• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • HOME
  • RECOMMENDED BOOKS
  • FREE TOOLS
  • CONTACT US
  • ABOUT

The Fortunate Investor

Investing, Business & Personal Finance For Wealth Builders

  • Save Money
  • Invest Your Money
  • Get Out of Debt
  • Making Money Online
  • Family & Money
  • Taxes
  • Business
  • Retirement
    • Retirement Calculator
Home » 3 Biggest Mistakes People Make When Buying Their First Home

3 Biggest Mistakes People Make When Buying Their First Home

May 31, 2021 By Bobby | This article may contain affiliate links. For more information visit our Disclosure

Tweet
Share
Pin
Share
Share

chaulk houseBuying a home is an extremely exciting milestone. However, along with the excitement can also be a considerable amount of anxiety. There are so many things that can potentially go wrong that it’s easy to get overwhelmed by it all. Since it’s such a big financial commitment, it’s important that you avoid some of the most common problems. 

Learning from the mistakes that others have made before you is a great way to avoid making them yourself. Take a look at some of the biggest mistakes people make when buying their first home. 

Not Using a Real Estate Agent 

Nowadays, there are so many television shows about buying your own property yourself that people believe that it’s as easy as pie. However, the reality is that it’s not as simple as it seems on TV. You need to make sure that you know what you’re doing if you hope to avoid getting stuck in a sour deal. One of the best reasons to use a real estate agent is because they have plenty of experience.  

Not to mention, it’s a lot of work! If you already have a day job and a family to look after, then trying to purchase your own property can be incredibly time-consuming. Outsourcing all this work to a real estate agent is a much easier and secure process. 

If you’re not sure who to use as a real estate agent, ask your friends and family. Chances are that they have received marketing material from a reliable agent and can pass the information on to you. Otherwise, online reviews are a great resource for finding a good realtor. 

Not Getting Pre-approved for a Loan 

Rather than relying on an online loan calculator alone, you should instead get pre-approved. That way, you know exactly how much money you have to work with and whether you can afford the houses you’re viewing. Wasting your time looking at houses that are way outside of your price range is a waste of everyone’s time—including the sellers. 

Not Doing Research on the Neighborhood 

All too often, people look at the home itself and not the neighborhood that it’s in. Remember, if you’re planning on living somewhere, you’re going to be affected by the environment. You want to make sure that there are good neighbors, there’s a good school district, and that there’s no crime nearby. This is especially important if you’re planning on raising a family in your home. Always do your research on the neighborhood. 

Mistakes are bound to happen to anyone, especially during the real estate buying process. However, by familiarizing yourself with some of the most common ones and staying careful, you will be purchasing the home of your dreams in no time.  

  • About
  • Latest Posts
Bobby
Latest posts by Bobby (see all)
  • What to Know About Gold IRA Companies - August 13, 2022
  • Do ETFs expire? - August 11, 2022
  • Useful Tips for the Growth of Your Business: A Comprehensive Guide - August 11, 2022

Primary Sidebar

Popular Articles

What to Know About Gold IRA Companies

What to Know About Gold IRA Companies

In contrast to today’s more turbulent stock market, gold has recently been shown to be a source of … Read More about What to Know About Gold IRA Companies

rent high

Why Is Rent So High, and What Should Investors Know?

Are you an investor looking to make solid investments? If so, you need to know about the current … Read More about Why Is Rent So High, and What Should Investors Know?

types of ETFs

Do ETFs expire?

Exchange-Traded Funds, shortened to ETFs, are investment vehicles that allow investors to purchase a … Read More about Do ETFs expire?

portfolio

4 Tips for Building the Best Investment Portfolio

The pandemic forced around 9% of Gen Xers and about 14% of Millenials to borrow against their … Read More about 4 Tips for Building the Best Investment Portfolio

Useful Tips for the Growth of Your Business A Comprehensive Guide

Useful Tips for the Growth of Your Business: A Comprehensive Guide

Business growth is essential for any company, regardless of its size or stage of development. But, … Read More about Useful Tips for the Growth of Your Business: A Comprehensive Guide

Footer

TOPICS

SAVE MONEY
INVEST MONEY
REDUCE DEBT
MAKE MONEY
FAMILY & MONEY
TAXES
START A BUSINESS
RETIREMENT

THE FORTUNATE INVESTOR

ABOUT US
ADVERTISE
CONTACT US

The Fortunate Investor focuses on personal finance topics to build wealth. Topics include saving money, investing, managing debt, family and money, taxes, making money, college planning, starting a business, coupons and retirement.

SOCIAL MEDIA

FACEBOOK
TWITTER
PINTEREST
INSTAGRAM
YOUTUBE

Copyright © 2022 Fortunate Investor. All Rights Reserved. | Disclaimer & Disclosure | Privacy Policy | Terms of Service