The number one mistake to avoid is to not rush into buying your home. Sounds simple enough because it a huge purchase and decision. I've seen it over and over where a buyer rushes the whole process of buying a home to only regret it down the road. They will hit every mistake that I am about to mention below. Do not rush the process!

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Vet different Mortgage Lenders

The first lender you are introduced could be the one you end up using, but make sure you talk to a couple different ones to make sure you are getting the service and communication that you expect, a clear set of expectations that work for you, and a combination of terms that you find acceptable.

If you are a first time buyer, ask about different first time buyer programs.

Here are 7 programs that could help

https://www.nerdwallet.com/article/mortgages/programs-help-first-time-homebuyers

Having a small down payment

This one goes along with rushing into buying a home. Yes there are a loans that require 3.5% down payment and those programs might be good for some. Just like buying a car, if you have a small down payment you will end up making larger monthly payments. Now factor in all the other different monthly payments you will have to pay monthly and it stacks up real fast!

1. Monthly Mortgage Payment

2. Utilities

   1. Electricity/natural gas

   2. Water/sewer

   3. Cable/Fiber Optic

   4. Trash/Recycle

1. Home Insurance

2. Property Taxes

3. HOA (Home Owners Association)

4. Miscellaneous Maintenance

5. Repairs (Not Recurring but still there)

Not have an Experienced Realtor

Having a Realtor is an important part in buying or selling a home. We will save talking about the importance of having a realtor when selling a home for another time. Buying a home is a huge milestone, especially when it is your first one, so having an experience realtor to help guide you through the process in critical. I'll repeat having an experience realtor is critical. Everyone nowadays seems to know at least 3 realtors or more. Getting your real estate license is not very hard task, go to www.rockwellinstitute.com  sign up for the 90 hour online clock course or go to the in person course, take the final test, and then take the state and national test. Boom you have your real estate license. Does the make you a good realtor? No.

To think about this in a metaphorical way, remember back to just after you got behind the wheel for the first time as you were getting a leaners permit or you were on your first drive by yourself. Going around town at 25 mph or 40 mph on a sunny day was not that bad. No imagine you are that same age again but driving down the freeway at speed with rain splashing all over your windshield in the dark. It was a totally different experience. Flashing forward and now you have had the experience of driving in both of these situations and about a thousand more. Experience instill confidence and brings a breadth of knowledge that is learned over time.

I am not saying that you should not go with the realtor who just got their license or who does it part time. They might have what I had when I first started which is an amazing team behind them that will help with every step along the way to make it a smooth and easy transaction.  The part time realtor might have been realtor for a while that only does it part time now or is someone who has other expertise that would make them a valuable resource. 

What I am suggesting that you consider as you decide on who to work with is to remember the whole package of abilities an perspective Realtor brings to the table and how they best fit you and the goal you want to achieve.  

Forgoing Inspection

Unless you are an investor that flips homes and knows what to look for in the home when you are buying it. Do not forgo the inspection, even in a crazy market.  A home may seem to be perfect on the outside when you are walking through it, but is it as clean as it looks?  A car when you are buying it might seem to look clean and runs well, so how would you know that the car was in a bad accident only a couple months prior. With a house, it might be clean and staged when you tour it, so how would you know that the foundation is cracked or the roof leaks?

We will be covering what to look for in a home inspection in a later article.

To sum up everything, make sure you take your time. If you rush, you may end in a home you don't love or give up thousands of dollars for a bad purchase. Go with a realtor you trust that will get the job done in a professional matter. It is ok to have a small down payment, it not always a bad thing and there are plenty of programs to help with low to no down payments. Just know what it means down the road if you do have a small down payment. Unless you know what you are doing, always get an inspection!

Let me know if you have any questions!