First Time Home Buyer SURPRISES | 9 Biggest Surprises when Buying a House | First Time Home Buyer

First Time Home Buyer SURPRISES | 9 Biggest Surprises when Buying a House | First Time Home Buyer

In this video, Arlington real estate agent and Realtor Matt Leighton talks about the nine biggest surprises that first time home buyers face when purchasing a house.

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First Time Home Buyer SURPRISES | The Nine Biggest Surprises when Buying a House for the First Time

0:25 1. There will be upfront fees. A home inspection and appraisal are both two examples of upfront fees that buyers will have to pay once their offer is accepted. A home inspection could cost around $500. An appraisal is usually a few hundred more, so you could pay $800 out of pocket soon after your offer is accepted.

1:08 2. There will be some "unknowns" about the property. No matter how good your inspector is or how many specialized contractors you bring in to look at the house, there may still be some unknowns about the property. The seller will either know the answer or they won't know and sometimes it can be difficult to get a concrete answer to all of your homebuying questions.

2:05 3. Your real estate agent won't know everything. Your Realtor is there to help guide you to a smooth settlement. They may not know every single detail about the property and may have only seen the property for the first time with you. That's OK. You want your agent to be an expert on the local market and an expert in having your contract gets accepted, not the expert in carpets or drywall.

3:38 4. Most people are not out to get you (but some people are). Most sellers just want to sell their house with as little hassle as possible and be somewhat reasonable when doing so. There will always be liars and cheats. If you're getting the feeling that someone is trying to trick you or corner you into purchasing the home, it may be better to walk away from the deal if you feel uncomfortable.

5:10 5. You won't get a brand new house after the home inspection. When negotiating the home inspection, focus on the big-ticket items like the HVAC and electrical work. If you're asking for repairs that cost $20, it may be time to re-evaluate your priorities.

6:34 6. Not all lenders are created equally. Many first time home buyers are looking for a mortgage and decide to go with an online lender when buying a house in 2020 because online lenders seem to have the best rates. What buyers may not know is that there are junk fees oftentimes associated with those online lenders.

7:45 7. Closing is not as scary as it sounds. You're just signing papers. And your agent, title company and lender should have already prepared you for what to expect. If they haven't, be sure to reach out and they would be happy to instruct you on the process.

8:37 8. The process will be as stressful or as fun as you make it. If you're the type of person to get anxious about which way the wind is blowing or to get emotional about everything that happens to you, then yes, the process will be stressful. But if you're the type of person that knows everything will be OK and knows there are solutions to any problems that come up, then you'll have a much better home buying experience.

9:08 9. Things will start breaking as soon as you move into your home. When budgeting, prepare to budget about 1% of the home's value per year in unexpected repair items and routine maintenance (landscaping, HVAC servicing, etc).

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matt@OrangeLineCondo.com

Matt Leighton - Arlington VA Real Estate Agent
Licensed in VA & DC
Matt [at] Orange Line Condo dot com
Century 21 Redwood Realty
1934 Wilson Blvd
Arlington, VA 22201
https://www.youtube.com/watch?v=M2Zoy2AYYw4

Видео First Time Home Buyer SURPRISES | 9 Biggest Surprises when Buying a House | First Time Home Buyer канала Matt Leighton