Canton MA Events and Real Estate


10 First Time Home Buyer Mistakes you want to Avoid!

In the article below, Mike Ockert does an excellent job of thoroughly pointing out the 10 First Time Home Buyer Mistakes You Want to Avoid. This is a must-read for all home buyers.

All home buyers, but especially first time home buyers too often fail to plan ahead.  This article covers all the tips from making sure you have your mortgage preapproval to really thinking about priorities in deciding which home to purchase.  By avoiding Mistake # 9 (Failing to Hire Your Own Agent) and working with a buyers agent from the start, buyers will have the help and guidance of a buyer agent to help them avoid the other mistakes listed! 

If you are looking to buy a home in Canton MA or a surrounding Norfolk County community, let an experienced Exclusive Buyer Agent help guide you through the process.

10 First Time Home Buyer Mistakes you want to Avoid!

It never fails that when were are excited about buying anything we sometimes fail to do enough research to make an educated buying decision. No statement could be more true then with First Time Home Buyer  and buying their first home. As a Colorado Springs Realtor, I have helped many Colorado Springs First Time Home Buyer avoid costly mistakes and helped them completely through the home buying process. Although there are many mistakes that a First Time Home Buyer can make, here the 10 most common mistakes you want to avoid:

First Time Home Buyer Mistake #1- not knowing what you can afford. There is a difference between what you think you can afford and what a bank says you can afford and what they will lend you. If you do not already have a budget, make one.!Write down all your expense, gas, food, electric, car insurance, fuel, repair cost, utilities, cell phone, car payment, gym payment, health Insurance, credit cards, etc., Subtract this total from your take home pay and then you will know how much you spend on your new home.

First Time Home Buyer Mistake #2- What you think you can afford and what a bank will lend you are too different things!  Skipping Mortgage Qualifications is NEVER a good idea....Too many times homebuyers want to go and preview homes, without having even spoken to a lender.  Before you ever preview your first home, always contact a lender first and get a the least - or even better pre-approved for a loan. Beware that even if you get pre-qualified or approved for a loan that you can fall out of approval if you do something that may alter your credit score, like finance a car or furniture. If you cause a deal to fall through, you may have to forfeit the money you put down when you went under contract.

First Time Home Buyer Mistake #3- Failing to consider additional expenses. Home ownership is not like rent and comes with added repair and upkeep expenses. Expenses like taxes and insurance against disasters and making wear and tear repairs to the home can be expensive.  Maintaining a home can be made easier with a Home Warranty Placed on the home by you Agent or Seller that could help you reduce the expense of costly repairs. First Time Home Buyer

First Time Home Buyer Mistake #4- Being too picky! Put as much as you want on your wish list for a new home but don't be so inflexible that you end up continuing to rent for an extended period of time. First Time Home Buyers often have to compromise of something because their funds are limited.You may have to live on a busy street, accepted outdated decor, make some repairs or forgo the extra bedroom.

First Time Home Buyer Mistake #5- Lacking Vision!- Even if you can not afford replacing the hideous wallpaper in the living room, it might be worth it to live with the ugliness for a while in exchange for getting into a house you can afford, in a great location. 

First Time Home Buyer Mistake #6- Being swept away! Minor upgrades and cosmetic fixes are inexpensive that play on your emotions and elicit a much higher price. Many times a home will come with a hot tub, flat screen TV or exercise equipment and it will have a new home buyer take their eye off what was important in their wants and needs of a new home. Additionally, First Time Home Buyers should always look for a home they can add value to, as this ensures a bump in equity.

First Time Home Buyer Mistake #7-Compromising on the important things! Don't get a two bedroom room home when you know that in three months you are going to need a third bedroom. By the same token,  don't buy a condo just because it was cheaper when one of the reasons you're SO OVER apartment life is because you hate sharing a wall with your neighbor.

First Time Home Buyer Mistake #8 -Neglecting to Inspect! Too many times a First Time Home Buyerwill not want to have a home inspected because of the cost and fear of loosing that money if the Inspection goes bad. Without getting the home inspected could get you stuck in a money pit that you might not ever climb out of. There is nothing worse than having costly unexpected repairs. Keep your feelings in check until you have a full pictures of the house's physical condition and the soundness of your potential investment.

First Time Home Buyer Mistake #9- Not hiring your own agent or using the sellers Agent. This is a big no no! Once you are serious about buying a home, don't just walk in to an Open House with having already hired your own agent to represent you or at least have a name to through out. Although real estate agents are held the the ethical rule that they must act in the buyers and sellers best interest, you may discover to your detriment that this may not work out in your favor should you start dealing with the sellers agent. The seller pays for the buyer to hire their own representation to help with the negotiation and purchase of a home. Your BUYER AGENT SHOULD COST YOU NOTHING!

First Time home Buyer Mistake #10- Mot thinking about the future!  It is impossible to predict what the neighborhood you want to buy in will look like in years to come but paying attention to the information you have now can help avoid unpleasant surprises down the road. You may want to know things like what kind of development plans for the neighborhood are in the future. Is the street likely to become a major street or popular rush hour short cut. Drive through the neighborhood at different times of the day and ride through the neighborhood at night with the windows down. Is there loud music playing or are there parties going on. Don't just pick the first nice home that you come across that fits you immediate needs, do your research.

If your are in the market to buy a home and need a Colorado Springs Realtor and Relocation Specialist and wish to avoid costly mistakes, visit First Time Home Buyer and get signed up to find your first home




Mike Ockert

Military Relocation Specialist &

Colorado Springs Realtor


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The content provided on this blog is presented or compiled for your convenience and is provided for informational purposes only. The information provided on this website should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. 


Christine Smith is an Attorney and Exclusive Buyer Agent with over 25 years of experience in the real estate field. 


(c) Copyright 2010-2015 Christine M. Smith, Attorney and Buyer Agent. All rights reserved.

Comment balloon 5 commentsChristine Smith • December 28 2010 09:03PM


Christine things change so fast in this business, many of the 1st time homebuyer tips can and do sometimes come in handy for the repeat buyer as well.

Posted by Charita Cadenhead, Serving Jefferson and Shelby Counties (Alabama) (Keller Williams Realty) about 8 years ago

You are fast tonight Charita!  And you are absolutely correct, these tips are also helpful for repeat buyers.

Posted by Christine Smith, Exclusive Buyer Agent & Attorney, Canton, MA (Buyers Brokers Only LLC - about 8 years ago

I've learned many things over the years, buying and selling about 6 properties in my later adult life.  I think your list is very accurate.  Before a customer who becomes a client I advise them to think about a lender they would like to use and see how much they can afford.  Once they have this information and are comfortable with the lending process we sit down and talk about a payment they will be comfortable making month in and month out.  This is generally lower than they can afford.  Also, I always encourage a home inspection.  I try to leave my 20 year construction hat off and let the inspector do his/her job.  If a home is found to have too many problems my buyers will say, next.  As I explain to them, it's better to spend $300+ than be stuck with all kinds of repairs they were not expecting.  Lots of thought went into your blog , thanks for bringing all these items to our attention. :) Gail

Posted by Gail C. Harris, Reach the BEACH with Gail C. Harris (cell: 703.868 (Resource Network, LLC SFR, AHWD, ACRE, SMAR Board Director) about 8 years ago are absolutely right about the payments being lower than they can afford; that builds in some room for unexpected expenses.

Valerie....very true & frustrating.  If they would pick a buyer agent to start with, many of the others can be avoided.

Posted by Christine Smith, Exclusive Buyer Agent & Attorney, Canton, MA (Buyers Brokers Only LLC - about 8 years ago

Great re-blog and great list. 

Posted by Cory Fitzsimmmons, Realtor - Denver, CO ReThink real estate group (ReThink Real Estate Group) about 8 years ago

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