5 Deadly Mistakes That First Time Homebuyers Make.

It’s no surprise that when buying our first home, we want everything to be perfect. We have this picture of a lovely house with a big backyard, open spaces and what not. Often, as we drown ourselves in the fairy tale of owning a fantastic home that we wish to call ours, we make mistakes that turn our dream into a nightmare. So before becoming a victim, we have to make sure we do something about it.

Here are 5 mistakes that we should avoid when diving into the process of home buying.

1. Not doing enough research. For every project that you are about to invest in, which involves your hard earned money, do some research and look for valuable information. When buying a home, be sure to check out the market, neighborhood information and such. Ask a local expert for advice.

2. Not double checking finances. When buying and bidding on a house, make sure you double check your finances. Remember, buying the house is only the first step, you also have to think about whether or not you can keep the house together, pay the monthly bills, mortgages and other expenses.

3. Not hiring a real estate/local expert. The real estate scene is a cut throat business and since you are a first time homebuyer, some agents might take advantage of this. Just ensure that you hire a person who is credible and knows what he is doing. Do some research and ask for referrals. It never fails to be cautious.

4. Getting too emotional. It’s quite normal to be a little emotional during the process of making a home buying decision but don’t let it overwhelm you. Make sure you have clear, unclouded judgement as not to simply see just the positive attributes of the property you’ve fallen in love with. Take notice of the negative attributes as well.

5. Not doing any home inspections. Like what has been said above, there are times when we get too caught up with our emotions and we just want to close the deal and forget about everything else. Home inspection is crucial for any home buying endeavour. It is important to hire a home inspector to do a full home inspection on any property you intend to purchase. The worst situation you may find yourself in is owning a home that has serious foundational problems, insect infestation, plumbing/sewage problems, etc…

Owning your dream house can still come true and can still be within your grasp. Protecting one’s self from these mistakes will give you a peace of mind and can save you from any troubles experienced during the home buying process. Don’t skip out on the necessary preparations and don’t forget to do your homework. It’ll pay dividends, I guarantee it!

Resources:
http://www.wellingtondailynews.com/lifestyle/homeandgarden/x1497929984/Dear-Monty-Ten-best-tips-for-homebuyers
http://www.smartmoney.com/spend/real-estate/10-mistakes-first-time-home-buyers-make/
http://money.msn.com/home-loans/10-first-time-homebuyer-mistakes-investopedia.aspx?page=2

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