Common Homeowner Mistakes to Avoid

When embarking on the journey of homeownership for the first time, there is a lot to be aware of. Let us help you out and guide you through this journey from common mistakes to helpful suggestions that can make the process much easier.  

• Get pre-approved for a mortgage. This is a crucial step in the home-buying process, as it will give you an idea of how much you can afford to spend and make you a more attractive buyer to sellers. Without pre-approval, you may not be able to make an offer on the home you want.
• Have enough saved. It is great to have 20% down but it's not necessary and not having a big down payment shouldn't stop you from exploring homeownership if you have a stable income.
• Don’t buy more house than you can afford. It's easy to get caught up in the excitement of buying a home, but it's important to be realistic about your budget. Don't stretch yourself too thin. Knowing everything that goes into the monthly upkeep of a home and budgeting accordingly is an important step to make sure you never get overwhelmed with bills.
• Consider all your options. There are a lot of different factors to consider when buying a home, such as location, size, price, and condition. It is important to do your research and make sure you are buying the right home for your needs. Along with this, there are many different types of mortgages available, so it's important to shop around and compare rates.
• Get a Home Inspection. A home inspection is an important step in the home-buying process, as it can help you uncover any hidden problems with the property you want to buy.
• Be patient. The home-buying process can be long and complicated, but it's important to be patient and persistent. The right home is out there for you, so don't give up.
• Work with an experienced real estate agent. A good real estate agent can help you find the right home for your needs and budget. They can also help you through the home-buying process, negotiation on the price, and many more firsts when it comes to buying your first home. Also, don’t be afraid to seek an agent who specializes in assisting first-time homebuyers.
• Negotiate – Learn what is negotiable. From discussing repairs to changing closing dates almost everything in the contract can be negotiable. Depending on the market conditions and your situation, your agent can guide you through making the best possible offer while still getting what you need.

Looking to start your homeownership journey as a first-time home buyer? Get connected with our talented, experienced agents who will guide you through this exciting and wonderful experience!