First off I have to give credit to three sources for the basis of this blog. I have to be honest if nothing else. The sources for this blog are: 1 - usnews.com 2- realtor.com and finally realestatechecklists.com. Okay I was good.

First time home buyers make five major mistakes according to these sources. If I would add anything to what they said I would a sixth mistake which is buying too much home or not enough home. The too much home mistake is a financial one and the not enough home mistake is buying a home for only one child when you love one another and well nature takes its' course quicker than you thought it would.

What are the five mistakes first time home buyers make? They are shown below. My comments on each are in the quotation marks. 

1.They don't ask enough questions of their lender and end up missing out on the best deal. "I will tell you in number three on this list to interview real estate agents. Do not be afraid to get competitive quotes from a couple of lenders also and don't be afraid to ask questions about their fees and interest rates. Please remember though they do have to make money and can't do it for free."

2. They don't act quickly enough to make a decision and someone else buys the house. "There are times when you can take a week to think about the home and there are times when you cannot. Please understand we agents may not know how many times that home has been shown. I have found that about 8 out of 10 times buyers know as soon as you walk into a home that this is the one they want. Yes your gut instinct does work. You also know which homes you don't want so please let's not spend 20 minutes looking at a home you don't like the minute you walk into it. We can leave quickly."

3. They don't find the right agent who's willing to help them through the home buying process. "I agree with this. Do not be afraid to interview different agents and select the one you feel will work best with you. I will be sad if you don't pick me but I will get over it. Many years ago I interviewed pediatricians for my kids. Two of the doctors didn't like but the third one was great and was my boys doctor until the day they both entered the Army.

4. They don't do enough to make their offer look appealing to a seller. "My only comment here is that please remember that it takes two to make a deal. In most contracts there are only three important things, money, time and terms. You probably won't win on all three."  

5. They don't think about resale before they buy. The average first-time buyer only stays in a home for four years. "Go back to number three and please read that one again. A good realtor can and will assist you in this area. We want your repeat business in four years. None of us like those dog listings all though most of us have at least one of them like that."

Okay that is the list about first time home buyers and the mistakes they make. You know what though it isn't only first time home buyers making those mistakes. It is a bunch of us....myself included not that I look back on some things.

Thanks and please have a great day!!

Ron