Buying your very first home is a big financial commitment. As such, it’s only natural that you want to find the perfect house. Unfortunately, your quest for the “perfect home” can add a lot of unnecessary pressure. When this happens, many first time home buyers end up making costly mistakes.
Knowing the mistakes that are commonly committed is the first step to avoiding those mistakes yourself. With that in mind, here are several mistakes experienced real estate agents would like you to avoid making:
Three Real Estate Mistakes First Time Home Buyers Should Not Make
1 – Taking Advice from Too Many People
It’s perfectly fine to ask for the advice of someone who has experience in purchasing property. Things become complicated, however, when talking to people from outside of the Boston North Shore area. Property markets can vary wildly from place to place. The advice your uncle from Texas has may not be applicable to the market in the Boston North Shore area. This is why it is important for you to hire a trusted local real estate agency like Boston North Shore Real Estate.
2 – Not Factoring In Resale Value
Things change and you may find that the home you bought a few years back no longer meets your needs. Your company may transfer you outside of Massachusetts for work. This is why it is vital to understand the resale value of a home. If any unexpected scenarios occur, you can at least recoup your investment.
3 – Trusting Verbal Agreements with the Seller
First time home buyers, as well as experienced investors, should know that agreements you have with the seller should be always be in writing. This is especially important if the seller agrees to make any necessary repairs to the home before it is turned over to you. You don’t want to draw the short end of the stick if it becomes a battle of “he said, she said”. Protect yourself and have your real estate agent add any agreements you and the seller make to the contract in writing.
We have a lot more tips for first time home buyers as well as the veteran home buyer who’s bought and sold before over under the Boston North Shore Home Buying TIps section just below the Boston North Shore Real Estate Categories. And remember, we also post tips daily on Facebook and Twitter. Check us out there, too.