Rookie Homebuyer Mistakes to Avoid

Being a first time homebuyer is full of challenges and possible pitfalls that could be around every corner, but it doesn’t have to be that way! There are several things you can do to avoid common mistakes made by rookie homebuyers.

The first step is knowing your credit score and being realistic about your finances. Many people have no idea what their credit score is, what kind of score they need to purchase a home or how to improve the score if needed. This is a critical component of buying a home. You can obtain your credit report once a year, free of charge, from various online sites. Make sure they are reputable before entering any personal information, or speak to your bank or mortgage lender about your credit report.

Your next step is to obtain the services of a licensed Raleigh Realtor. This person can guide you through many of the twists and turns involved in home buying. He or she can recommend a lender that can review your credit score and other financial information such as income, to give you a clear picture of how much home you can afford. Also by hiring a real estate professional, you are getting the assistance from someone that knows what to expect as well as what to avoid when purchasing a home. A seasoned agent will have a wealth of knowledge and experiences to draw from to make your transaction as smooth as possible.

Once you have narrowed down your price point and location, you will start looking for a home that best fits your needs. Another rookie mistake to avoid is trying to make a house fit everything on your “wish list”. Things such as location, price range and generalities like the number of bedrooms are things to focus on, not a whirlpool tub or hardwood floors. You will need to have some flexibility in the items you must have versus those you just want to have.

These simple tips can help you to avoid some typical mistakes made by novice homebuyers, which will save you time and money!

January 21st, 2011 by Amy Tortorella

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