How to Avoid These First-Time Home Buyer Mistakes

How to Avoid These First-Time Home Buyer Mistakes

Buying your first home can be a bit hit and miss if you don’t have the right help or support behind you. It’s easy to get caught up in the excitement of it all, and let little mistakes slip through.

Here are the top five mistakes first-time home buyers make and how to avoid them!

1. Not doing your research properly.

The biggest mistake any new home buyer can make is to rush into things, and not do enough research before buying. Employing the help of an experienced real estate agent can help you to avoid this, by doing most of your research for you!

2. Not getting your home loan pre-approved.

Just knowing that you qualify for a loan is not enough. Before you start looking at properties, you need to be sure that your loan amount will be enough to cover the costs of your dream home. Once you’ve decided on your budget and the amount of extras you want to spend on your first home, give us a call. We can help find a home that will fit exactly within this budget.

3. Being influenced by trends in the market.

Following trends is something we all fall victim to at some point in our lives. Whether we’re talking about trends in the fashion industry, fad diet trends, or homebuying trends. As a first home buyer, it’s important to keep your attention focused on looking at properties that will be most suited to you and your needs, rather than what’s the most popular.

Don’t worry though, we can definitely help you find a suitable home that fits with your idea of perfection!

4. Falling in love too early.

This one happens more than you’d think, especially with first-timers. Getting hooked on the first house you look at is an easy mistake to make. But it’s important to weigh up your options and make sure that it does tick all of the boxes you need ticked, before settling. Keep your options open.

5. Underestimating the excess costs involved.

As with any big financial decision, you should always plan for there to be a few extra costs involved with buying your first home. There’s nothing worse than setting a very specific budget and not factoring in extra expenditure, then dealing with stress because you’ve busted through it. Extra costs to consider include home insurance, stamp duty, moving costs, transfer fees, etc.

Again, if you need help finding the right home for the right price, we can help you. All you have to do is pick up the phone!

 

Did you know that the Queensland First Home Owner’s Grant has been boosted to $20,000? The grant ends on the 30th of June this year, so you’ve only got one month left!

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