While there are many options out there for home buyers, I have listed some of the common mistakes smart people make when buying their first home.

Avoid Common Mistakes When Purchasing Your New Home

Mistake #1 

Not knowing how much they can afford before they make an offer.

The easiest way to avoid this mistake is to get pre-approved for a mortgage, so you know in advance exactly how much you can afford.

 

Mistake #2 

Not realizing in advance whom the real estate agent represents.

When you call the agent on the sign in the yard, that agent most likely is working for the seller.  So beware that any information you give that agent may be used against you in negotiations with the seller.  The best way to avoid this conflict is to find an agent willing to work with you as a Buyer's Representative.  Ask about our Buyers Agreement with NuEra Realty.

  

Mistake #3 

Not discovering hidden defects before they buy a home. 

One of the most expensive mistakes is also one of the easiest to avoid, by having a professional do a whole home inspection before buying the home.  Even if the home is new, we recommend full home inspections to avoid any problems in the future.

 

Mistake #4 

Giving a Social Security Number out to several different mortgage companies while shopping for rates.

Before you give out your personal information, decide which lender you would like to work with.  Credit inquiries may affect your credit rating and have a negative impact on loan amount, interest rate, etc.  There is a two week window in which you can shop for loans.   Check with your lender concerning this matter.

 

To avoid these mistakes, and to have a better understanding of the home buying process, contact me for a FREE homebuyer booklet that will explain the home buying process in simple terms, and show you how I can help make the process of buying your first home a much smoother process.

Related Posts To This Topic:

Forbes.com offers the follow video tips for  the first time home-buyer: View The Video

 

______________________________________________________________________________________________________________

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Information For Buyers - Alecia Barnes 541-936-1630

Oregon Information For Sellers Contact Realtor(R) Alecia Barnes

 NuEra Realty- Alecia A. Barnes 541-936-1630

 

541-466-5094 Office   541-936-1630 Cell 106 W Bishop Way, Brownsville OR 97327

Written By: Alecia A. Barnes -Proud to be a Realtor® in the State Of Oregon - Serving Albany, Brownsville, Corvallis, Eugene/Springfield, Halsey, Lebanon, Sweet Home, and the surrounding areas. If you are thinking of moving to Oregon, or are looking to list or buy property, give me a call, I'd love to help!

 
This post has been included in Oregon Information

5 Comments on Common Mistakes Smart People Make When Buying Their First Home

NOV
10
2007
1 Featured Post

I agree, Alecia, especially point #3--hidden defects.  It is best to have a home thoroughly inspected before purchasing.  One client, who signed a waiver stating I advised him to get an inspection, emailed me after closing.  The water heater went out and he had to pay for it himself, since he elected to not have it inspected. 

1:51pm • #1
JUN
26
2008

Very informative article. Buying a house is a serious decision. It is the largest purchase one has ever made in his life. This is a decision that should not be taken lightly and you gave some great points to consider.

5:22pm • #2
JUL
31
2008

Buying a house is a serious decision. It is the largest purchase one has ever made in his life. It is not an easy task to find an ideal place to live. Recently I have come across one interesting service http://climate.fizber.com/ With the help of climate watch homebuyers can check what the climate is like in another town or city before they move there.

Alika
10:18am • #3
MAR
04

Nice info, I notice with my buyer here in Cebu that they are eager sometime to get the house loan without knowing their capability to pay, thats where licensed real estate practitioner comes in - David of Cebu Philippines(http://jereos.cebubesthomes.com)

David
3:08am • #4
JUN
20

Mistake #2 is really unavoidable; and it really happens. We often get to excited a buying that we are blinded for a moment to see any defect.

cebu real estate
6:33am • #5

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Portland Oregon Real Estate | Alecia Barnes - Broker

Portland, OR

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Phommany & Phommany Realty, Ltd.

Address: Portland, OR, 97209

Office Phone: (971) 238-0704

Cell Phone: 541

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All about Portland Oregon Real Estate and the surrounding areas. My blog shares information on listings, personal anecdotes, my views on faith and christianity and more.

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