3 Ways Knoxville First-Time Buyers Are Their Own Worst Enemy
First-time buyers always have the best intentions. They’re eager, excited, and motivated to buy their first Knoxville home. These qualities make Knoxville first-time buyers great buyers to work with.
But, there are some times where Knoxville first-time buyers are their own worst enemy. Lack of experience and knowledge about the real estate market can sometimes trip up buyers. In this post, we’ll cover 3 ways Knoxville first-time buyers are their own worst enemy and how you can avoid doing the same.
Not Hiring The Right Professionals
With the help of a few searches on Google, many buyers tend to think that they can buy a home without any help. Oftentimes, this can-do attitude is what makes Knoxville first-time buyers their own worst enemy. This doesn’t go without saying that not all buyers are clueless, but there are professionals out there to make the process easier.
Realtors are a professional that can be a huge asset when you buy a home. They can help take care of setting up showings and alert you when new homes are hitting the market. They help you write a contract that protects you throughout the process. They answer your questions and give you the advice that you need. A realtor is a priceless asset when you buy your first home.
Even if you’re well informed, there is nothing wrong with hiring a realtor. Buyer’s agents are paid by the seller at closing, so a majority of the time their services are free of charge. You can’t refuse free, professional help. A home is a big investment. Don’t do it alone.
Failing To Heed Professional Advice
Another way that Knoxville first-time buyers are their own worst enemies is they often fail to heed professional advice. Not all advice you will get for a real estate transaction will be good, but when you are told good real estate advice, you should listen to it.
There are many times where first-time buyers are given good advice, but they think they know better. A realtor may tell you to get pre-approved or to get a home inspection. But, instead of doing the work to get pre-approved, you skip that step only to find out that you cannot afford a home at all. Or, try to save a few bucks and skip the home inspection, only to find out that the home has major issues.
You should always listen to advice and see what you think. But, don’t always think that you know better.
Lack Of Education
Finally, another way Knoxville first-time buyers can be their own worst enemy is due to lack of education. The real reason why many Knoxville first time buyers fail at buying a house can be whittled down to one reason: lack of education. Sure there are many reasons why first time buyers cannot buy a home, but when you break it down why those buyers cannot buy a home the underlying reason is education.
Let us show you what we mean:
A buyer desperately wants to buy a house. She contacts a realtor and that realtor suggests they get be pre-approved. After speaking with a loan officer, she finds out that her credit score is too low and that she cannot buy a home without improvement.
While the credit score is the underlying reason why she cannot buy a home, it’s the lack of education that caused this buyer to have a poor credit score in the first place. If the buyer had known more about credit scores, with the proper education, she may have been able to maintain a better credit score to buy a home. She may have not known the minimum credit score she needed to buy a home.
Education is the largest reason buyers fail at buying a house. They jump in so eager and think they’ll figure out the details later. This can be a dire mistake. When you’re making the biggest purchase of your life, you need to know the details before you take the plunge into homeownership.
Buying your first Knoxville home is an exciting and overwhelming experience. If you’re like most first-time buyers, you may not be sure where to start. If there is anything we can do to help you in your home search, please do not hesitate to contact us. We’ve helped countless homeowners buy their first home and we’d love to do the same for you. Rick can be reached at 865-696-9002 or via email at Rick@KnoxvilleHomeTeam.Com. Kati can be reached at 865-696-1888 or via email at Kati@KnoxvilleHomeTeam.Com.
Are you ready to start your home search? Visit our home search page to get started today. Or, be sure to keep up with our Knoxville First Time Home Buyer’s Blog to keep up with the latest information about buying your first home.