Four First-Time Home Buyer Mistakes to Avoid – North star Homes
There is a high level of uncertainty when you are buying a home for the first time. There are several steps to be followed while buying a house. Most first time home buyers are unaware of these when buying their first home. This is precisely the reason why first time home buyers end up making some bad mistakes. These are mistakes that cause hours of frustration, lakhs of rupees & heartbreak, which is even worse. It is important that you fully understand the most common first time home buyer mistakes before buying your first home. It will greatly improve chances of making your home purchase a success. 
Not Getting Pre-Approved for Mortgage – There is a difference between mortgage pre-approval & mortgage pre-qualification. Mortgage preapproval is a deep look at your financials by the bank in order you evaluate your eligibility for getting a mortgage. This will typically require you to provide important financial documents like recent pay stubs, tax returns &
bank statements. Mortgage pre-qualification is generally a look at your financials by the bank in order to evaluate your likelihood of getting a mortgage. The difference between pre-approved & pre-qualification is that pre-qualification is based upon information provided by you which may be incorrect & may ultimately lead to mortgage being denied. This is the reason as to why one of the first home buyer mistakes is not getting preapproved.
Forgetting Additional Expenses of Owning a Home – It is important to understand how much your home costs while buying your first home. Along with this you should also factor in the expenses which come with owning a home. Failing to factor additional expenses of owning a home is another common first time home buyer mistakes. Expenses like homeowners insurance, refuse, monthly utilities & general maintenance costs should also be kept in mind. Taking a home at the top of your budget & failing to factor in these additional expenses can cause some serious financial stress. It is therefore sensible to create an estimate which can help you budget & ensure that you do not buy a very expensive home.
Putting Much Weight on Online Home Value Estimates – Many home buyers usually struggle while determining how much to offer for a home after they fall in love with a property. Believing home values you see online is a surefire way to embarrass yourself. Using online home valuation estimates as a guideline as to how much you should offer for a home is one of the worst mistake online home buyers make. Giving too much importance to online home value estimates can be exorbitant while buying your first home.
Skipping Home Inspection – In fact, home inspection is one of the foremost steps you should be taking while buying your first home. Skipping inspection is one of the first time home buyer mistakes. There are many reasons as to why you should inspect the property you are willing to buy. Firstly, inspection is one of the best ways to protect from buying a home which can turn out to be a money pit. Home inspection can uncover the quality of construction or any other significant structural issues. With inspection you can avoid the possibility of spending & wasting large sums of money correcting deficiencies.
Buying Your First Home Is Exciting Yes! But it is important that you do not let your excitement result into a disaster by making these common first time home buyer mistakes. Don’t feel embarrassed to consult a profession real estate agent if you have any questions in mind about the home you intend to buy. It would be worse committing first time home buyer mistakes & then being unable to buy your first home. Keep in mind that no question is a dumb question when you are buying your first home. North star Homes Hillside is Your Dream Villa at Gandipet If you are looking for luxury villas near Gandipet, Northstar Homes Hillside is your best bet. It is a perfect place to unwind after a busy day! Hillside features 37 handcrafted luxury villas that are nestled close to the lush green central park. Enjoy the cobblestone walkways, car-free streets & the lavishly built clubhouse built around the Hillside luxury villas in Gandipet. North star Homes Hillside is one of the best places to live in Hyderabad!