It’s no secret that buying a home can come with it’s fair amount of stress, but there are some common mistakes First Home Buyers make which can cause delays and stress.
There is so much to do when buying a property and typically in a very short time frame that the purchase alone can be all consuming and stressful. This stress is also heightened when you’re a First Home Buyer, because you’ve never been through the process before. The unchartered waters can be stressful to start with, without adding any issues that may arise.
Whilst you cant predict every issue and prepare for them in advance there are certainly a number of things you can do to ensure the most common issues are not part of your Home Buying Journey.
In my coming eBook I will be going through multiple common mistakes and even some unique ones that I’ve encountered in my 13 years working in the finance industry but for today, I wanted to share with you the top three.
1. No approval in place
Before you start house hunting, looking at Realestate.com or checking out open homes over the weekend you need to make sure you’ve meet with your Broker and submitted a ‘fully assessed’ preapproval. I’ve talked about the difference between an approval and a fully assessed preapproval in this Blog, but basically, unless it’s fully assessed it doesn’t mean too much.
2. Buying with your Heart
I know it’s easier said than done, and everyone around you is saying the same thing but it really is important. If you’re able to buy with your head, you will be able to let a property go if it’s not right for you and move onto the property that is. I recently had a client who put an offer on a home which was everything she wanted. After the building and pest inspection showed some issues the contract got cancelled. She was devastated, until she found the next property which in her words ‘is better than the last’ and it just recently settled
3. Not getting organised
There are so many things to be over when you’re thinking about buying your First home and the more organised you can get to prepare the better the process will go. Things like, researching your conveyancer and building and pest inspector prior to house hunting, getting all your paperwork together for the loan application prior to meeting with your Broker, even writing a list of questions you might have and getting them answered will all help to speed up the process.
“Remember the only bad question is a question that isn’t asked”
If you want to grab a copy of the eBook when it comes out make sure to follow me on Facebook or Instagram to check out when it’s available.
if you have any more questions about buying your first home or would like more information, make sure you sign up to The First Home Buyer’s Program, due to launch the end of November.