First Time Home Buyer MISTAKES | 9 Mistakes First-Time Home Buyers Make | First Time Home Buyer Tips

First Time Home Buyer MISTAKES | 9 Mistakes First-Time Home Buyers Make | First Time Home Buyer Tips.

Real estate agent and Realtor Matt Leighton goes through 9 mistakes that first time home buyers are making when it comes to purchasing a house.

Looking for a real estate agent in your city? I have a network of top producing agents around the country. Email me and I can put you in contact with an agent in your area
--
Find Matt here:

9 First Time Home Buyer Mistakes | Tips for First Time Home Buyers

0:57 - 1. Seeing houses before getting financial qualification
2:44 - 2. Looking for a unicorn
3:45 - 3. Using the listing agent to represent you
5:15 - 4. Looking too much into the home's online value estimation
7:05 - 5. Expecting your house to increase in value
9:15 - 6. Underestimating your expenses
10:07 - 7. Feeling rushed
11:25 - 8. Falling in love with houses on the open market
12:52 - 9. Fallacy that renting is throwing money away

MY EQUIPMENT LINKS TO AMAZON

Business inquires

Matt Leighton - Arlington VA Real Estate Agent
Matt [at] Orange Line Condo dot com
Century 21 Redwood Realty
1934 Wilson Blvd
Arlington, VA 22201

[jhnnyknxvlle]

i'm also getting tired of realtors not putting pictures of the inside of the garage! GUYS WANT TO SEE THE INSIDE OF THE GARAGE!

[cnk]

The lender tells you what you can borrow, not what you can afford.

[momofmomof]

When you start the whole process, not only do you need to be pre-approved, but you should also be able to buy a home on one income, We didn't buy until we knew this was possible, and its a good thing we did. 8 years after we bought our home, my husband suddenly passed away, leaving me to raise our children and take care of everything. Because we have always been smart with our finances, our children and I are doing well. Now we are selling, and moving to another state, after 16 years total of living in this home. I've been on both sides of it, buying and selling. 20% down is important, as is having an emergency fund in place. Owning will cost you more than you think.

[mrguaranteed]

But I thought it only took 30 min to fix up a home like hgtv Lol

[gizmo]

My 1 criteria into buying a home: not being haunted

[bree]

Thank you for mentioning that renting is not always throwing away money. I have rented for years because I wanted to pay off student loans. While my entire family told me renting was the worst thing I could do. My gut instincts told me, I wasn’t ready for a house. Now that I have paid off my loans and still have minimal credit debt to keep my credit up, I feel a bit more comfortable about looking into buying a house.

[diariesofanintrovert]

I’m actually very impressed with myself, I was basically already thinking everything you said in this video. Now I feel more confident that I’m on the right track!

[Raymondjohn]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[Muzzi.]

I agree about not falling in love with the house. View it as a business deal because that’s what it is. Business is business and personal is personal. Your emotional feeling about a property is personal. Leave it out of the deal

[MAGAMAN]

My checklist.

I will not get murdered in that neighborhood.
Roof doesn't leak.
Wall (exist)
Backyard with a fence around it.
2 car garage.
Usable kitchen.
Everything else can be fixed/upgraded.

[father]

I'm so blessed to have the VA loan. I'm in the process of a new construction home. Even got the MCC program. 0 closing cost, 0 down, 3.9% interest.

[stonemaster]

Investors will take away your dream home 90% of the time

[kissyk]

They say "winter is coming, " but after you buy a house, "repairs are coming" 😂😂 That is a good one! 😂

[notafanboy]

I really wanted to finish watching this video but all the shouting made me stop. This felt like a Billy Mays TV infomercial. My god.

[HammadKhanYT]

1. Get pre-approved first before looking, know your worth first.

2. House should meet 75% of your criteria, perfect house does not exist. Do slow upgrade with time

3. Listing agent to represent YOU is not a great idea

4. Don't look too much into home ONLINE value (you can never accurately estimate a house without stepping inside it, people might have updated it)

5. Don't expect your house to increase in value (it might or may fall in value depending on the market). House increases your quality of living not anything else.

6. Do not underestimate your expenses (there will be maintenance costs and hidden costs)

7. Don't feel rushed to buy (Don’t put an offer before you are mentally prepared)

8. Don't fall in love with the house (act rationally). Houses will be sold and new ones will come to the market.

9. Don't assume renting is throwing money away. Renting is preferred if you will be leaving there only for a few years.

[stevenswall]

The high strung salesman tone seems to make things more stressful rather than less stressful.

[lepermessiah]

+1.5 speed has entered the chat room. So much better.

[mndyD]

First time owner(still looking) and this is a great video! Also want to add that be sure to check HOA Policies BEFORE making an offer or escrow. We dodged a HUGE bullet of a condo with an awful HOA that fines for the most ridiculous things. Not all real estate agents disclose this before or if you don’t ask.

[JustenHarden]

Thank you for this video, brother! Much appreciated.

[jonathan]

Great video.... but, can you further clarify rule #9?
When you say, "the fallacy that renting, is throwing money away..." and "... that they're buying a home when they should be renting..."

Because regardless if someone is moving every two years or not, renting is never an investment...