy it, you don’t want to spend time wondering if you can afford it. Knowing your budget, and that you are a qualified buyer before you begin your search may make the process easier and more efficient. Once you decide that it’s time to buy a home, get pre-approved for a loan. Contact your Century 21 real estate agent to talk about getting pre-approved for a loan that suits you.


·         Not Hiring Professionals:
Moving isn’t as simple as picking up your stuff and renting a van. It takes a village to move into a new neighborhood. Your team can only be as good as your weakest link, so you may want to ensure that you have only the best players. Get your home buying team in place before starting the search.  A Century 21 real estate agent can help you put the right team together.


·         Being Too Picky:
There’s nothing wrong with knowing what you want when it comes to buying a home. But if your “must-have” list gets too long and too specific, you may end up looking for your perfect house for a very long time. Also, remember that you can make changes once you move in. It may be wise to take the time to figure out what you really need versus what you want. If you are unsure where to start, our checklist may help!


·         Lacking Vision:
Some of the open houses you attend may not look move-in ready. But plenty of homes have hidden potential. When you look for a home, try to look past the 70’s shag rugs and lava lamps. Imagine what the home will look like after you’ve moved in with all of your own belongings, or try to envision the structure of the home without the stuff inside it. This will be an important skill, especially if you’re looking to buy a fixer-upper as your first home.

·         Ignoring the Future: 
If you plan on living in this house for a long time, you may want to think ahead. You may decide to have kids in a few years, and then you’ll have to worry about another set of questions. Will there be enough bedrooms? Is the house located in a good school district? These may be things to think about when buying your home.
So whether you’re just starting to think about buying your first home, or you’ve already spent some time looking, there may be a lot to learn from this list of mistakes.
Source: century21 real estate blog.

 For all your real estate needs in Greater Atlanta, GA visit: Century 21 real estate agent's website.

All Rights Reserved. Do not republish without written authorization. 

Popular posts from this blog

Selling My Home

By
Image
  Pricing your home accurately is the most important part of getting a quick sale.  If your home is overpriced it will sit on the market.  The longer a home sits on the market the more difficult it becomes to sell.  Some sellers want a set amount for the sale of their home. However, the price a seller wants to get is not the criteria used to set the asking price for a home.  A home is worth what a ready, willing and able buyer is willing to pay for it, not what the seller wants to net whether there is a loan payoff or not.  It’s important to know what similar homes in your neighborhood have sold for in the current market, and how long they stay on the market.   After coming up with a realistic asking price the next phase is to prepare the home for showings to prospective buyers.  A home that has been occupied has normal wear and tear and can be a little clutter.  Start by decluttering.  Clean underneath kitchen and bathroom cabinets...
Read more

Zillow's Actions Contribute to the Housing Affordability and Inventory Crisis.

By
Image
  In the labyrinth of the modern housing market, Zillow has long been regarded as guiding light, offering home seekers a digital haven to explore properties with ease. However, beneath its user-friendly interface lies a more troubling narrative—one marked by past actions that have significantly contributed to the current housing affordability and inventory crisis. At the core of Zillow's controversies lies its ill-fated foray into iBuying, a practice where the company purchased homes directly from sellers, often using its proprietary Zestimate tool to evaluate property values. The Zestimate heralded as a revolutionary home pricing estimator, has come under fire for inflating house prices, thereby exacerbating affordability issues. This artificial inflation not only distorts market dynamics but also perpetuates a cycle of unattainable prices, leaving aspiring homeowners stranded on the sidelines. Moreover, Zillow's iBuying misadventure had more insidious consequences. When t...
Read more