How to Buy Your First Home....the Easy Way!
Avoid the 10 Most Common, Painful, Frustrating Mistakes First-Time Home Buyers
Buying a residence can be a hair raising experience.
You will experience a roller coaster of emotions while finding the right
place, securing the loan and finally moving in. For most of us, the
first time home purchase is the largest investment we've ever considered. The
emotions of purchasing something so expensive and personal can often cloud our
Most home purchasers do little or no research before
they invest their nest egg. Doesn't it make sense to become as completely
informed as possible before you buy your first home? This special report is
designed to help you avoid 10 common and crucial mistakes. The right
real estate professional can help you make good sound business decisions based
on your personal situation.
1. Inspect, Inspect and Inspect - Go over the inspection report with a
fine tooth comb. Make sure the report was done by a professional organization.
For condo purchases go over the CC&R's, By-Laws, and Association Fees. Don't
take anything for granted... inspect everything!
2. Imagine the Property Vacant - Your furnishings and decorations will
be the ones filling this new residence. Don't be swayed by beautiful
furniture; it leaves with the owner.
3. Income + Lifestyle = Mortgage Payment - Sit down with your
professional real estate agent and honestly discuss your income level and
living expenses. Take into account future considerations, children, add-ons,
amenities, and fix-ups. Your dream home is certainly worth a sacrifice but
don't mortgage your entire future.
4. View Several Homes - See at least 7-10 properties. Don't move too
slow but don't move on the first property you see. With your agent's help you
should be able to view enough properties to get a good overall perspective of
the home market. When you find the right property all the leg work will be
5. Utilize Your Team - By aligning yourself with the right real estate
professional you will have an entire team at your disposal. Utilize your
lender, title rep and agent. Each of them should work hand in hand for your
benefit. Explore all the options before you sign.
6. Be Columbo - Check out all costs and expenses before you sign.
Utilities, taxes, insurance, maintenance and home owner dues if applicable.
Make sure all utilities (gas, electricity, and water) are on during your
walk-through so you can inspect everything in working order. Ask lots of
questions and be very detail conscious.
7. Do a Final Walk-Through - Visit the property after all furnishings
have been moved out to be sure there are no surprises. Be absolutely positive
the property was left exactly as you had agreed upon in the contract. Things
that could have been spotted in a final walk-through are often unintentionally
8. Plan For Flexibility - Closing dates are not written in stone. Allow
for contingencies and have a back-up plan. If you or the sellers need a little
more time to conclude the final arrangements, don't let these delays upset or
frustrate you. These types of circumstances are not uncommon in a real estate
9. If It's Not In Writing, It Doesn't Exist - All promises and
discussions should be in writing. Don't make any assumptions or believe any
assurances. Even the best intentions can be misinterpreted. Have your
professional keep an ongoing log in writing of all discussions and get the
seller's written approval on all agreements.
Loyalty Breeds Loyalty - Be open, honest and up front with your team. Hard
feelings and disloyalty will cause head aches, delays or may even keep you
from getting into the home you worked so hard to locate. Take the time to
select the right team in the beginning and your first home purchase will be a
pleasing and memorable experience.