Buying Maine Real Estate
First Time Home Buyers
How to Buy Your First Home....the Easy Way! Avoid the 10 Most
Common, Painful, 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 finding the right place, securing the
loan and finally moving in.
For most of us, the first time 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 completely 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.
Inspect, Inspect and Inspect -
Go over the inspection report with a fine tooth 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!
Imagine the Property Vacant -
Your furnishings and decorations will be the ones filling this new
residence. Don't be swayed by beautiful furniture; it leaves with the
owner.
Income + Lifestyle = Mortgage Payment -
Sit down with your professional real estate agent and honestly discuss
your income level and living expenses. Take into account future
considerations, children, add-ons, amenities, and fix-ups. Your dream
home is certainly worth a sacrifice but don't mortgage your entire
future.
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.
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.
Do The Math - Check out all
costs and expenses before you sign. Utilities, taxes, insurance,
maintenance and home owner 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 conscious.
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.
Plan For Flexibility - Closing
dates are not written in stone. Allow for contingencies and 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.
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 assurances. Even the best intentions can be
misinterpreted. Have your professional keep an ongoing log in writing of
all discussions and get the seller´s written approval on all
agreements.
Loyalty Breeds Loyalty - Be
open, honest and up front with your team. Hard feelings and disloyalty
will cause headaches, delays or may even keep you from getting into the
home you worked so hard to locate. Take the time to select the right
team in the beginning and your first home purchase will be a pleasing
and memorable experience. | | Seriously Local
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