Common Mistakes First-Time Homebuyers Make
First Time Home Buyer HOME INSPECTION Mistakes | 10 Mistakes First Time Home Buyers Make đź”—
0:39 - 1. Asking for Seller Repairs Instead of a Seller Credit
First-time homebuyers often make the mistake of asking sellers to repair issues found during home inspections rather than requesting a seller credit. Relying on sellers for repairs can lead to subpar work done cheaply. A better approach is to ask for a credit to handle repairs yourself, ensuring quality and satisfaction.
2:00 - 2. Not Doing a Home Inspection
Skipping a home inspection, especially for standalone homes or townhouses, is risky. Buyers in competitive markets might consider pre-inspections or void-only inspections to strengthen their offers. Trusting a knowledgeable real estate agent can help navigate these situations.
4:05 - 3. Not Attending the Home Inspection
Being present during the home inspection is crucial. Buyers should actively engage with the inspector to learn about the property, as this opportunity may not arise again.
4:30 - 4. Not Following Around the Home Inspector
It's important to stay close to the inspector during the inspection to ask questions and gain insights. Passive observation won’t provide the valuable information needed about the property’s condition.
5:22 - 5. Getting Too Emotional
Emotions can cloud judgment during negotiations. Homebuyers should focus on significant issues rather than letting minor problems derail the deal, as this can lead to losing out on the property.
7:32 - 6. Not Researching Your Home Inspector
Buyers should thoroughly research their home inspector to avoid conflicts of interest and ensure a competent inspection. The inspector's reputation can greatly impact the homebuying experience.
8:43 - 7. Not Using a Specialist (If Applicable)
For specific concerns, such as roofs or chimneys, hiring a specialist for a thorough examination is advisable. This ensures that all potential issues are identified.
10:02 - 8. Not Doing a Second Walk-Through (If Seller Repairs Were Completed)
After requesting repairs, a second walk-through before closing is essential to verify that all work has been completed to satisfaction and avoid last-minute issues.
11:23 - 9. Choosing the Cheapest Home Inspector
Opting for the cheapest inspector can lead to disastrous outcomes. Investing in a reputable home inspector can save buyers from significant future repair costs.
13:10 - 10. Backing Out of the Contract Three or More Times
If a buyer frequently backs out of contracts after inspections, it may indicate deeper issues with their expectations or readiness to purchase. Self-reflection is encouraged to assess if homebuying is the right path.
What is a better alternative to asking for seller repairs?
Requesting a seller credit at closing allows buyers to manage repairs according to their preferences and standards instead of relying on the seller's potentially low-quality work.
Why is it important to attend the home inspection?
Attending the home inspection allows buyers to engage directly with the inspector, ask questions, and learn about potential issues with the property, ensuring informed decision-making.
What should buyers do if they have specific concerns about a property?
If there are specific concerns, such as the condition of a roof or chimney, it's wise to hire a specialist to ensure thorough evaluation beyond the general home inspection scope.