3 Mistakes First Time Home Buyers Make

What Are the 3 Biggest Mistakes I See First Time Home Buyers Make?

  1. Buyers Who Start Looking for a Home Before They Talk to a Lender.—  This is a huge mistake.  For one you really don’t know what your purchasing power is.  Also, in today’s market when you write an offer you will need to submit your full pre-approval letter with the offer.  Now this isn’t real estate’ law’, but it is what every other buyer is doing.  Imagine you are selling your home and you receive an offer, or two.  Which one would you take more seriously.  The one with a full pre-approval, or the one where the buyer isn’t even committed enough to speak to a lender.
  2. Buyers Who Wait Too Long to Make an Offer.  If the home is a good deal believe me you won’t be the only buyer who notices.  Prepare yourself and know what you want.  Make a list of the qualities that are most important to you and then prioratize that list into Needs and Wants.  You will never be able to find a home that meets every quality your are looking for, but you can find one that meets the most important ones.  Once you do that you will be able to act swiftly when you find the home that fits.
  3. Buyers Who Don’t Make Their Offer Attractive Enough to the Seller.    Right now inventory (homes available for sale) is very low.  The lower the inventory the more likely it is that there will be multiple offers on the home you want.  You must take this in consideration when making your offer or you are just wasting your time.  There are many ways to make your offer more attractive to the seller while still protecting your interests and getting what you want.  You should discuss with your Realtor how to make your offer more attractive.  Your ability to do so depends on factors that are individual to you and your situation.

If you are thinking about buying a home please check out my many articles under “Buyer-centric“.  I am always here to answer your questions when you need me.

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