hiH everyone. This is your Tampa Bay Realtor
Lance Mohr and in this
video I want to go over three comment
first time home buyer mistakes
So as many of you know I've been in the
business for over 20 years and I've
literally helped thousands of first-time
homebuyers I like helping first-time
homebuyers because it's such a such a
scary process for a lot of people in
it's nice to really guide people and
make them feel at ease but there are
three mistakes that seem to come up over
and over and over again with first-time
homebuyers not just first-time
homebuyers but for a lot of homebuyers
so I don't want you to make these three
mistakes mistake number one is not
getting pre-qualified before you start
the home buying process so it's sort of
like going to the grocery store without
knowing how much money you have to spend
and you won't do that would you well of
course you would and you don't want to
go looking for a home in other words
whether you're just looking on the line
or whether you're getting together with
a real estate agent and you're looking
around you want to get pre-qualified you
want to have an idea of what you could
afford but there's a lot of other
benefits to this you want to know what
you could afford but you want to know
what loan program you're going to be in
so you have what you can afford the loan
program what about your down payment how
much closing costs are you going to need
do you have enough closing costs do you
have to stay for closing costs do you
need help with closing costs so there's
a lot of different things that go into
this but you need to talk to a lender
before you start the whole process the
second thing is not getting approved for
the maximum dollar amount no I don't
mean your comfort level so it's sort of
like a credit card we all have credit
cards so I may have a credit card that
has a ten thousand dollar spending women
on it it doesn't mean I'm going to spend
anything close to ten thousand dollars
on it and it's the same way when you buy
home let's say your comfort level is two
hundred and fifty thousand dollars
that's sort of where you feel
comfortable at but you qualified for
three hundred thousand dollars get
approved on what you qualify for because
a lot of people they get qualified for
the two fifty and then what happened
if you don't like what you see at 250
you're bumping your range up so maybe
you'll get qualified for 250 but what
you find is 275 or 280 you're just gonna
have to get requalified again and you
don't want to do that now you would
think the loan officer would know this
and most of them do but there are a lot
of women officers if you walk in and you
say hey I want to buy a $250,000 home
they'll just say great even though
you're qualified for 3 or 350 they'll
just put the qualification the approval
in at 250 you just want to take it to
the max just look at it as a credit card
you don't have to use all that but it's
there if you need it
the third thing is thinking all real
estate agents are the same you're buying
your first home and it's really
important for first-time homebuyers to
pick a real estate agent that really
knows what they're doing because you're
gonna most likely need a lot of
hand-holding you're going to not know
what questions to ask you want someone
who understands the process who's been
in the business for a while that knows
what they're doing that's gonna teach
you that's gonna educate you because you
can't just wait for the agent to tell
you stuff they may not know you need to
find an agent to know when I mean a lot
of first-time homebuyers well pretty
much every first-time home buyer always
start off when I say is there any
questions you have you know for me
before we begin when I sit down with
them and nine out of ten people will say
no and I say I do understand it's hard
to ask a question when you don't know
what to ask so you need to pick an agent
that knows what they're doing now I'm
going to put a bunch of videos up above
here and it's going to be on how to
choose a loan officer how to choose a
real estate agent and a lot of different
videos for buying a home so it'll sort
you walk you through the process because
I'm not really sure where you're out in
the country if you're obviously in the
Tampa Bay area myself my team we would
love to help you out if you have any
questions at all don't hesitate to
contact me or leave them in the comments
below if you like these this video do me
a favor give me a thumbs
and share the video to help other people
I wish you the best of luck have a
wonderful day
you