www.huntinghouseblog.com

First time homebuyers face many challenges and decisions when it comes to buying their first home; by following the list below, you can avoid the 10 most common and expensive mistakes.
1. Before you go looking for the perfect home, you’ll need a budget to find out what you’ll be able to afford.
2. Do a credit check and understand you credit score.
3. Contact your financial institution and get pre-approved for a home loan.
4. You need to understand the housing-market trends. Sometimes the market favors the seller, somethimes the buyer.
5. Consider the home’s resale value.
6. Don’t blindly follow your realtor’s advice. There are 3 types of realtors: sellers agent buyers agent dual agent Do some research to find an experienced agent that puts your needs first.
7. Don’t trust verbal agreements. Get everything in writing to eliminate the risk of the seller backing out.
8. Don’t forget the hidden costs in figuring you budget: appraisal fees credit report fees escrow fees notary fees homeowners insurance required by lender & property taxes
9. Don’t bypass the home inspection: what may look perfect on the outside, may have major problems structurally.
10. Don’t fall in love with a house (till after all the papers are signed!).