Curtis Roddy, CEO @ RealTrac Info Systems,on Home-Buying Mistakes

The first time you do anything, you will invariably make some mistakes and this includes buying a home. Even experienced home buyers can still make a few mistakes along the way, but first time buyers are even more vulnerable. While you can’t necessarily avoid all the potential pitfalls of buying a home, here are 3 of the biggest mistakes and how to avoid them.

Not Adequately Preparing Financially

Finding a house that meets your needs is an incredibly time consuming process on its own. Once you put in an offer and have it accepted, the time commitment only increases exponentially. Long is the list of home buyers that get all the way to inspection or beyond only to discover they didn’t actually save enough for all of the expenses they will need to cover just to buy a home. An offer is a binding contract, which means sellers can’t keep looking for a buyer while under contract. If your offer falls through, it puts both you and the seller back at square one.

Not Using A Realtor

With the plethora of online tools available today, it can be easy to assume you no longer need the services of a realtor. This can be a grave mistake. Real estate agents are trained professionals that can help you navigate through the dizzying maze that is the home buying process. That being said, they are also not infallible and also work on commission. In some cases, they can (even if subconsciously) pressure buyers into buying a home that is just not right for them, just to close the sale. DO work with a reputable real estate agent but DON’T treat them as if they are the final authority on what is right for you.

Paying Too Much For A Home

There are a long list of ways in which home buyers can end up paying too much for a home or property. Keep in mind that one day you will most likely have to sell this home and if it’s a starter home, that time will not be too far in the distant future. You may end up paying more for a home than it is worth because you love the location or fall in love with the sliding barn doors. While the location may cause you to pay more for the home than it is actually worth, that doesn’t mean future buyers will and by the time you put your house on the market those charming barn doors may be considered nothing but an eyesore.