Common Mistakes of First Home-Buyers

Don't have a "Doh" moment

Finding the first home is overwhelming, but here are a few tips that can eliminate problems during a lengthy short sale or bank owned sale.

  1. Don’t ask enough questions-Right from the beginning, a buyer should be comfortable with their agent and ask questions.  If they are not asking questions, then a buyer may not understand the process or they are not interested.  Prior to showing property, I will set up an informal meeting to discuss the current real estate market and what to expect.
  2. Slow Movers-As one of the biggest investments in anyone’s lifetime, buyers are hesitant to make an offer on the first property they like.  While it is completely understandable to think about an offer, the market does not allow for hesitation or the opportunity may be gone.  It is best that the buyer and agent know the location, property type, and other amenities prior to looking, so they can “jump for joy” once they found a similar home.
  3. Trying to get a good deal with lower offers-Everyone is looking for the best deal for them, but many buyers forget that pretty much any home in the San Benito County or most of California is a great deal already.  A buyer will quickly change their viewpoint once they are squeezed out of a potential home for a few thousand dollars.
  4. Don’t write an offer attractive to the seller-The sellers main focus is their net value of their sale. With every home inspection, report, repairs, etc. that the buyer asks the seller to pay in the transaction, the sellers rounding out the top dollar amount and it shrinks their final home value.  If a buyer wants something, then a buyer should be willing to pay.
  5. Think about the future-Buy the biggest house at the best price possible.  California Association of Realtors has researched that first time home buyers are more likely to move within four years after their first purchase.  Keep in mind that a first home is most likely not going to be the dream home.

One comment on “Common Mistakes of First Home-Buyers

  1. […] then to take a hit on price.  Be ready to make an offer when they are active, and read some common mistakes of a first time home buyer to get you ready. LD_AddCustomAttr("AdOpt", "1"); LD_AddCustomAttr("Origin", "other"); […]

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s