1. Searching for a home before mortgage qualification
Unless you can afford to pay cash for your first home, you need to qualify for a mortgage loan first. Getting pre-approved for a loan before going on the hunt for a home will prevent you from falling in love with a place out of your budget.
2. Being unsure of what you can actually afford
First time home buyers often fail to consider all the other expenses that come along with life and being a new homeowner. Things like property taxes, student loans, credit card bills, groceries, health insurance, etc. are important to consider in your budget first.
3. Letting go of what’s actually important
A lot of first-time buyers will actually settle for a place even if it doesn’t have one of the main things they’re looking for. They’ll find a place they like that’s cheaper and go with it, even though it only has 2 bedrooms and they know they want to have another kid and need 3.
4. Not using a realtor
This is important for everyone, but especially those who are new to home buying. Not getting professional help isn’t smart, and you could end up making far more mistakes than you would with a realtor. Real estate agents have your best interest and will guide you and advise you to make the best financial and personal decisions.
5. Not getting an inspection
Knowing exactly what kind of shape the house is in is crucial when buying. Otherwise, you could end up having to spend a ton more money than you thought on repairs you didn’t even know were needed. Knowing the exact conditions of the home will prevent you from making potentially serious financial mistakes.
The Orange Line Living team is made up of experts who match the right homes with the right people. Our experienced agents will work with your specific needs to find you the perfect home. We offer free home buying seminars where we’ll give you tips and answer your questions. Visit arlingtonhomebuyerclass.com to sign up; our next class is Monday, April 23rd!