Part 5: Common Mistakes of First-Time Home Buyers

Looking for a Home Like Their Parents

It is very important for first-time homebuyers to remember that most people do not buy their dream home right out of the gate. Your parents or other family members and friends likely started out by purchasing a smaller house in the Greater Austin area. As they balanced what they wanted with what they could afford, their finances played a large role in determining what they purchased. As time went on, they paid down their mortgage and gained more equity in their home through appreciation. Only then did they trade up to a larger, nicer home in the Austin area. With that home, they had to worry less about how much the home cost and could focus more on finding what they really wanted.

As a first-time homebuyer, it may be very difficult to lower your expectations a bit. Do not let those expectations keep you from missing out on a great first home and keep you from taking advantage of the still very low interest rates available! When you have built your finances and some equity in your home, you will then have the perfect opportunity to move up to your dream home!

Buying a home for the first time is a very exciting time – do not let unrealistic expectations kill that joy! If you are considering purchasing a home or would like to learn about your options drop me a note. You can also check out my other blog post – What You NEED to Know Before You Buy a Home.

Own a home and thinking about moving up to your dream home? Download the FREE Guide >>> Timing the Market in 2014

by Kyle Pfaffe, REALTOR®      e: KylePfaffe@kw.com      m: 512-636-9707      w: AustinHomes4You.com

    

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