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First Time Homebuyer Mistakes: How a REALTOR® Can Help

Louisiana REALTORS® • February 22, 2024

Buying a home can be one of the most exciting, and stressful experiences you can have. This is the largest purchase that you’ll ever make, and there can be pitfalls along the way if you aren’t careful. However, partnering with a REALTOR® cannot only make this a smooth transaction but an enjoyable one as well. Here are three mistakes that are easy for a first-time homebuyer to make, and how your REALTOR® can help you avoid them.


Consider All of the Costs, Not Just Your Mortgage Payment

While your monthly mortgage should be a key concern, there are many other financial considerations to be made. Insurance, taxes, home maintenance costs, and more can all add up quickly. Other factors like a new commute to work, schools, and more are all directly influenced by the location you choose. This is where a REALTOR® can be invaluable. Your REALTOR® can give you a clear picture of what these costs will look like, helping you plan accordingly, and make the best decision possible.


Don’t Begin Shopping Without Being Pre-Qualified

One of the biggest mistakes you can make when is to begin shopping for a home without having your financing lined up. This can be a tremendous waste of time and energy for you and everyone involved. Your REALTOR ® can be a great resource for helping you find a lender. It is also important to know that once you are pre-approved you should not take on any new financial obligations like a new car or credit card. This can change the terms of your mortgage or even forfeit it.


Not Using a REALTOR®

This may have been implied as the expertise of a REALTOR® has been demonstrated throughout this list, but this is an all-to-common mistake made by first-time homebuyers. Your REALTOR® has the experience and expertise that will not only help you find the perfect home but will be a tremendous resource in negotiations and seeing the transaction successfully through.   

MORE HOMEBUYER RESOURCES

Consumer Guide Update: Homeowners Associations

By Louisiana REALTORS® • March 21, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on homeowners associations (HOAs). This guide covers the basics of what prospective buyers need to know, including who runs HOAs, how monthly fees are applied, rules HOAs enforce, and the pros and cons of living in an HOA community. For additional information, we encourage you to check out this REALTOR® Magazine article on the nuances of how homeowners associations can affect real estate transactions. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Homeowners Associations Marketing Your Home Seller Disclosures Property Taxes Preparing for Homeownership Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover navigating multiple offers.
Louisiana Real Estate Legislation Advocacy: How REALTORS® Can Make a Difference

Louisiana Real Estate Legislation Advocacy: How REALTORS® Can Make a Difference

By Louisiana REALTORS® • March 17, 2025
Discover how REALTORS® play a key role in legislative advocacy, ensuring that real estate rules and regulations protect brokers, clients, and the market. Learn about the benefits and opportunities they provide.

Consumer Guide Update: Marketing Your Home

By Louisiana REALTORS® • March 14, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on marketing a home. This guide covers several methods for sellers to consider, including setting up showings, hosting open houses, and maximizing the visual appeal of a home through staging and/or cosmetic updates. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Marketing Your Home Seller Disclosures Property Taxes Preparing for Homeownership Escrow and Earnest Money Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover homeowners associations.
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