Buying a home is part of the American dream – and for millions of Americans, that dream becomes a reality every year. Unfortunately, for every dream that comes true there are those that silently fade out. Home buyers, especially those buying their first house, can make a lot of mistakes in the process if they aren’t careful or don’t have a good resource (such as a knowledgeable friend) to go to for advice.
We all would like to think the realtor is going to steer us straight, or that our mortgage company would warn us if something doesn’t seems right – but he fact of the matter is they are both there to make money off you and so they usually don’t have a vested interest in steering you clear of anything. With that said, let’s take a look at four of the most common mistakes home buyers make.
First, they buy a home they simply cannot afford or do not need. Have you heard the term McMansions being used? It refers to all the huge houses that seem to pop up everywhere nowadays. Just how many square feet does a family need? All too often new homeowners, and even seasoned veterans, can fall into the trap of buying way...
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