In his many years of helping first time home buyers select the right home, Carl has seen many people make a few mistakes. The best news, however, is that by reviewing the following list, you can learn from the mistakes of others.
Full speed ahead
In a flurry of activity first time homebuyers will surf the Internet, call friends, check out all the advertisements - without planning. This haste could be disastrous. Carl has heard: "We've changed our minds." "We found another home." "We are buying too much house." Canceling a legal contract could be both emotionally and financially costly. Plan ahead before you do anything.
Becoming house poor
If you buy too much house for your budget, you'll be "house poor." You'll have a nice house, with little else Almost every dime of your income will go towards mortgage payments. Be wise. Leave some breathing room.
Not seeking professional help
Carl has heard it many times. "Why didn't I choose a professional?" "I didn't do as well as I thought." A professional realtor can get you the right home at the right price.
Don't accept the first plan presented to you, whether it is from a mortgage broker, an Agent or on the recommendation of a friend or relative. Shop for the best mortgage for your needs.
Shopping without pre-approval
If you have to wait for pre-approval, after you make an offer, you could loose the deal. When you're prequalified, you have maximum strength and buying power.
Waiting for the "perfect" home
There are numerous variables when looking for a new house, including location, style, size, amenities and condition. While looking the perfect house, prices climb.
Not completing an inspection
Invest the $300 to $500 for a professional inspection. You'll know about any major repairs in the next few years.
Over the phone or in person? Carl will review the entire process with you.