First Time Home Buyer Mistakes - Diamond Homes Realty

First Time Home Buyer Mistakes

If you are a first time home buyer, it can be a bit intimidating. Purchasing a home is a huge investment. As your expert real estate team, we are here to guide you along your journey to home ownership. We make sure you are fully aware of the in’s and outs when purchasing your first home.

Don’t Look For A Home Before You Get A Loan– When you finally make the decision to purchase a new home, the excitement sets in! Often times first time home buyers go into purchasing a home without fully thinking about the financial commitment they are about to get into.

This is one of the biggest mistakes 1st home buyers make. Often time’s people go out searching for a home based on a price they think they could qualify for. The problem is many times that number is way off from reality. Don’t be afraid to ask what you can qualify for, even if you can’t qualify for a loan for the type of home you are looking for at least you’ll know and won’t waste your time. Also, most seller’s require a pre-approval letter to be submitted with any offer. If you are a pre-approved buyer it gives you a big advantage since there are no guessing games. That way you have more leverage in negotiations.

Don’t Jump Into Buying A Home Without A Professional– Many times 1st time home buyers get overly excited with purchasing a home and over look this very important thing. The home buying process is full of tiny details and fine print, so going into blindly can really cost you. We pride ourselves in giving you the best advice and make sure you are not walking into anything you don’t want or need. Also it is important to know the local housing trends. They change constantly and we have the knowledge and expertise to make sure you get the best deal for your budget.

Buying a home is usually one of the biggest investments in anyone’s life, make sure you are well informed. As your 5 STAR rated real estate team, we will guide you in the right direction. Click Here to read what our clients have to say!

Don’t Use Your Entire Life Savings For A Down Payment – This is another huge mistake 1st time home buyers make. Don’t let the excitement of owning a new home put you in a bad financial situation. Life has a strange way of giving us surprises and the last thing you want is to be in a situation where you don’t have any money because all of it went to into your down payment. Every situation is different, but it might be smarter to pay less on a down payment, and then have slightly higher monthly payments, rather then putting all your money in on a down payment.

Consider All Aspects of a Home– Sometimes 1st time home buyers find a home and focus in on only one aspect they love about the home. It could be the neighborhood, it could be a pool in the yard or newly remodeled kitchen. This however could make them blind to other issues in the home. The important part is to remember when you are purchasing a home you buy the whole house. While everything in the home doesn’t have to be 100% perfect, try to take the emotion out of the process, and keep a non-biased view of every property you look at.