Fred Mullins, Donna Mullins, & Erin Biby
Coldwell Banker Schmitt Real Estate Company
1201 White Street Ste. 101 Key West, FL 33040
Direct: 305-745-9440
Email: mullinsf@bellsouth.net
Website: www.lowerkeys-homes.com
In a recent CNBC article, real estate experts noted some of the most common mistakes first-time home buyers make. Take a look.
- They are not properly prepared to compete with cash buyers.
Before beginning a house hunt, first-time home buyers need to already have saved enough for a down payment, fixed any credit report problems, and been pre-approved for a mortgage. After proper preparation, they are in a position to make a quick decision when the right property comes along. This gives them the ability to compete with cash buyers who do not need to go through as many steps.
- They rely too much on the internet to tell them what a home is worth.
Many of the real estate websites out there do a disservice to the first-time home buyer by giving them an inaccurate view of home values. If you want to get an idea of what home values really are, spend some time with a real estate agent. Drive around the neighborhoods and see first-hand why certain homes are worth more than others. Real estate agents understand the market and they can give you a better idea of home values than a website.
- They pass on a home inspection.
This is a big no-no! According to Bill Loden, President of the American Society of Home Inspectors, about 10% of homes purchased recently were purchased without a home inspection. Cutting back on the cost of a home inspector could end up costing you thousands of dollars later due to unknown defects. It takes a licensed, certified home inspector to see all of the issues that a home can have. A home inspector can also give you some tips on how to properly maintain your home.
Information obtained from: http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=311195
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