5 Mistakes to Avoid As a First-Time Homebuyer

The prospect of buying your first home is both exciting and nerve-wracking. On one hand, owning your own house is the final step of financial independence. You’re no longer accountable to a landlord and their rental agreement. On the other hand, buying a home is a huge financial decision that will determine where you live for the next several years.

As a first-time buyer, there’s a lot to learn about buying a house. You’ll often hear homeowners say, “I wish I knew that before buying this house.” So, in this article, we’re going to give you some common mistakes that first-time buyers make so you can have the best possible experience in the home buying process.  

1. Underestimating the costs

When first-time buyers get preapproved for a mortgage, they sometimes see this as permission to spend whatever amount they’re approved for. However, even after closing costs, there are a number of other expenses you’ll need to account for in your budget.

You’ll be responsible for maintenance, utilities, taxes, and repairing things when they get old. If all of your money is tied up just paying your mortgage and other bills, you won’t have anything left over to maintain your house.

Furthermore, living your life just to make your mortgage payments is draining. Instead, buy a house that gives you enough room to save for retirement, vacations, a family, or whatever else you see in your future.

2. Prequalify first

Before you start shopping for homes, make sure you meet some basic prerequisites. You’ll need a solid credit score, steady income history, and money saved for a down payment. You might set yourself up for disappointment looking at homes that are outside of your spending limit if you don’t get prequalified first.

3. This probably isn’t your last home

While it’s okay to dream about the future, don’t set unrealistic expectations for your first home. You can always upgrade later on, and building equity in your first home is a good way to help you do that.

4. Don’t get too attached to your “dream home”

So, you’ve been shopping around for a few weeks and finally found the perfect house. If everything goes well your offer could get accepted. But if it doesn’t, don’t worry about it. There are constantly new houses appearing on the market, and there’s a good chance you’ll like one even more than this one.

5. Don’t waive contingencies without good reason

Contingencies are there to protect you. They might seem like a way to needlessly complicate a contract. Or, you might think that waiving them makes you look better in the eyes of the seller. However, both sellers and their agents know that contingencies serve an important purpose.

The three main contingencies you’ll want when buying a home are an appraisal contingency, financing contingency, and an inspection contingency. Unless you’re buying under special circumstances, you’ll want to keep all three in your contract. 

Open house on 2/17/2019 at 35 Boardman St Worcester, MA 01606


Date: 02/17/2019 Time: 12:00 PM to 1:30 PM  
For Directions: feel free to contact me.  
For more information: click here for the full details  

Welcome to this wonderful bungalow located in the north part of the city with lots of natural woodwork and gleaming hardwood floors~~ Updated kitchen with granite counter tops and half bath just done 2 years ago~~Dinning room features a built in china cabinet and is open concept to the living room with a wonderful window seat~~All three bedrooms have walk in closets~~ Vinyl replacement windows done over the past few years of sellers occupancy~~Roof is appox 15 years old~~Recent hot water tank~~Fresh paint throughout~~ Economical gas heat and cooking range~~ Big THREE car garage equipped with electrical~~ This is one to put on your viewing list!!

Single-Family – 35 Boardman St Worcester, MA 01606 is now new to the market!

Welcome to this wonderful bungalow located in the north part of the city with lots of natural woodwork and gleaming hardwood floors~~ Updated kitchen with granite counter tops and half bath just done 2 years ago~~Dinning room features a built in china cabinet and is open concept to the living room with a wonderful window seat~~All three bedrooms have walk in closets~~ Vinyl replacement windows done over the past few years of sellers occupancy~~Roof is appox 15 years old~~Recent hot water tank~~Fresh paint throughout~~ Economical gas heat and cooking range~~ Big THREE car garage equipped with electrical~~ This is one to put on your viewing list!!

This is a Bungalow style home and features 6 total rooms, 1 full bath, 1 half bath, 3 bedrooms, 0.11 Acres, and is currently available for $239,900.

For complete details click here.

Multi-Family – 207 Burncoat St Worcester, MA 01606 is now new to the market!

Attention Builders, investors contractors, and handy-people come see one of the best values in Worcester! Private lot, very commutable to shopping Fantastic opportunity!!! Looking for a project with some instant equity? Consider this large 2 family in desirable Burncoat neighborhood area! Flexible setup if Buyer wishes to reconfigure the 2 family setup. Currently set up as a 2 br on first floor with 1 1/2 baths and 1 br on 2nd flr with 1 bath. Can easily be 2-3br per unit.This property is situated on a LARGE LOT that can offer plenty of off street parking!!! Newer efficient gas boiler and recent roof!! Heat currently turned off. Located minutes away from UMass Memorial, and Routes 290,190 & 495. Being sold “as is”, cash deal only, all offers to include pof.

This property features 7 total rooms, 2 full baths, 1 half bath, 3 bedrooms, 0.29 Acres, and is currently available for $159,900.

For complete details click here.