New home buyers make mistakes when they start home hunting on their own. I couldn’t possibly count all that I’ve witnessed but it doesn’t have to be this way. I encourage you to make the decision to get your real estate professional involved from the start so, together, you will avoid these top six mistakes.

Mistake #1: Not getting pre-approved for funding before searching.

Having a pre-qualification letter in-hand before beginning your search assures your REALTOR® that there won’t be any funding hurdles to jump across once you’ve set your heart on the home of your dreams nor any disappointments when the funding you thought you could easily attain doesn’t come through. Talk with your preferred lender before going on house visits.

Mistake #2: Taking on too much financially.

Statistics show that many first-time buyers assume if they can afford to buy the house, they can afford to live there. There are numerous costs associated with homeownership. Run the numbers first and know where that number caps.

Mistake #3: Spending all the money on the down payment.

Once you’ve saved every penny towards the 20% down payment needed to make the purchase you don’t want to realize your savings are depleted. Remember Mistake #2 because you will still need money for living and for pop-up expenses associated with homeownership.

Mistake #4: Skipping the home inspection.

It’s so tempting to want to skip the home inspection because to your eye everything looks fine but don’t do it. A professional inspector is worth the money to uncover any issues before the sale is completed and the contract signed. An inspection allows you the option to walk away from the house or negotiate compensation to make the needed repairs.

Mistake #5: Failing to hire a REALTOR® or instead using the Seller’s Agent.

If on a whim you go on home visits and decide, then and there, to make an offer without first consulting a REALTOR® you may not get the best price nor have your best interests honored. Why not use the seller’s agent for everything? Because the seller’s agent is contracted first to the seller, honoring the seller’s best interests. While this agent can also work with you as the buyer, it’s tough for the same agent to juggle minding the best interests for both parties in the same transaction. Do everyone a favor and work with your own REALTOR®.

Mistake #6: Failing to see the neighborhood or your must-have list instead of the dream home.

When you find your dream home the rose-colored glassed may come out causing you to overlook your must-have list or the neighborhood location. If you truly need three bedrooms but if this dream house, with the adorable mid-modern style and large yard, has only two bedrooms it’s not practical to pack all the kids into this smaller space. After moving in and living here a bit you may feel disappointed and unhappy about the ignored must-haves.

These are powerful mistakes new home buyers make. By working with your real estate professional and heeding this expert’s advice you can save a lot of stress and headaches. Don’t hesitate to reach out to us to ask your questions. The Bean Group has real estate listings spanning the New Hampshire seacoast and Southern Maine area.