August 09, 2021

Are you currently in the market to buy a home? Watch this video first to ensure you don't do these mistakes. San Diego realtor Jon Sanchez goes over the 3 most common mistakes he sees from first time home buyers.

Common First Time Home Buyer Mistakes

Are you looking to buy a home for the first time? Before you do, make sure to avoid these three common mistakes. I'm John Sanchez with the Whissel Realty Group. And I want to make sure you avoid these common pitfalls I see for first-time home buyers.

Not Meeting with a Lender First

The number one or number one and the biggest one I see is starting your home shopping before you are pre-approved. This is huge. This happens a lot, okay? I understand Zillow's really sexy and everyone likes to go home shopping on Zillow. But you are wasting your time if you are not pre-approved. Think of it like a budget, right? If you don't know what you are approved for, you are wasting your time looking at homes that you may not even be approved for. So please, please, please get approved, number one.

Not Accounting for Closing Costs

Number two is not accounting for the closing costs when you purchase a home. Closing costs are the costs associated with the closing of the home that you need to pay before you can close on a home. They run two to 3% of the purchase price. So take this into account. Not only do you need a down payment for a house but you also need to account for closing costs when purchasing a home.

Not All Agents are the Same

Number three is assuming that all real estate agents are the same. They're not. When you meet with a realtor, when you meet with an agent, I encourage you, ask them this question. What is a unique value-add that you give to your buyers? If they cannot give you a good answer, you probably shouldn't work with them. So you need to do your due diligence to make sure that the agent is right for you. And here is another thing, not-so-secret secret.

When you work with an agent as a home buyer, you pay them nothing. So you are better off having a professional by your side to guide you through the process.

I hope this helped. Again, my name is John Sanchez with Whissel Realty. My number is 858-264-0936. Feel free to shoot me a text or give me a call if you have any more questions about buying your home in San Diego.

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