Owning your first real estate in Woodbury MN can be both an exciting time, as well as a very stressful one. You are so happy not to be renting anymore, putting money into a landlord's pocket instead of building equity. One the other hand it can also be quite stressful because there is so much involved, getting an agent to help you out, looking at different properties, trying to find your ideal home and yet sticking to your budget.

Because of this, many people who are first time home buyers often make mistakes that they end up regretting in the long run, or even just after the 'dust' settles and they really start looking at their new home. Here are a few of the mistakes that first time home buyers make, and how to avoid them. One of the main things that a lot of people make is not doing a thorough inspection of the home, making common sense observations. This means looking around for any signs of the roof needing repairs, the slight smells of mold or mildew, sure signs that there can be a problem.

Another mistakes that some first time home buyers make is they take the word of the seller for granted. No matter what the seller is telling you, you always need to hire a home inspector. You also need to be on hand when the inspector is looking your potential home over, to make sure he is doing his job right, and have any questions answered right away.

Many people don't do enough overall research before buying a house in Woodbury MN. They don't compare mortgage companies or other lenders, they don't get multiple quotes for insurance. They also don't do enough background research on the property they are interested in. For a perfect example, sometimes sellers try to sell a home with problems, like liens on the property itself, whether it is from a contractor, the tax assessor, etc, that they won't tell you. You buy the home only to have someone come in and say you owe them money, what can you do about it?

If you are interested in a home, always do a background check on the property, making sure there are no liens, or that there isn't some problems with the land or soil itself. All of these are public records, so you can simply go down to your local city offices and find out for free.

Another mistake that first time home buyers make is trusting their real estate agent. While there are many agents that are on your side, others are more on the side of the seller, and want a better deal for them than for you. Here too you need to really check around, asking questions of agents like how much commission the make off of a sale, what their reputation is, and how many homes they have sold.

One of the last mistakes that first time home buyers often make is holding out for that perfect home. You are not going to find a home that is 100% perfect, and you may be missing out on a home that is within your price range that is very close. Waiting for the 'perfect' home can also cost you more money, because while your waiting the market may get better and prices increase.