Richfield First-Time Home Buyers: Avoid 5 Common Mistakes Others Make... by Twin Cities Homes for Sale

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Real Estate Agent with Coldwell Banker Burnet Realty MN Broker# 20588319

 

 Richfield First-Time Home Buyers: Avoid 5 Common  Mistakes Others Make... by Twin Cities Homes for Sale

They don’t ask enough questions of their lender and end up missing out on the best deal. Working with an experienced lender is extremely important.  Knowing what your options are before you find a property helps you structure the contract according to what’s best for you.

 

They don’t act quickly enough to make a decision and someone else buys the house.  Many buyers take time looking at many properties online and in person. They frequently fear that they will miss out on a real good deal if they make an offer on a property today.  Reality is that there will always be new listings coming on the market.  If you keep waiting, you will never buy. 

 

 They don’t find the right agent who’s willing to help them through the home buying process.  Real estate agents greatly vary.  Some have more patience than others; some explain the process better than others.  Find someone you like and trust, and who will take the time to “hold your hand” through the transaction all the way to the closing.

They don’t do enough to make their offer look appealing to a seller.  This goes back to working with the right agent.  Experienced Realtors know what’s important to sellers and they make sure to discuss with you how to write, present, and negotiate the contract for you.

They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.
  Although no one can predict the market, but there are certain things that always hold tru in real estate:

·         Buy a home in a neighborhood with the strongest potential for equity growth. 

·        Keep in mind that buying a 2 bedroom 1 bath home with room for adding a second bath or even a third bedroom is much better than buying one with no potential for expansion. 

·        Typically, homes located on busy streets sell for less than homes on quiet streets and cul-de-sacs.

·        In Minnesota, people like homes with basements.  Therefore, California ramblers sell for less money than similar homes with basements.

·        It is generally better to buy a smaller, less expensive home in a more desirable neighborhood, rather than a more expensive home in a neighborhood that’s not in demand.

 

 

Contact Marzena M. Melby, GRI, CDPE, Keller Williams Integrity Realty. Licensed REALTOR® in the state of Minnesota

 Visit my website to search homes for sale in the Twin Cities and surrounding areas.

Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. Twin Cities Homes 4 Sale Blog does not guarantee, or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Twin Cities Homes 4 Sale Blog represent the opinions and ideas of the author. Twin Cities Homes 4 Sale Blog does not express the views of Keller Williams Realty, or its other partners or agents.

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Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

This is very informative and could actually make a good handout at open houses.  Well-thought out and written.  Thanks. 

Apr 06, 2011 02:30 PM #1
Rainmaker
210,106
Marzena Melby
Coldwell Banker Burnet Realty - Richfield, MN
Realtor, Twin Cities Minnesota Real Estate

Thanks, Suzanne.  Sometimes buyers and sellers don't think these things through.

Apr 07, 2011 12:21 AM #2
Rainer
55,160
Lennar Minnesota
Lennar Corporation - Plymouth, MN

Thank you for the information! Buyers and sellers often overlook these things and get overwhelmed with the process. Taking these helpfull hints and producing handouts would be a nice touch in open houses and would make an impact on potential buyers and sellers as well!  

May 31, 2011 05:42 AM #3
Rainmaker
210,106
Marzena Melby
Coldwell Banker Burnet Realty - Richfield, MN
Realtor, Twin Cities Minnesota Real Estate

The process is more complex than most buyers and sellers think.

Jun 09, 2011 02:45 AM #4
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Rainmaker
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Marzena Melby

Realtor, Twin Cities Minnesota Real Estate
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