5 Common Mistakes to Avoid as a First Time Home Buyer

Deciding it's time to purchase your first home is a big decision. A decision that should not be taken lightly. But, once you make the final decision to move forward, that's the biggest hurddle.

Now comes the fun part, or what's supposed to be the fun part. Have you heard the horror stories of home buying? Everyone has one, but it doesn't always have to be so bad. Avoid these 5 Common Mistakes, and you'll be on your way to a simple transaction.

Mistake #1: Not Working with a Local REALTOR

Can you buy a home without a real estate agent? Absoutley! But, it's not for the faint of heart. There are many requirements, tasks and deadlines that must be organized and tracked. Finding a qualified & local real estate professional can save you time, reduce the stress and prevent you from making costly mistakes when purchasing a home.

Need a recommendation on a qualified, local REALTOR? Click HERE.

Mistake #2: Not Getting Pre-Approved for A Mortgage

In a competitive housing market, it is essential to get pre-approved through a local, trusted Mortgage Lender. It not only makes the Seller view you as a serious buyer, but can increase the chances of your offer being accepted. It also gives you an insight into how much you can afford. A quaility mortgage broker should be able to tell you how much you can afford, what you can do to help get the best rates and guide you through the entire process.

Need a recommendation for a qualified, local Mortgage Lender? Click HERE.

Mistake #3: Not Getting a Home Inspection

A home inspection gives you an insider view of the property's condition, including any possible repairs, maintenace issues or potentially costly repairs. You and your REALTOR can then use the detailed home inspection report to negotiate repairs, lower the purchase price and/or agree to Seller Assist.

Need a recommendation for a qualified, local Home Inspector? Click HERE.

Mistake #4: Not Saving for a Down Payment

A down payment can affect your interest rates and monthly mortgage payments on a home. With a large down payment, the mortgage is smaller and it's monthly payments are less burdensome. With that said, there are many programs out there to assist with the cost of a down payment and closing costs. You can ask the Seller for Seller Assist, find a local First Time Home Buyer Grant or find a loan program designed for a lower down payment.

Mistake #5: Buying a House You Can't Afford

Ever hear someone say they're "house poor"? Well, it's a real thing and it's not enjoyable. When buying a property, it's essential that you sit down and plan a budget early and include any additional costs that come along with owning a home. For example, property taxes, HOA fees, maintenace costs, utilities costs, etc. Purchasing a house that you can't afford comfortably can lead to stress and complicate your financial goals long term.

Click HERE to learn how to budget for a home purchase.

Avoid First Time Home Buyer Mistakes with the Zack Grimmer Group

The home buying process can be complicated, but the Zack Grimmer Group is here to assist you with navigating it with confidence and security.

Contact us to learn how our Home Buyer Commitment Program can help find your home, manage the transaction and have peace of mind along the way.

About the Zack Grimmer Group

The Zack Grimmer Group is proudly powered by eXp Realty. The team proudly serves communities in Pennsylvania, New Jersey, Maryland and Delaware with both residential and commercial real estate sales, leasing and investing.

Zachary Grimmer: Licensed in PA, NJ & MD | Shaliah Holloman: Licensed in PA | Krystal Torres: Licensed in PA & DE

The Zack Grimmer Group is an independt contractor of eXp Realty and this is not an official release of eXp Realty, its parent eXp World Holdings, INC or any related subsidiary.