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#302959 - 08/18/09 12:23 AM 3 Pitfalls for first time homebuyers
Harold Hing Offline
Junior Member

Registered: 08/14/09
Posts: 6
Loc: Seattle, WA
Hi All,

I'm trying to compile a manual for my first time home buyers about the most common mistakes that come along with buying your first home. I would love to hear about your top 3 pitfalls to watch out for.

Here are my 3:

1. Budget - Clearly budget out how much it costs to buy a house. Factor in the mortgage, taxes, hoa, insurance, utilities, etc. Once you know what that number is try and save that amount of money for 2-3 months before you purchase your home. See how it feels to live with that mortgage before taking it on.

2. Don't let your emotions rule you - Its very easy being a first time buyer to fall in love with the first home you see. Try and at least look at several homes sleep on it for a couple days and bring a trusted friend of experienced family member to look at the place.

3. Ask questions and do research - Don't completely rely on the agent. You are responsible for doing your own homework, ask questions, and know what you are signing!

Would love to hear your input!

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#302994 - 08/18/09 09:29 AM Re: 3 Pitfalls for first time homebuyers [Re: Harold Hing]
REODayton Offline
Major Contributor

Registered: 07/27/06
Posts: 3699
Loc: Dayton Ohio
Don't go out and finance a new car and furniture 3 days prior to closing.

An easy one but suprisingly people forget. Bring your picture ID with you to closing. Its amazing how many people forget their wallets.

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