At Hunters, we know how exciting it is to buy your first home. However, it’s easy to make costly mistakes without proper guidance. Here are the common pitfalls we have seen over the years with first-time buyers -
- Skipping Mortgage Approval
Shopping without mortgage approval can lead to disappointment. Knowing your budget helps narrow your search and shows sellers you're serious. Sellers often prioritize approved buyers. Without approval, you risk delays, missed opportunities, or even losing a deposit.
- Underestimating Total Costs
It's not just the down payment. Legal fees, stamp duty, survey costs, valuation fees, and potential renovation expenses add up. Be sure to budget for everything.
- Not Researching Neighbourhoods
Location matters. Consider commute times, schools, amenities, and future development plans before making an offer. Hunters staff live in the community in which they work. They know the answers to all the location questions.
- Prioritizing Aesthetics Over Structure
Cosmetic features can be changed—major issues like foundation cracks or plumbing problems are harder and more expensive to fix. Study your survey and act on it.
- Draining Your Savings
Don’t spend your complete budget on the down payment. Keep a reserve for emergencies or repairs after moving in.
- Not Working With a Trusted Agent
A Hunters estate agent provides expert guidance, negotiates on your behalf, helps navigate paperwork, and offers valuable local market insights—making the complex process of buying your first home smoother and less stressful.
Avoiding these mistakes can turn your first home purchase into a smart and rewarding experience instead of a financial headache. Take your time, ask questions, and lean on Hunters professionals for support.
