First-Time Home Buyer? 5 Mistakes First-Time Buyers Should Avoid

By
Real Estate Agent with Coldwell Banker Realty

 

Are You A First-Time Home Buyer? 5 First-Time Buyer Mistakes You Should Avoid...

 

Being a "first-time anything" is always stressful. And mistakes are inevitable. When it comes to buying your first home, it's such a big financial and life-style commitment you want to avoid making mistakes as much as possible. The infographic below outlines the 5 First-Time Home Buyer Mistaks too many buyers make and provides a simple solution to each. The include:

  1. Unrealistic budgeting regarding what you can afford and what it costs to maintain a home.

  2. Unclear expectations when you haven't fully identified what you need versus what you want in a home, where you want a home, the type of home that's approrpiate for your lifestyle, etc.

  3. Emotional decision making is always dangerous when you are making a large financial investment.

  4. Insufficient research about the home buying process, about neighborhoods, etc.

  5. Not hiring the right Realtor® to guide you through the home buying process from start to finish and one who can help you avoid the first four mistakes.

 

 

 Infographic: 5 First-Time Home Buyer Mistakes (And Their Simple Solutions)

 

 

 

Your FIRST Step After Hiring The Right Realtor®?

In case you haven't already been advised... your very first step is to get pre-qualified for a home mortgage. Getting pre-approved is a critical step to show home sellers you are serious about buying and capable to do so. And it often helps speed up the process once your offer has been accepted. Besides, understanding your budget up-front will give you the confidence of knowing whether or not your dream home is within your reach.

 

 

 

 

 

Nina Hollander Is A First Time Buyer Specialist

GreatHomesInCharlotte.com Can Help You Find Your First Home

Carolinas Realty Partners are first-time home buyer specialists. Our website, www.GreatHomesInCharlotte.com, can help you start searching for your Charlotte area first home. Our website offers great features that you can customize for your own customized and personalized home search, including:

 

 Let's get together to help you take the first step in making your dream of buying a home a reality.

 

If you're serious about purchasing your first Charlotte area home in 2019 you can

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 free home listing alerts from greathomesincharlotte.com

 

 

This information about the the first steps to achieve the dream of homeownership is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts. We have been opening doors to homeownership for Charlotte region first time home buyers for 20+ years. We can open the door to your dream home, too!

 

 I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:

 "The Right Broker Makes All The Difference."

 

 

Great Homes In Charlotte

 

 

Posted by

 

 

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (38)

Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Love the post and especially the graphic.  Thanks, Nina Hollander!

Feb 27, 2019 09:17 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bob "RealMan" Timm hi Bob.... hopefully you made those mistakes before you became a real estate broker yourself! 

Feb 27, 2019 09:32 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents hi Elizabeth... first-time buyers should be somewhat scared... it's a huge financial and emotional decisions and when you don't know what you don't know you get yourself into trouble.

Feb 27, 2019 09:33 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lise Howe thanks, Lise, for stopping by. Trust you are having a good day and a good week thus far!

Feb 27, 2019 09:34 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina,  You come up with some great blogs that are very helpful for people.  Thank You!

 

Feb 27, 2019 10:51 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good advice to share with prospective home buyers.

Feb 27, 2019 11:13 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm hi Will... thank you for stopping by. And happy birthday to you once again. Trust you are having a lovely day.

Feb 27, 2019 11:26 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley hi Roy... when people don't know what they don't know as first time buyers, without the help of a good agent, they could be in for a world of hurt.

Feb 27, 2019 11:27 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nina Hollander - Those are all great tips. It really is a mindset. So many renters think they can't afford to buy a house but if they really evaluated what they pay for rent and what it will cost in the long run, with a hopefully substantial return on their money, they would be wise to budget wisely. It's those unexpected expenses that seem to get a lot of people into trouble. 

Feb 27, 2019 12:11 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - These are all good mistakes to avoid but I feel that iring the wrong REALTOR® is at the top of the list. The agent can guide the buyer through the rest.

 

Feb 27, 2019 12:39 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Patricia Feager, MBA, CRS, GRI,MRP I so agree, Patricia. The problem often is that a lender approves them based on a formula when they should be borrowing a whole lot less and buying at a lower price point.

Feb 27, 2019 12:40 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® no doubt about that, Sheri. I've heard a few horror stories in my life from clients who started with other agents.

Feb 27, 2019 12:58 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I LOVE THAT MESSAGE Nina Hollander . I am seeing so many first tiem buyers and some are not ready, no guidance and they choose just anyone that does not help the cause. 

Feb 27, 2019 02:10 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Scott Godzyk it's really awful sometimes, Scott. And then we are all tarred with the same brush.

Feb 27, 2019 02:39 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Nina, All 5 great tips for first time home buyers, but #5 is the one I would recommend to start with!

Feb 28, 2019 04:13 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Nina - the first time buyer can be helped in one to four if they find the right agent.  You would be an excellent choice.

Feb 28, 2019 04:17 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila and Larry... as this was a post written by a real estate agent I didn't want it to look too self-serving to say that was #1 on the list to have the right agent. 

Feb 28, 2019 04:24 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider thanks, Grant. Amazing what little miracle workers we can be, don't you think? 

Feb 28, 2019 04:25 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina I work with a lot of first time homebuyers, and those are common mistakes they make.  That is why it is so important for them to work with professionals like you and I who can give them the proper guidance in purchasing their first home.

Feb 28, 2019 01:27 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto amen to that, George. Working with a first-time right now. At least they did go to a lender, but totally unimpressive. I just switched her over to one of my top lenders so we can make something happen.

Feb 28, 2019 01:43 PM

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