Many first-time home buyers are anxious, excited, and prone to making some common purchasing mistakes. If you are getting ready to buy your first home, avoid these mistakes to ensure your transaction goes smoothly:
- Not calculating all possible expenses—Many first-time home buyers assume that the only cost they will have to manage once they purchase their new home is the mortgage. However, buyers need to remember that they will also have to pay property taxes, higher utility bills, homeowners’ association dues, and other fees to maintain their purchase.
- Not getting pre-qualified for a mortgage—When first-time home buyers decide they want to buy a home, many go out and start looking at listings before receiving a mortgage pre-qualification. This is an important step in determining how much house can actually be purchased.
- Setting expectations that are too high—Most first-time home buyers do not buy the most expensive home on the market. For this reason, if you are buying your first home, you should be resolute about what you want in your home, but willing to compromise on other features.
- Not seeking professional help—Having the assistance of a professional during the home-buying process can make all the difference. At the real estate office of Nancy-Jo & Iain Gurr, we love working with first-time home buyers and are eager to help you find the perfect home for your needs.