First Time Home Buyer Mistakes That Are Completely Avoidable

Practice makes perfect, so first time home buyer mistakes happen frequently. The good news is many of them are completely avoidable if you know what to watch out for.

Mistake #1 – Not Putting Everything in Writing –

When it comes to real estate contracts, everything needs to be in writing. Anything that is not extremely clear-cut should be spelled out. For example, if it’s not permanently fixed to the home the seller can take it with them. Note everything that you want to stay with the property, all contingencies and anything else you feel could possibly need clarification.

Mistake #2 - Not Getting the Home Inspection Done During the Contingency Period –

Every home, even new ones, should have an inspection. Because the inspection could uncover potentially serious issues, it should always be done during the contingency period in case there’s a deal-breaking problem.

Mistake #3 - Letting Home Inspection Problems Derail a Deal –

Home inspection issues are a legitimate concern, but they can quickly kill a great deal. Don’t sweat too much of the small stuff. Focus more on the problems that affect the property value or could lead to more issues down the road.

Mistake #4 - Ignoring Home Foundation Problems –

If you’ve found the perfect home but it has foundation issues, it’s not perfect. Home foundation problems can reoccur even if they’ve been fixed. Another mistake people make is relying on the fact that the fix has a lifetime warranty. If the foundation company goes out of business the warranty is out the window.

Mistake #5 – Letting Emotions Overrule Logic –

Your living space is a very personal decision, but a house is also likely to be your biggest investment.