Buying your first home is a big deal! It is thrilling, empowering, and yes, a little intimidating. After years of working with first-time buyers, I’ve seen a few common pitfalls that can lead to unnecessary stress or setbacks.
Here are 5 of the most common mistakes and how you can confidently avoid them:
1. Not Getting Pre-Approved Early
The Mistake: Starting your home search without talking to a lender.
Why It Matters: You may fall in love with a home you can’t afford or lose one you can because you’re not ready to make an offer.
How to Avoid It: Connect with a lender first. A pre-approval shows sellers you’re serious and helps you search with a clear budget in mind.
2. Underestimating the True Cost of Homeownership
The Mistake: Budgeting only for the purchase price.
Why It Matters: There’s more to homeownership than your monthly mortgage. Think taxes, insurance, maintenance, and utilities.
How to Avoid It: Talk to your real estate agent and lender about the full cost of owning a home so you’re fully prepared.
3. Skipping the Home Inspection
The Mistake: Waiving the inspection to compete in a hot market. DON’T DO IT!!!
Why It Matters: Even the prettiest home can have hidden issues such as plumbing, roofing, electrical, or structural surprises.
How to Avoid It: ALWAYS get a home inspection! If you’re in a competitive market, consider a pre-offer inspection or negotiate repair terms wisely.
4. Letting Emotions Lead the Way
The Mistake: Choosing a home because it feels right even if it doesn’t check your boxes.
Why It Matters: A dream kitchen doesn’t make up for a long commute or lack of bedrooms.
How to Avoid It: Make a list of must-haves vs. nice-to-haves and stick to it.
5. Going It Alone
The Mistake: Thinking you can figure it all out on your own.
Why It Matters: Real estate is fast-moving and full of fine print. A trusted local agent can help you avoid costly missteps.
How to Avoid It: Partner with a professional who knows your market, negotiates on your behalf, and has your best interest at heart.
The home buying process doesn’t have to be overwhelming especially when you have a plan and a pro in your corner. If you’re thinking about buying your first home, let’s connect. I’d be honored to help you make confident, informed moves in today’s market. Contact me at (413) 456-6224 or check out the latest listings at iverty.com!