Edition 002
June 2024
Presented by: Preston Hartman
7 Mistakes to AVOID as a
First Time Home Buyer
Buying a home is a major milestone, Here are key errors to avoid:
- Not Getting Pre-Approved for a Mortgage:
- Shop for homes only after pre-approval to understand your budget and show sellers you’re serious.
- Overlooking Additional Costs:
- Budget for property taxes, insurance, maintenance, and closing fees to prevent financial strain
- Neglecting to Check Credit Score:
- Check your credit score early and resolve issues to qualify for the best mortgage rates.
- Skipping the Home Inspection:
- Always get a home inspection to uncover potential problems and negotiate repairs or price adjustments.
- Falling in Love with the First Property:
- View multiple properties and evaluate them objectively to avoid overlooking flaws.
- Not Researching the Neighborhood:
- Investigate the neighborhood's safety, amenities, schools, and development plans.
- Making a Large Purchase Before Closing:
- Avoid significant purchases before your home loan closes to maintain your financial standing.
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