What To Avoid Doing...

By
Real Estate Agent with Keller Williams Realty - Topsfield, MA 92593-B

... when buying a home.

 

1. Doing It On Your Own

2. Avoiding Budget Talks Before Shopping

3. Not Looking Beyond the House

4. Opening a Line of Credit Before the Sale is Final

5. Being Emotional Rather Than Visionary

 

We've all been first-time buyers and as Real Estate Professionals we work with many first-time buyers. I found this helpful article, by Alejandro Herrera, on the Realty Times website and thought I'd share.

There is one area I don't agree with, though. I've not met one Real Estate Professional that suggests the staging of their clients home to distract a buyer from a negative.

 

5 Common Mistakes First Time Home Buyers Commit and How To Avoid Them 

Buying a home for the first time can be an exhilarating experience. With Millennials rapidly entering into the home buying market, and more options than ever when it comes to how people can find a home, opening the door to the real estate world can seem overwhelming and complicated. Fortunately, as almost everyone knows by now, the internet can provide you with enough resources to confidently approach any situation, and home buying is no different.

Here are five common mistakes that first time home buyers make and how you can avoid them.

Doing It On Your Own

There are some things that you simply need the help of a professional with, and home buying is certainly one of them. Beyond providing help while you navigate the twists and turns during the searching process, realtors can also provide you with valuable resources at a flat rate that end up saving you tons of time, energy, and money in the long run. For instance, instead of scouring Craigslist and other free online platforms for homes that will end up being red-flagged or a waste of time, a home buyer in The Sunshine State can utilize the help of a broker to access a flat fee MLS in Florida.

The MLS (Multiple Listing Service) is an extremely valuable weapon to have at your disposal as a buyer because it allows you to work with who you want, while at the same time, providing you insider access to all the homes that meet your requirements from serious sellers. According to the National Association of Realtors, more than half of recent buyers used the MLS in their search for a new home.

Avoiding Budget Talks Before Shopping

Discussing finances can be an uncomfortable activity for many people, but it’s so important to have a realistic understanding of where you are financially before you look for a home. Beyond being disappointed by finding the perfect home that you can’t afford, you can also run into woes down the line if you can’t put down a serious offer on the table, or even worse if you can’t afford the house when all the monthly bills start coming in. Buying a home takes some serious work ethic, so make sure you’ve prepared yourself for future costs and have an honest view of where you are financially before committing.

Not Looking Beyond the House

While you may have found the home of your dreams, it won’t mean much if you’re situated just off of a busy highway or in a lackluster location. It is very important to remember to look at things like walkability, proximity to schools and hospitals, and what the general feel of the neighborhood is like before buying a home. Would you feel safe walking the dogs or taking the kids to school? Are you near a busy intersection that might keep you awake at night? Remember, you’re not just living in this property for a few months or a year, you’re buying, and you need to picture what it will be like to wake up in your new home every day. Keep in mind all the things that make you happiest in life, beyond how a home currently looks.

Opening a Line of Credit Before the Sale is Final

Your credit score plays a large role when it’s time to close the sale on a house. The most critical days are after you’ve applied for your mortgage and the weeks in between closing your sale and getting the keys. If you apply for another credit card during this downtime, it may affect your credit score negatively, and that is a red flag for mortgage lenders. Sit tight during this process, and make your next big buying decision once you’ve closed on the house. Nerd Wallet advises you to wait until after closing to open new credit accounts or charge furniture, appliances, or tools to your existing credit cards. It’s okay to have those things picked out, but don’t buy them on credit until you have the keys in hand.

Being Emotional Rather Than Visionary

Being budget-conscious doesn’t always have to mean being bland and boring. If you see a home in a fantastic neighborhood that falls into your price point, but its décor doesn’t blow you away on the inside, take a step back and realize its potential rather than its current state. You have total creative control over the interior and exterior of your home (unless you have a picky Home Owners Association). If you think the current owners have chosen horrible wallpaper or lighting fixtures, or think the backyard isn’t being used to its potential, you’ll have plenty of time to fix it up! Another way in which emotions can muck up a home sale is to be too starry-eyed by the interior of a house.

Homeowners will throw down some serious cash to have professionals come and stage their homes with the intent of having you fall in love with their interior design. Keep in mind, this may be done to distract you from some glaring flaws like neighborhood safety or a less-than-desirable location. Approach each home with a level head and an open mind, and you should be able to strike a balance between affordability and ingenuity.

Buying a home is a major decision in everyone’s life, but if you’re armed with the right tools before you begin your search, then your big decision doesn’t have to translate into a big headache. Remember, once you’ve hired a professional, it’s okay to ask as many questions as you need to, after all, that’s what they’re paid for! Do as much research as you can on the area surrounding your potential new home, and remember to always compare agents when selecting your realtor, as well. Putting in hard work here will save you a good chunk of change down the road in terms of interest rates, commission fees, and even renovation and repair costs after you’ve purchased your new home. Good luck and happy hunting!


Alejandro Herrera is a content writer working for beycome specializing in copywriting, and general blogging. Check out more of his work in the beycome blog to see more articles to help out home buyers like you.

Posted by

I pray that God our Father and the Lord Jesus Christ will be kind to you and bless you with peace

2 Thessalonians 1:2

 

Doug Dawes REALTOR®, AWREP, LMC

Broker Sales Associate

KELLER WILLIAMS REALTY - Topsfield/Newburyport

49 Main Street
Topsfield, MA 01983
 978-887-3995  ~ Office
 978-270-3037  ~ Cell
 DougDawes@KW.com

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Massachusetts
Groups:
FOR SALE BY OWNER - MARKETING(FSBO)
New Hampshire - Real Estate and Life in The Granite State!
MA REALTORS
Coldwell Banker Platform for Sharing Information
Boston Area Real Estate
Tags:
realtor
homeownership
finance
budget
staging
homeowners
buyer
agent
home buying
debt
first time buyer
mortgage

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
158,954
Don Baker
Lane Realty - Eatonton, GA

agreed.

Jul 20, 2019 09:02 AM #1
Rainmaker
2,754,749
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Doug Dawes very valuable tips to avoid when buying a home. Have a good day!

Jul 20, 2019 09:43 AM #2
Rainmaker
3,139,098
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Doug  excellent blog and should be seen by buyers that ever Realtor give them.

 

Jul 20, 2019 10:02 AM #3
Ambassador
3,839,968
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Doug- the #1 thing they need to avoid is not hiring a professional local agent. 

Jul 20, 2019 01:31 PM #4
Rainmaker
1,897,548
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Doug - these points need to be explained to the first time home buyer.   

Jul 20, 2019 05:17 PM #5
Rainmaker
3,237,549
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Excellemt llost of suggestions for any/everyone considering a home purchase !

Jul 21, 2019 03:04 AM #6
Rainmaker
760,545
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Don Baker 

Great minds think alike...lol 

Enjoy this day

Jul 22, 2019 06:56 AM #7
Rainmaker
760,545
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning John Pusa 

I'm glad you found the article useful. 

Jul 22, 2019 06:57 AM #8
Rainmaker
760,545
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I try to give as many tips as I can to buyers and sellers Will Hamm 

Jul 22, 2019 06:57 AM #9
Rainmaker
760,545
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Without a doubt, this is the #1 thing that buyers and sellers should do Kathy Streib 

Jul 22, 2019 06:58 AM #10
Rainmaker
760,545
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Grant Schneider 

I find that all buyers and sellers need to be aware of these points

Jul 22, 2019 07:00 AM #11
Rainmaker
760,545
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I thank you for stopping by and reading the post Sally K. & David L. Hanson 

Jul 22, 2019 07:00 AM #12
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
760,545

Doug Dawes

Your Personal Realtor®
Are You Looking?
*
*
*
*
Spam prevention

Additional Information