First Time Buyer Mistake #2: Viewing Houses Too High for your Budget
By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
We’re going to review some of the common mistakes that first-time buyers make, and we’re going to show you how they can ruin your opportunity to buy your first home. How to avoid those types of blunders? You'll find out in our HousePro Academy online course, Home Buying 101. MISTAKE #2: MIS-CALCULATING YOUR BUDGET AND HOUSING COSTS Another common mistake that buyers make is mis-calculating their new housing costs in their budget. Excited buyers find out that their loan payment will be a certain amount each month, but sometimes forget to add in other expenses such as taxes, insurance, maintenance, and HOA dues. For example, the buyers may think, “with a mortgage payment of $1,400 per month, I can buy a house worth $300,000” but really, in fact that house price is too high for their ...
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