Top 3 Mistakes First Time Homebuyers Make that YOU Should Avoid

By
Real Estate Agent with Samson Properties VA0225077251

There's always a first time for everything -- from getting your first interview for a job, to ordering your first coffee at Starbucks (not sponsored), to even buying a home. Sometimes, with these first time experiences, we have mistakes along the way. But here are the top 3 mistakes that first time buyers make, and how you can avoid them!

1. Not having enough cash

Apart from down payment, you'll need funds for lender fees, title fees, recording, tasxes, your attorney and other fees, and any repairs or updates you need to spend on the house. Make sure you have some extra cash before anything else!

2. Not exploring the financing options available through various channels

Aside from the conventional ones, Virginia has a lot of great government programs for first time home buyers -- just like VHDA's first time incentive program. Apart from that, there are a lot of lenders who offer incentives for first time home buyers as well. Don't miss out on them! Check it online or talk to your realtor for the best options available.

3. Having emotions get the better of you

Oh my God, how many times I have my first time home buyer walk into a home that is beautifully staged and drooled over it even as though that home does not make sense financially or for their lifestyle. Make sure to chill out, give it a thought, and consult a professional if you have any doubts.

What are the things that you wish you knew sooner before buying your first home? Let me know in the comments below!

Posted by

 
                             
Associate Broker
MRP, ABR, ePRO

NVAR, Life Time Top Producer
NVAR,Multiple Million Dollar Sales Club Member
Samson Properties
Cell - 703-625-4949
Email - info@eNOVAHomes.com
Web: www.eNOVAHOMES.com
 
Residential real estate agent serving Northern Virginia in Fairfax & Loudoun county over a decade and almost $100+M in sales volume experience. 


 

Comments (1)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Ritu Desai 703-625-4949 all three are very common mistakes, and there are many more mistakes not only First Time Buyers make, but repeat Buyers make as well.  I am sure if we all put our heads together, we could come up with enough mistakes to fill a book .... LOL

Mar 25, 2022 02:50 PM