Top Seven Mistakes First-Time Home Buyers Make by Kwame Kuadey

First-time home buyers get excited when they are looking for their first home. For one, they will be moving from the confines of an apartment. Also, buying a home provides them an advantage on their taxes.

However, there are those first-time home buyers that create problems for themselves because they don't educate themselves on what they need to do when they are buying their first home.

Here are seven top mistakes that first-time home buyers make:

1. Failing to find a reputable agent - Your real estate agent should be one that knows the real estate climate very well. They are responsible for taking care of the first-time home buyer. Ask around for recommendations. Get more than one candidate and ask them questions regarding selling homes to first-time home buyers.

2. Not counting the costs with the upkeep of a home - Some first-time home buyers fall in love with the home that they don't think about the upkeep costs. Eventually, they will have to account in costs for home repairs, utilities, lawn care, emergencies, etc. Those expenses add up. This is one mistake that first-time home buyers make that can prove to be costly if they are not careful. 3. Being unable to afford the home - Another mistake that some first-time home buyers make is not calculating whether or not they can afford the home. Some of them don't look at the big picture when getting a mortgage. They get the loans without reading the fine print. Also, they should sit down with the lender and ask questions before signing on the dotted line. Going in this blindly can cost them financially in the long run. 4. Not including property taxes - First-time buyers are required to pay property taxes on the home every year. For whatever reason, some don't think about this until the time comes around. When they are not prepared to pay the money, they risk losing their home. They should consult the tax assessor's office in their area to get assistance on what they need to do.

5. Failure to conduct an inspection of the home - Whether the home is old or new, it's important for first-time home buyers to have an inspection. You may find out things that the seller or home builder may not tell you. By doing an inspection, you can find out if the walls are sturdy and solid; make sure that all of the electrical outlets are working along with other items in the home. The mistake that first-time home buyers make with this is hiring an inspector that their real estate agent knows. They should hire someone that is not associated with the agent.

6. Being anxious or impatient for their first home - When first-time home buyers are looking for their first home, some can tend to get impatient. They want to rush the whole process when buying a home without counting the costs and knowing about the entire financial picture. 7. Knowing that you will get the first offer on the table - It is not etched in stone that whatever offer the first-time home buyer makes will be accepted. More first-time home buyers are looking for affordable homes and can make counter offers on the same home that you want. First time home buyers should not put their eggs in one basket.