07/29/2026
Let’s talk about some of the biggest mistakes that first time home buyers make!
• House shopping before getting pre-approved! Not only is this a dangerous financial move, there’s so much uncertainty in this. You don’t know what you’re approved for and what budget you have. Having a concrete number in place provides you with an opportunity to appropriately budget for future monthly mortgage payments, monthly bills and closing costs.
•Waving the home inspection. While this saves money upfront, it can lead to a lot of financial problems down the road! You would be making the biggest purchase of your life without knowing the true condition of the house you are buying.
• Jeopardizing your credit score. Your credit score from the moment you start house searching to the end of it is so important. Your credit score may be pulled multiple times prior to your house closing, it’s important to keep your credit score the same or better. That means no big purchases or debt accumulation during this time.
•Overlooking the neighborhood. You might love the house, but did you scope out the neighborhood? Are the schools good? What is the proximity to work and amenities? Are you near train tracks? These details really do matter when you buy a home and although you might love the house, these neighborhood factors may change your mind and can be easily overlooked when falling in love with the inside of a home.
•Not being aware of the upfront costs when buying a home. There are closing costs, land transfer taxes, title search fees, utility start up fees and more.
Take the time to find a knowledgeable realtor that you trust and knows the ins and outs of the buying process. When it’s a process that’s new to you, take the time to vet who you’re using to make the biggest purchase of your life!
