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Tips For New Home-Buyers In A Tough Housing Market

(credit: Katie Wiggin/WLNY)

(credit: Katie Wiggin/WLNY)

NYC Fall

NEW YORK (CBSNewYork) – A home is a big investment.

The process of buying a home – especially for first-time buyers – can be pretty daunting.

Real estate expert and host of HGTV’s Property Virgins, Egypt Sherrod, visited the Couch to tell us how to avoid some of the pitfalls and give us some helpful tips.

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According to Sherrod, first-time buyers often make common mistakes.

For instance, they assume that because the market is tough, that they’re the only ones bidding for a particualr house and as a result, end up getting outbid.

Additionally, first-time buyers tend to put too muchs tock in the cosmetic features of a home and overlook the more important things like making sure a property is structurally sound. Cosmetic fixes are relatively easy and inexpensive.

First time home-buyers also tend to get discouraged too quickly if they don’t find what they want right away. Stick to the process and be consistent. New inventory pops up on the market every day.