Common First Time HOme Buyer Mistakes

                1.  They don't ask enough questions of their lender and end up missing out on the best deal. Some of the questions are: Where is my loan originating from?  Who will service the loan? What are the fees? How can I get a lower interest rate? What is private mortgage insurance? What other products do you offer?

2. They don't act quickly enough to make a decision and someone else buys the home. So you have seen 20 homes and you really want the first home you saw...but you are scared to make a decision.  What if you find something better. A common thought... if you didn't know what you wanted to buy in the first place.  You thought you did, until you actually got out there and started searching. It seemed there are things you thought you wanted, but now you think you don't. Or you simply don't know what you want. While you are pondering your agent calls and tell you the house that was at the top of your list is gone. Now every house you look for has to live up to that house. If only....................

3.  They don't find the right agent to help them find through the home-buying process.  So your agent calls you back eventually.......while you search the Internet looking on your own, calling on every house you think you may like. Mistake....a good agent already has sent you the properties that fit your criteria, cutting down on time and homes your agent knows you will not like based on what you told them. Or your agent is part time and has to show you the house next week. Or your agent knows nothing about the area you want to buy in. Ask your agent questions to see if it is a good fit.

4.They don't think about resale before they buy. The average first time buyer only stays in a home for four years. So now you have selected your home cause you love it, but it is in a neighborhood that seems on the downswing....there are several vacant homes on the block....the schools are just okay, but you have no kids now, so what. All these play into the long term value of the property. It is true...it is location, location.location...research the location before looking.

These mistakes can easily be avoided by doing your homework before buying. You have started by reading my blog. Contact me if you need help!