Inventory is low causing First-time home buyers to face some stiff competition this summer, and while they may feel compelled to make a hasty real estate decision, doing so could lead to financial remorse or home buyer regret. some of the most common mistakes by first-time home buyers, including:
Choosing the most expensive home. Just because you can qualify for a loan to buy that high, doesn’t mean you necessarily should. Some buyers max out how much they spend but then have nothing left over for savings. They get over their head quickly then when they move into home ownership.
Not shopping around enough. This applies to seeing enough homes and shopping for the right mortgage. We are in a crazy market, and many buyers feel rushed.. Buyers likely need to be able to act quickly in some areas but they don’t need to feel pressured to buy the first house they see. They should take time to learn the markets and its values so they can feel more confident about their purchase. They also should take into account all the costs of home ownership, including mortgage, insurance, taxes, maintenance, utilities, and unexpected incidentals.
Being indecisive. On the same note, home buyers can’t be paralyzed to act in the market either if they want a home. Many first-time home buyers “suffer from the fear of missing out,”. “They may find a home that they love, and though their gut tells them it’s the right house for them, they believe that there’s something better. Buyers are making offers and then still want to view other properties. But backing out at that point could become costly.
Working with the seller’s agent. Some buyers get the help of the seller’s agents, but they are there to represent the seller, not the buyer. Often, they don’t realize that the buyer’s agent will be compensated through a commission split from the seller’s side so there’s “no out of pocket expense” to first-time home buyers seeking an agent for themselves.
About Ellen Dell'Alba - Team Leader of the Platinum Group:
Ellen is one of the most diverse realtors among the Keller Williams Realty Agency in Monmouth & Ocean Counties. Being with the company for several years, she continues to make considerable strides in becoming the best realtor she can be. Ellen is a listing specialist, along with having certifications in ABR (Accredited Buyers Representative) and BOLD. Her strategy in helping her clients buy or sell a home is fairly simple: "I do whatever it takes to make my clients 110% satisfied, and that is my personal guarantee!"
Ellen attributes her impressive 80% property sales rate to her relentless drive and work ethic. Working around busy schedules, offering multiple open houses, hosting Broker Lunches, as well as spending a considerable amount of time and money in advertising are just some of the ways Ell en makes sure her client's listings get maximum exposure.
Ellen's view when it comes to home buying is: A home is not a home because of its room dimensions or the color of the walls. It is about how you feel when you walk through the front door, and the way you can instantly envision your life unfolding there.
Ellen resides in Ocean County, NJ with her husband and five children.
"I appreciate the opportunity to earn your business and look forward making your experience buying or selling a pleasant one. Invite me in and let me show you what your home is worth and how I can get you top dollar!" - Ellen Dell'Alba
Real estate market data for Jackson, NJ provided by Ellen Dy
"Ellen was an enormous help when I decided to downsize. I was never left hanging for answers to my questions. Her response time was impressive to say the least. From multiple viewings, negotiation, inspection , through to closing, Ellen displayed the utmost professionalism. I would not hesitate for a second to work with her again and highly recommend her. You will not be disappointed."