Buying a first home can be exciting. The action of looking around at the homes in your area, mixed with the hopeful thrill that you'll find your future home, can be enough to get anyone's blood pumping. But, unfortunately, many first-time homebuyers make mistakes that could have easily been avoidable.
Here are the top things to learn to avoid!
Buy At The Top of their Budget
Buying at the top of your budget may not seem like a huge issue. After all, many people gain more of an income over time; they assume that means eventually they won't have to be house-poor. Why start your homeownership with being house poor, though? Instead, try to save yourself and only spend 4/5ths of your budget or less. This will give you room to work while also letting you buy a home that suits your needs.
Jump On A House Without Researching
Some first-time homebuyers will leap on a home and purchase it without thinking everything through. Unfortunately, this could lead to buying a home that's in a dangerous flood zone or buying something in an area near a pig farm that will stink for several months of the year. Seasoned home buyers know better, but new buyers will often get lost in the excitement and forget to look into more information on the home.
Go Without A Realtor or Agent
If you're a first-time buyer, and you go into this without a professional's help, you're going to be looking at a lot of disappointment and legal issues. Realtors know every step of selling a home and understand the legal needs of property-changing hands. They can tell you where the best Whistler homes for sale are and which properties to avoid if you want to make your money back.
Buy A Home for its Looks
Many new homeowners buy a home like it's love at first sight. Unfortunately, this could lead to them having to do extensive renovation they weren't ready for or give them problems with an area that they weren't prepared to move to. Falling in love with a listing online and the idea of the house is perfectly normal, but it shouldn't color how you look at other homes or how much you could take on with an older home.
Get More Land Than They Need
It may seem like a good idea to buy as much land as you can afford, especially since the price of land seems to get higher every day. But, unfortunately, this can lead to first-time homebuyers who don't know what to do with their property and end up letting it grow wild and free with dandelions. Although this could be pretty, it also means that they could be hit with fines from their local HOA, and allergy sufferers near them could be put at major risk.
First-time home buyers have a lot of learning to do, so it's okay if it takes them some time to acclimate, just as long as they learn from any of their missteps.