First Time Home Buyers ~ Expectation vs Reality.

First-time homebuyers often have unrealistic expectations when it comes to buying a home. They picture their dream home with a white picket fence, a spacious backyard, and beautiful interiors that match their Pinterest board. While, it's great to have a vision, it's essential to be realistic when it comes to home buying.

One of the biggest mistakes, is not focusing on the exit strategy. The first home purchase rarely is the last. However, the way to get to the dream home is from the equity earned by selling the first home. 

Another expectation is that buying a home is a quick and easy process. In reality, it can take several months to find the right property, get pre-approved for a mortgage, and close the deal. It is important to be patient and work with a trained real estate agent who can guide you through the process.

First-time homebuyers also tend to overlook the additional costs that come with homeownership. This includes property taxes, homeowners insurance, maintenance, and repairs. It's important to factor these costs into your budget to avoid any surprises down the road.

Real estate news and trends can also impact expectations. For example, in a competitive market, buyers may have to bid higher or act quickly to secure a property. While in a slower market, interest rates could be higher but the competition is less fierce. It's important to stay up-to-date on ACTUAL market trends (not just hype) and work with an experienced agent who can help you navigate the market.

Instead of focusing on unrealistic expectations, focus on needs over wants in a home. This includes the number of bedrooms, bathrooms, location, and other amenities. It's also important to prioritize what is essential versus what is nice to have.

In conclusion, buying a home is a significant investment and requires careful planning and consideration. First-time homebuyers should focus on their budget, be REALISTIC about the process and properties available, and factor in additional costs. By working with a trusted real estate agent and staying informed on market trends, buyers can find their dream home without unrealistic expectations.