Buying real estate can be just as stressful as it is fun, especially for first time home buyers. Needless to say, there are many mistakes first-time home buyers make… luckily all of these mistakes are avoidable if you know what to look for. Here, we run through the top 3 mistakes first timers make without even realizing!
Incomplete budgeting: Home buyers, especially first timers, are often so focused on the list price of the properties they’re touring that they forget about the other costs involved in making a purchase – taxes, insurance, legal fees, moving expenses, and so on. These additional expenses can add up, so it’s pivotal to account for these in order to avoid unpleasant surprises!
Shopping for a house before a mortgage: shopping for a first home can be an exhilarating experience, so it’s no surprise that sometimes people begin shopping before they’re pre-approved for a mortgage. This can be a very big mistake as you could fall in love with a home that is out of your price range…ruining your home buying experience before it even begins.
Becoming emotional: The home-buying process can be stressful, and things might happen that you weren’t expecting. Your home budget might need to be adjusted, and it can be disappointing to find out that you need to save even more money. You might fall in love with a home that you don’t get to buy. Relax. Take your time. Do the math before you make an offer on a house, and stick with your goal. Persistence will eventually pay off, and you’ll learn a lot along the way. And to help you stay the course, it’s important to have a strong team of advisors behind you – we’ll help you find options you may have not considered and assist you in recalibrating your strategy.
We here at WestCoast Living Real Estate group are always happy to help first-time home buyers through the process, guiding you through, step-by-step, to ensure an exciting, smooth home-buying experience. Reach out to us to begin your real estate journey.