Are you purchasing your first home?
Congratulations! It’s a thrilling epoch!
It would be best if you didn’t make these common first-time homebuyer mistakes, though.
Without some direction, your joy and celebration can quickly turn to regret. It’s happened before! New home buyers come to us after months of searching, missing out on homes, or even purchasing their second home… after their first home buying experience was a disaster.
You can ignore major headaches and make the home-buying process the most enjoyable and successful with some forethought.
Here Are Some Of The Most Common Mistakes We See Homeowners Make
You Fall In Love With Home Staging
Everyone is aware of this. Everyone gives this piece of advice, especially when they swear up and down that they can look past the old-fashioned wallpaper to the home’s perspective. Then reality sets in, as potential buyers begin to notice staged homes rather than the original decor.
In its most basic form, home staging is when the seller declutters and rearranges the furniture to make rooms more appealing to buyers. Some sellers now remove almost all of their belongings so that a staging company can come in and completely redecorate the space.
What is the result?
Stunning demonstrations of flawless design perfection. Bedrooms with personality, spa-like bathrooms, and spotless kitchens.
The issue is that there is a significant gap between this idealized way of being and how we live in our homes. Stagers, for example, will frequently remove necessary appliances such as coffee makers, microwaves, and blenders to make countertops appear more spacious.
Some will even remove doors to make older homes appear airier and more open. Aside from these tricks, stagers can use undersized furniture to make rooms appear larger.
You Shop Distracted
It isn’t easy, I know. You have kids, and they get bored as you go from house to house, peering into closets and underneath sinks. Every parent purchasing a home understands that children complicate an already tricky process. (The same is true when purchasing a vehicle.)
After parents bailed to take the cranky toddler back to the apartment for some much-needed rest and relaxation, I’ve had to reschedule viewings- or view homes alone.
After parents bailed to take the cranky toddler back to the apartment for some much-needed rest and relaxation, I’ve had to reschedule viewings — or view homes alone.
While house-hunting with children can cause you to miss out on opportunities, it can also lead to resigned behavior—bidding on, and eventually settling on, homes out of desperation rather than waiting to find your dream home.
Good, attentive movers and packers will gladly step in to assist with children, especially if the client is a single parent. Consider working with a moving company that will take you on one night and your partner on the next, or schedule a visit with one parent.
while the other entertains the child in the yard. You could, of course, hire a babysitter or ask a family member to watch the children for a few hours. You should be able to take your time and focus on the most expensive purchase you’ll ever make.
Not Getting A Home Inspection
Are you considering skipping your home inspection? Consider again! It may be tempting to ignore it, primarily if you’ve found a home you adore, if it’s newer, or if you’re buying from a friend. In addition, organizing an inspection takes time and money. But don’t worry, this is the best money you’ll spend during the entire home-buying process.
Inspections aren’t just for catching people hiding problems with their homes (although some people are doing that too). There are times when problems with the house arise that the homeowners are unaware of. Some may be minor, but others may be more extensive… and costly!
To learn more about your home, we recommend attending the inspection in person. The inspector can frequently provide insight into the severity of issues, allowing you to decide your purchase.
Fixer-Uppers Are Often Overlooked
We consider this a common mistake made by homeowners because many hidden gems are overlooked due to their curb appeal. If HGTV has taught us anything, a little elbow grease and TLC can seriously transform an older house into your dream property, and often for much less than the cost of a newer home.
We all know that new properties have a sparkle that draws your attention. And there’s nothing wrong with desiring something different! However, consider looking at some older properties if money is an issue or you want a truly unique and personalized home. A little extra effort could get you more house than you thought possible.
Not Learning About The Costs Of Updating Before Purchasing
Almost every house you look at will require some renovation. You don’t have to go full Joanna Gaines on your new home, but you will probably want to redecorate a bathroom, rip up some old carpet, or replace the countertops.
If the aesthetic is a deal-breaker for you and you feel you have no choice but to remodel, make sure you research the costs of your updates before you buy.
You can’t base your remodel costs on your sister-in-three-year-old law’s bathroom remodel. Construction costs, flooring prices, and labor costs all vary significantly. Get a few quotes, ask around, and have a reasonable estimate. You might even get some extra cash from your lender for your house renovation.
Justo wants you to love your home and the home-buying process. We specialize in assisting first-time home buyers like you. Our helpful realtors are standing by to assist you with every step of this exciting (but confusing) process — all while saving you thousands of dollars!
You Do Not Obtain A Pre-Approval Mortgage
It’s so easy. It does occur. It’s even possible to do it online (and compare rates). However, some home buyers do not get pre-approved for a mortgage before beginning their search. Many people do this because they want to see what’s on the market first.
My response: What if you do find the ideal house?
You might miss out if you don’t have your financing in place. Getting pre-approved for a mortgage is the simplest way to avoid being caught. It’s simple and takes about 30 minutes if all of your paperwork is in order.
To conclude, I would suggest that you avoid the situations they don’t mention above or even if you can’t avoid them, you should be able to negotiate a deal where there is no winner and especially if you are going to buy then you should get a favorable price and this deal where no one wins. Still, everyone agrees that it was a good negotiation is where you will get that fair price.
For first-time home buyers, it is essential to prioritize preparation over excitement. The more money you have, the more appealing you are to buyers. Putting down 20% or more makes you appear more financially stable and gives sellers confidence that you’ll qualify for a mortgage.
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