Mistake # 12: The Emotional Buyer – Keep your emotions under control.

 A lot of homebuyers fall prey to this one – Here are five emotional mistakes first-time home buyers often make:

1. Love Hurts

Falling in love with a home. As discussed in mistake #1, the buyer has to reconcile dreams with realities. It’s often difficult to look at the pros and cons of a home rationally if you let yourself become too emotional about a particular property. Beware of real estate agents trying to play on your emotions to encourage you to say yes. Never buy the first home you see without exploring a few more options.

 2. Keep Control

Losing control of the situation is frustrating and can lead to imprudent decisions. Don’t let yourself be swayed or sidetracked by an assertive agent or by undue advice from family or friends (they don’t have to live there, you do!). Personality clashes with agents, mortgage broker or people your trying to work with can also be upsetting.

3. Decisions, Decisions

Not being able to make a decision. If you can’t decide about anything from budgets to what kind of house you want, maybe you aren’t ready to commit to home ownership. If you’re simply worried that something better will come along after you’ve made your offer, remember that there’s more than one home out there with your name on it. Take the time you need to make a sound decision, but don’t be afraid to commit to a new home purchase.

 4. What are you getting into?

Not realizing the responsibilities of home ownership. It’s great to own your own home, but it takes time and commitment to maintain this large investment. Make sure you are prepared.

5. Is it the right time?

Buying before you are ready. If you are suffering cold feet over becoming a homeowner, sit down and take stock of the situation. Examine your motives for thinking you should take this giant step. Look at what it will mean to your lifestyle and budget. Talk it over with your financial advisor, your real estate agent and your mortgage professional. Remember that there are two million first-time buyers a year and most of them felt the same trepidation as you. However, most of them are happily taking on their exciting new challenge.

That’s all for now. Stay tuned for mistake #13!

If you just can’t wait and you’d like to get the entire report revealing all 15 buyer mistakes, all in one shot, please visit my website.