10 mistakes first-time home-buyers might make.....

 Buying your first home is an exciting experience, but it is also a complicated process. Learning all you can about that process before you get started is essential to reaching your end goal — buying a house, you'll be proud to call home at a price you can afford. One of the most important things to learn about is how to avoid costly missteps along the way, so here are ten mistakes to avoid as a first-time home buyer:

1. Not dealing with credit reports ahead of time
   Check your credit reports — even if you are sure you have good credit. Report errors are common, and they can increase your interest rate or even make it difficult to get approved for a loan. Get copies of your reports and make sure they are accurate. If not, get them corrected before they are examined by lenders.
2. Not knowing what you can comfortably afford
   You need a solid budget in place to avoid getting in over your head when buying a house, so tally up your expenses carefully. Subtract the total from your take-home pay and see what's left every month for an accurate appraisal of how much you can afford to pay for your new home.
3. Not getting pre-approved for a loan
   Having a pre-approval in hand when you're ready to make an offer on a home signals the seller that you are a serious buyer, prepared to make a deal and follow through. Not having one, especially in a competitive market, can result in your offer being rejected in favor of one from a buyer who has all their ducks in a row.
4. Failing to shop around for the best mortgage deal
   Many first-time homebuyers pay more than they should for a home loan by getting a mortgage from the first lender they speak to. Get quotes from at least three to compare interest rates, fees, and terms.
5. Under-estimating the costs of home buying
   First-time home buyers are often taken off-guard by expenses that come up during the home-buying process. Expenses to budget include appraisal and home inspection fees, and the biggie, closing costs, which are generally between 2 and 5 percent of the purchase price of the home.
6. Applying for new credit or spending too much before the closing
   Your mortgage is approved and the closing date is set. Now you're home free, right? Not quite. Your lender will check your credit again just before closing, and if you have made large purchases or opened new credit accounts, your credit score could fall. This may result in a higher interest rate or even a mortgage cancellation.
7. Looking for perfection and overlooking potential
   Great homes can be decorated badly, so being able to overlook cosmetic, easy-to-fix details to see a home's potential is key to making your best deal.
8. Failing to consider the neighborhood
   You may love the house, but will you hate the neighborhood? Check it out before you sign on the dotted line.
9. Skipping the inspection
   If you really love a home, it can be tempting to speed up the process by skipping the inspection. This can be an extremely costly mistake, leading to large, unexpected expenses later.
10. Not using an agent
    A good buyer's agent will protect your interests — and only your interests — as you navigate the home-buying process. Having someone solidly in your corner when you're buying a house is invaluable when it comes to avoiding the common pitfalls first-time home buyers often encounter on the road to becoming a new homeowner.