mistakes to avoid buying first home

Mistakes to avoid
First home buyers can make some very big, and expensive, mistakes. Watch out!
One of the biggest and most expensive mistakes that people make is buying a home in a hurry. The decision involves several issues legal, financial and emotional and it's not just your own opinions that you have to consider but those of your loved ones as well. A decision like this is a long-term one and will impact your lifestyle for decades to come, so do take your time, ask the right questions and check out all the possible options before signing on the dotted line. Here are some of the most common, and most expensive, mistakes that first home buyers make RUNNING BEFORE WALKING.
This is easy to do once the decision to buy a home has been made. It means rushing off looking at homes, surfing the web or calling on advertisements before doing some up-front preparation. Not spending time doing this preparation, though, can be a disaster. Once you have signed the contract, changing your mind can become very difficult, so be absolutely sure before you sign up.
BUYING A BIGGER SPACE THAN YOU CAN NEED, OR AFFORD:
What are you going to do with a home that is much too big and has cost you so much that you have no money left over for furniture? Don't push yourself beyond your limits while buying a home there can be nothing more stressful for both of you, and for your family. Work out the budgets carefully and identify your exact needs.
GOING WITH THE WRONG AGENT:
Real estate agents can be a huge help, but then, again, they can be quite disastrous. If you have chosen the wrong agent, you might well find that he is not representing you so much, as he is representing the seller, without your knowledge. So get to know this person before you trust him/ her with the biggest decision of your life.
CHOOSING THE WRONG HOUSING LOAN:
These days, with so much competition in the market, the banks are going all out to woo you, and while their offers might seem tempting, there could be hidden costs that can take you unawares. Don't simply accept the first plan presented to you, whether it is from a mortgage broker, an agent or on the recommendation of a friend or relative. Spend time comparing them, and working out your own needs and ability to pay.
WAITING FOR THE "PERFECT" HOME.
Let's face it, prices aren't going down in a hurry, so the longer you delay, the greater are the chances that the price will go up. So while it is important that you take your time finding the right space, you must also be aware that there may be diamonds in the rough out there, houses that do not seem perfect the first time you look at them, but which will serve your needs perfectly well with a little touching up. If you think a home meets 90 per cent of your needs, the chances are it is a good buy, so don't discount it immediately as you search for that 'perfect' home.