How to Buy Your First Home... the Easy Way!

Avoid the 10 Most Common, Painful, and Frustrating Mistakes First-Time Home Buyers Make!
Buying a residence can be a hair-raising experience. You will experience a roller coaster of emotions while trying finding the right place, securing the loan and finally moving in. For most of us, the first home purchase is the largest investment we've ever considered. The emotions of purchasing something so expensive and personal can often cloud our business judgment.

Most home purchasers do little or no research before they invest their nest egg. Doesn't it make sense to become as informed as possible before you buy your first home?

This special report is designed to help you avoid 10 common and crucial mistakes. The right real estate professional can help you make good sound business decisions based on your personal situation.

1. Inspect, Inspect and Inspect
Go over the inspection report with a fine-toothed comb. Make sure the report was done by a professional organization. For condo purchases, go over the CC&R's, By-Laws, and Association Fees. Don't take anything for granted... inspect everything!

2. Imagine the Property as Vacant
Your own furnishings and decorations will be filling this new residence. Don't be swayed by beautiful furniture; it leaves with the owner.

3. Income + Lifestyle = Mortgage Payment
Sit down with your professional real estate agent and have a candid discussion about your income level and living expenses. Take into account any future considerations, like children, add-ons, amenities, and fix-ups. Your dream home is certainly worth a sacrifice, but don't mortgage your entire future.

4. View Several Homes
See at least 7-10 properties. Don't move too slow, but don't move on the first property you see. With your agent's help, you should be able to view enough properties to get a good overall perspective of the home market. When you find the right property, all the leg work will be worth it.

5. Utilize Your Team
By aligning yourself with the right real estate professional, you will have an entire team at your disposal. Utilize your lender, title rep, and agent. Each of them should work hand-in-hand for your benefit. Explore all the options before you sign.

6. Act Like Columbo
Do some serious detective work. Check out all costs and expenses before you sign: utilities, taxes, insurance, maintenance and homeowner dues (if applicable). Make sure all utilities (gas, electricity, and water) are on during your walk-through so you can inspect everything in working order. Ask lots of questions, and be very detail-oriented.

7. Do a Final Walk-Through
Visit the property after all furnishings have been moved out to be sure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Things that could have been spotted in a final walk-through are often unintentionally overlooked.

8. Plan For Flexibility
Closing dates are not written in stone. Allow for contingencies, and always have a back-up plan. If you (or the sellers) need a little more time to conclude the final arrangements, don't let these delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction.

9. If It's Not In Writing, It Doesn't Exist
All promises and discussions should be in writing. Don't make any assumptions or believe any verbal assurances. Even the best intentions can be misinterpreted. Have your professional keep an ongoing written log of all discussions, and get the seller's written approval on all agreements.

10. Loyalty Breeds Loyalty
Be open, honest and upfront with your team. Hard feelings and disloyalty will cause headaches and delays, and may even keep you from getting the home you worked so hard to find. Take the time to select the right team in the beginning, and your first home purchase will be a pleasing and memorable experience.