Biggest Rookie Mistakes By First Time Homebuyers

Biggest Rookie Mistakes By First Time Homebuyers

Buying your first home can be overwhelming and be the most complicated purchase you will ever make. That is why it's crucial to avoid these top rookie mistakes:

1. Not getting pre-approved for a loan before looking at properties. If you find the home of your dreams and you don't have a pre-approval you could lose it at soon as you found it. When an offer is submitted to a seller it must be accompanied by a pre-approval letter (or proof of funds if you are lucky enough to be paying cash). It can take up to five days to get a pre-approval so chances are if that home is a desired property, it will be sold before you get the pre-approval. Plus you don't want to be looking at $200,000 homes if you can only afford a $150,000 home. 

2. Not saving enough money. The down payment is just the beginning. Even if you are getting a zero down or low down mortgage and the sellers are paying your closing costs, you still need money saved up to buy home. Have you considered the cost of moving? furniture? window coverings? what if the furnace goes out in three months? You have to be prepared! You don't want to be in a position where you have to choose between groceries or fixing your house.

3. Not getting a home inspection. This is my personal favorite. Home inspections are a must! You don't want to move into a home to find out the walls are hollow because a million carpenter ants have been munching on the studs for months. Moving is costly enough! You don't want to have to do major repairs right after you move in or live with pesky critters crawling across your quilt at night. 

If you have questions about getting pre-qualified or about homes for sale in Mohave County give Nest Egg Realty a call at 928-715-7677 or email us at nesteggrealtyaz@gmail.com.

Keep an eye out for my next blog...Getting a Home Warranty.


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Phone: 928-263-7248
Dated: October 4th 2017
Views: 197
About David: I am a long time resident of the Kingman area (almost 40 yrs) and have met many great people along t...

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David Watson
2201 N Stockton Hill Rd Ste A
Kingman, AZ
928-263-7248