Avoiding Common Mistakes First Time Homebuyers Often Make
One of the good things about mistakes is that you, hopefully, learn from them. We’ve been helping first time homebuyers for quite a while now and we already have a good idea of the most common mistakes these enthusiastic prospective homeowners make. We can use what we’ve learned from those mistakes to guide you on a more error-free, less stressful journey. We also suggest that you talk to friends and family that have been down the mortgage road before. They say that knowledge is power, so learn from their mistakes. In the case of buying a home, that knowledge can also save you money.
Use Your Head, Not Your Heart When Home Shopping
It is hard to keep your emotions in check when you’ve found what appears to be the perfect home. But you really do need to keep a level head. One of the most common mistakes is to fall in love with a property. This can lead to bidding wars, meaning that you may end up paying far more than the asking price for that property. Learn when to let go.
Contrary to popular belief, you can fall in love with a home. REALTORS® advise home sellers on the best way to showcase their properties. By putting the home’s “best door forward” it has a better chance of selling, for a higher price. Your mission is to look beyond the improvements, take true stock of the property being offered, and do it in a practical, thoughtful way. Think of it as having a poker face. You may be jumping up and down on the inside, but keep cool, calm and collected on the outside.
Keep Control of the Home Buying Process
REALTORS® are there to give you advice, to make sure your find a home that is perfect for your needs and at the right price. Never loose sight of the fact that you are the buyer and that you are in control of the buying process. Let’s just call it the power of the pen. Take your time looking for both home and mortgage and don’t be rushed into a deal on a property that isn’t ideal. There may be unforeseen circumstances on any real estate purchase and we can help. Our firm offers advice and guidance in finding your perfect home.
One thing to keep in mind is that letting your family get too involved in the house hunting process can cause you to loose focus and control of the situation. Input and opinions are lovely, and in many cases helpful. Just don’t loose sight of the fact that the home you decide on must suit you and your immediate family, not mom, dad, the in-laws, brothers, sisters or newly arrived cousins. Accept their input and then make up your own mind.
Avoid Being Indecisive
It is important that you take your time in finding your perfect home and the best deal on your mortgage. But there may come a time when you’ve done all the legwork, found your dream home and are still hesitant to commit. It all comes down to you making the final decision and signing on the dotted line.
Scary? Sure. But that’s where working with a REALTOR® comes in. If there are concerns, we can work through them. If certain extenuating circumstances arise we can offer advice. Perhaps you are worried that a better home might come available or that you could get a better deal in a week or two.
Anything is possible. But, if you already have a great home and deal picked out, being indecisive can cause you to loose that find. While we won’t push you into a decision, we will offer our experience and knowledge to make you feel more secure in taking the final home buying step.