Are you a first-time buyer looking to get on the property ladder? It can be a stressful time, but you’re in the right place if you want to find out how to avoid some of the biggest mistakes in the business. Did you know that up to 63% of millennials have regrets after buying their home? Whether you’re in that category or not, it’s something you’ll want to avoid.

In this article, we’re going to look at a few mistakes many first-time buyers make, so you’ll know how to avoid them. Some of these might seem like common sense, but you’d be surprised how many new home-buyers get confused and lost during the process. 

So what are the worst first-time buyer mistakes that you need to learn to avoid?

Rushing Your Decision

This is a big no-no when buying a house, especially for the first time. Don’t listen to your estate agent when they tell you five other people are interested in the home. While you shouldn’t act unnecessarily slowly, you need to make the right decision for yourself, if this takes a few days of thinking, so be it.

You can actually get some good deals by throwing in a quick offer, but this should only be done if you’re absolutely certain.

Paying Too Much

This ties in with the previous point, but don’t be pressured into putting in an offer you either can’t afford or aren’t happy with. In a competitive and fast-moving housing market, some first-time buyers make the mistake of paying over the odds because they fell in love with a house.

Try and be pragmatic and sensible about your decisions rather than letting emotions get in the way of things. Don’t pay over the odds.

Not Arranging Your Mortgage Beforehand

Some people like to get an offer accepted before they sort out their mortgage. This is a mistake, and could lead to a lot of wasted time and frustration. Especially if you don’t get the mortgage after all.

Try applying for an in-principle mortgage so you know how much money you’ve got to play with and have most of the application already sorted to save time after you’ve found the home for you. You can get some more help from sites like moneyexpert.com for this.  Speed up your research by comparing different deals in the market in one place. 

Not Getting Surveys Done

This one probably seems super-straightforward, but far too many people these days make the mistake of simply not getting an independent survey done before they buy a house. You should always get a survey so you can check the building and land for any issues. Not doing so could lead to lots of repairs and the unwanted costs associated with them.

Buying In The Wrong Area

If you’re moving to a new location, you’ll want to research it properly. Make sure you’ve checked things like schools, amenities, transport options and crime rates thoroughly. These are all important things that make a house a great place to live, rather than the actual house itself. Don’t get stuck thinking about the actual property without making sure the area it’s in is right for you as well.

Not Considering Additional Costs

When buying a home, don’t make the mistake of only looking at the list or accepted price of the house itself. The whole thing is actually going to cost a fair bit more when you factor in estate agent fees, legal costs, surveying, and removals. And that’s not including all the new stuff you might feel like buying (or need to buy) for your new home.

Have you made any big mistakes when buying a home? Let us know what you did below & help others avoid making the same one!