Biggest mistakes made by first-time homebuyers

by | Dec 5, 2016 | Blog, Buying a Home, First Time Buyer tips

Buying a home for the first time can be stressful. In addition to paying large sums of money to a lender, buyers face complicated contracts and deal with unfamiliar reports from professional appraisers and inspectors. No wonder many often lean on family and friends for advice.

When this advice is taken over that of a real estate agent, however, buyers can be led astray. In fact, it’s one of the top mistakes a buyer can make, according to a recent poll by Inman a source of real estate news.

Inman surveyed 582 of their readers about the biggest mistakes they’ve seen first-time homebuyers make. “[T]he overarching theme from respondents was the lack of trust first-time buyers have for their agents.”  But leaning on family and friends, say survey participants, “can hold up the search process and derail an offer.”

Inman concludes: “The resounding piece of advice readers offered was: ‘Listen to your agent!’”

Here are other mistakes readers cited, in order of occurrence:

Not talking to a lender first

Waiting too long to make an offer

Offering too little for a property

Looking at too many homes

Getting too emotional

Choosing the wrong agent

Skipping an inspection

Looking in the wrong location

Overpaying for a house

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