Buying your first home is a life changing experience. There are so many things to consider and it can be so overwhelming. As a first time home buyer you need to make sure to limit your mistakes. Here are some of the biggest mistakes first time home buyers typically make.
With all the new technology designed to help with your home search many first time home buyers think they can use this technology and purchase their home without the help of a realtor. This can be the worst mistake to make. The new technology makes home buying easier and more efficient; it’s not supposed to weed out the professionals. Realtors will have better access to the properties you’re interested in. They also know how to handle the extremely nuanced contract negotiations. It won’t save you money if you don’t hire a realtor and chances are you’ll probably pay more for a property without a realtor’s expertise. Lastly, there are many different clauses and obscure rules that go into purchasing a home. Your realtor will know the laws for potential remodels, structural issues, and even simple yet obscure things such as a driveway easement. Your realtor is perfectly geared to handle all of these. Going without a realtor will make your job much tougher.
A lot of first time home buyers solely rely on their realtor to do pretty much everything during the housing search. Your realtor will have a bunch of other clients. Understandably, your realtor won’t be able to always be there and help you out. Therefore if you solely rely on your realtor to help you out, you won’t have as much information about the housing market as you could have. As a first time home buyer, not only do you need to hire a realtor who is the right fit for you, but you also need to do your own research. During your free time you should look up areas you want to check out houses in, check out pricing, and check how the general housing market is doing. These can go a long way into making your home search run at a quicker and more efficient pace.
Often times first time home buyers are so overwhelmed by the process that they forget to organize their plan of attack. They get wrapped up in the excitement and jump from house to house without dividing up areas and time frames. A lack of organization ensures that there will be potential homes that first time home buyers will miss out on. It can also make the process of finding and checking out homes take much longer than needed. In order to avoid this a first time home buyer needs to plan out what they will be doing during their home search. A first time home buyer should divide out their home search and make a list of the houses they want to like to check out by area. Many first time home buyers just jump from house to house regardless of proximity. Plan beforehand and completely set up how you’ll spend your day searching for homes and in what areas. This will be faster and much more efficient than planning on the go.
Buying a home for the first time is not an easy task. It’s very time and effort consuming. Fortunately, there are professionals and technology to make your home search much easier. Every first time home buyer is bound to make some mistakes. The best thing to do is get as educated as you can about the home buying process in order to limit these mistakes.