Avoid the 10 Most Common, Painful, Frustrating
Mistakes First-Time Home Buyers Make
Buying a residence can be a hair raising
experience. You will experience a roller coaster
of emotions while finding the right place,
securing the loan and finally moving in. For
most of us, the first time home purchase is the
largest investment we’ve ever considered. The
emotions of purchasing something so expensive
and personal can often cloud our business
judgment.
Most home purchasers do little or no research
before they invest their nest egg. Doesn’t it
make sense to become as completely informed as
possible before you buy your first home? This
special report is designed to help you avoid 10
common and crucial mistakes. The right real
estate professional can help you make good sound
business decisions based on your personal
situation.
Inspect, Inspect and Inspect - Go
over the inspection report with a fine tooth
comb. Make sure the report was done by a
professional organization. For condo
purchases go over the CC&R’s, By-Laws, and
Association Fees. Don’t take anything for
granted... inspect everything!
Imagine the Property Vacant -
Your furnishings and decorations will be the
ones filling this new residence. Don’t be
swayed by beautiful furniture; it leaves
with the owner.
Income + Lifestyle = Mortgage Payment
- Sit down with your professional real
estate agent and honestly discuss your
income level and living expenses. Take into
account future considerations, children,
add-ons, amenities, and fix-ups. Your dream
home is certainly worth a sacrifice but
don’t mortgage your entire future.
View Several Homes - See at least
7-10 properties. Don’t move too slow but
don’t move on the first property you see.
With your agent’s help you should be able to
view enough properties to get a good overall
perspective of the home market. When you
find the right property all the leg work
will be worth it.
Utilize Your Team - By aligning
yourself with the right real estate
professional you will have an entire team at
your disposal. Utilize your lender, title
rep and agent. Each of them should work hand
in hand for your benefit. Explore all the
options before you sign.
Be Columbo - Check out all costs
and expenses before you sign. Utilities,
taxes, insurance, maintenance and home owner
dues if applicable. Make sure all utilities
(gas, electricity, and water) are on during
tyour walk-throughso you can inspect
everything in working order. Ask lots of
questions and be very detail conscious.
Do a Final Walk-Through - Visit
the property after all furnishings have been
moved out to be sure there are no surprises.
Be absolutely positive the property was left
exactly as you had agreed upon in the
contract. Things that could have been
spotted in a final walk-through are often
unintentionally overlooked.
Plan For Flexibility - Closing
dates are not written in stone. Allow for
contingencies and have a back-up plan. If
you or the sellers need a little more time
to conclude the final arrangements, don’t
let these delays upset or frustrate you.
These types of circumstances are not
uncommon in a real estate transaction.
If It’s Not In Writing, It Doesn’t
Exist - All promises and discussions
should be in writing. Don’t make any
assumptions or believe any assurances. Even
the best intentions can be misinterpreted.
Have your professional keep an ongoing log
in writing of all discussions and get the
seller’s written approval on all agreements.
Loyalty Breeds Loyalty - Be open,
honest and up front with your team. Hard
feelings and disloyalty will cause head
aches, delays or may even keep you from
getting into the home you worked so hard to
locate. Take the time to select the right
team in the beginning and your first home
purchase will be a pleasing and memorable
experience.
Avoid the 10 Most Common, Painful, Frustrating
Mistakes First-Time Home Buyers Make 
