Mistakes First-Time Homebuyers Make, According To A Real Estate Expert - Exclusive

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Mistakes First-Time Homebuyers Make, According To A Real Estate Expert – Exclusive

With the number of housing units in construction skyrocketing across the country to meet demands, it’s safe to say that there will be plenty of new first-time homebuyers in 2022 and beyond. However, while purchasing your first property can be an exhilarating and rewarding experience for many, there are few things quite as bad as feeling buyer’s remorse after signing a 30-year mortgage. As such, if you’re a first-time homebuyer, you owe it to yourself to learn from the mistakes of those who came before you so that your experience will go as smoothly as possible.

“First-time homebuyers should be planning their situation at least a year ahead of time. This means checking your credit report, talking to a lender about what is needed on your end, and even checking out neighborhoods that interest you,” Josh Steppling explained. “When the time comes to buy your first home, you will save yourself a ton of stress and money knowing that your finances are in line and you have a good idea of what kind of home you’re looking for.”

It’s amazing how quickly hidden expenses can start popping up after you’ve purchased your first property. So if you’re expecting to save a lot of money compared to your life as a renter, you might find out that you’re sorely mistaken at the end of the month. “Many first-time homebuyers don’t set [themselves] up for proper expectations when it comes to owning a home,” Josh Steppling revealed. “The first expectations you should set for yourself are the costs of home ownership, meaning everything outside your mortgage.”