Top 7 Mistakes First-Time Homebuyers Make

Mistake #7) Looking at Homes You Can’t Afford

First time homebuyers can't afford this giant mansion.

Many first-time buyers waste a lot of time looking at houses out of their price range. Determine what you can afford. Check with a qualified and recommended Mortgage Broker or Banker and get a pre-approval letter from the lender that you can use in your negotiations with the seller.

Mistake #6) Not Having Your Priorities Straight

Balance what you need as a first-time homebuyer

What are your true needs and wants when it comes to buying a home? Talking this out with an expert who will listen carefully to what you are saying is a big asset to a first-time buyer. An Exclusive Buyer Broker’s advise is pure since they only ever represent homebuyers.

Mistake #5) Not Having Help Dealing with Regulations

Don't get buried in paperwork as a first-time homebuyer

Many first-time homebuyers crash and burn on the rocky shoals of housing regulations. Lead Paint? Asbestos? Radon? Farming Disclosures? What is Title V? Sanitation? Well Water? A Buyer Broker can give you another perspective and will take the time to help you through the details of all these regulations.

Mistake #4) Making too high an offer

Stacks of Cash - don't make too high an offer!

How do you know what a house is worth before you make an offer? Have your Exclusive Buyer Broker do a Comparative Market Analysis for you so you can see what would be a reasonable amount to offer on a property.

Mistake #3) Buying a House That Isn’t Right for You

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A traditional storefront real estate office represents the parties┬átrying to sell the homes displayed in their windows. Of course they are going to try and talk you into buying a home they have listed, even if it is not right for you. An Exclusive Buyer Broker is more likely to help you understand why you should not buy a particular property – a hugely valuable perspective that many first-time buyers overlook.

Mistake #2) Not Having a Good Negotiator on Your Side

An Exclusive Buyer Broker negotiates for you, the buyer.Getting a good negotiator to help with the negotiation of the sale is key to helping you get the best price the owner will accept and the best terms and conditions for you, the buyer. An Exclusive Buyer Broker comes to the table ready to negotiate hard for you. Why ask a Real Estate Agent who lists properties and represents sellers one day to represent you as a buyer at the negotiation table the next? An Exclusive Buyer Agents is on your side all day, every day.

Mistake #1) Not using an Exclusive Buyer Agent

margIf you’re finally ready to buy a home for the first time, why wouldn’t you choose to work with an Exclusive Buyer Agent?

Contact Berkshire Hearth Realty and Marguerite De Santis today to setup a free initial consultation.