Mistakes to Avoid When Buying Your First Home
Common Mistakes When Buying Your First Home
Not Knowing What You Can Afford When Buying Your First Home
Many first-time homebuyers will go into the home buying process not knowing how much they can realistically afford. It is best to know how much you can afford before looking at houses that could be over your budget. It is smarter to look at lower-priced homes at the start to see what you are interested in and then go up from there. Use a mortgage affordability calculator to determine what price range is best for you.
Buying Your First Home After One Mortgage Rate Quote
Too Small of a Down Payment
Ignoring All Loan Types
First-time homebuyers are excited about their new home journey and sometimes pick a mortgage loan without researching all loans available to them. However, many government loan programs make buying a loan easier with zero or little down. Examples include VA loans, USDA Loans, and FHA Loans.
Emptying Your Savings
Shopping for a House Before Getting a Mortgage
Ignoring Repair and Renovation Costs
Buying your first home is a big decision. Don’t make common mistakes that many first-time homebuyers fall victim to. Our team at HomeHunt can help you make the best decisions when it comes to buying a home.