Purchase a Home Qualifier  Refinance a Home Qualifier

For the Real Estate Professional

This site is dedicated to informing the Real Estate Professional. I Blog each Friday, to keep you informed of upcoming changes, statistics, rates and lending news.  There is also links to program brochures on the right, as well as charts and news to keep informed.

Top 10 mistakes a First Time Home Buyer will make

Buying a home in Idaho can be a daunting process, but it's also an exciting time. As a first-time homebuyer, it's easy to get caught up in the rush and make some hilarious mistakes. So, let's take a lighthearted look at the top 10 mistakes first-time homebuyers often make, and how to avoid them (or just laugh them off).

  1. Not Getting Pre-Approved for a Mortgage Skipping pre-approval is like going to a buffet and not grabbing a plate first. You need to know how much you can afford before you start drooling over every house on the market.  1st Choice Mortgage can get you pre-approved in as little as 2 hours,  which is super important in a agressive market.
  2. Falling in Love with the First House You See: We get it, that first house can give you all the feels, but don't let your heart lead your wallet. You don't want to end up like a bad episode of House Hunters, where the couple ends up fighting over a house that doesn't even have a bathroom.
  3. Not Hiring a Home Inspector: Skipping the home inspection is like playing Russian roulette. You might luck out and get a perfect house, or you might end up with a money pit that would make Tom Hanks jealous.
  4. Not Factoring in Additional Expenses: Ignoring the extra expenses is like thinking that the price of a Happy Meal includes the toy. You need to account for property taxes, homeowner's insurance, and all the other hidden costs that come with owning a home.  Don't froget about HOA Fees and Dues, and is there going to be Irrigation Tax?  Ask your REALTOR!  If you need an super experience REALTOR, we can help, we works with some of the best in Idaho.
  5. Ignoring the Neighborhood: Failing to research the neighborhood is like marrying someone without meeting their family first. You need to know what you're getting into before you commit.
  6. Not Having a Contingency: Plan Not having a contingency plan is like going on a road trip without a spare tire. You never know when you'll hit a bump in the road, so make sure you're prepared.
  7. Making a Small Down Payment: A small down payment is like ordering a salad at a steakhouse. Sure, it might save you some money, but you're not getting the full experience.  Also, not looking for Down Payment assistance programs that you might be available for, here are some:
  8. Not Shopping Around for a Mortgage: Not shopping around for a mortgage is like going to the DMV in Nampa and not bringing a book. You're going to be there for a while, so you might as well make the most of it.  With 1st Choice Mortgage, we do the shopping for you!  We have multiple lenders, which we access through their portal, and find the best loan for our clients.  So you don't even have to go to the DMV with a book, we ARE the DMV.
  9. Skipping the Homeowner's Association (HOA) Rules and Regulations: Skipping the HOA rules is like wearing white after Labor Day. It might seem like a small mistake, but it could end up costing you big time. Read the HOA, understand them and if you have questions, ask your REALTOR about them.  You might find out  that you can't just paint your home Boise State Blue and Orange, and instead are required to paing Idaho Gold and Black.
  10. Overextending Yourself Financially: Overextending yourself financially is like trying to fit into your high school jeans. Sure, you might be able to squeeze into them, but it's not going to be comfortable.  Eating Spam and Top Romen every night because you can't afford more gets old and boring after a while.

By avoiding these comical mistakes, you'll be well on your way to owning your dream home. Remember, homebuying should be fun, so don't forget to laugh at yourself when things don't go as planned. Happy house hunting!

Posted by 375loan at 4/6/2023 10:15:00 PM


Answer a few SIMPLE Questions and experience why we are always the 1st Choice in Idaho!

Purchase a Home Qualifier Refinance a Home Qualifier


1st Choice Mortgage Company, LLC BBB Business Review, boise, nampa, caldwell, kuna, eagle