The asking price of the home was $800,000 and with a financial sleight of hand by a mortgage loan officer, El Moussa was approved, but ended up penniless in a 1,400 square-foot home adorned with the latest in minimalist furnishings–as in no furniture whatsoever.
“Although I laugh looking back at it now, the experience taught me an important lesson: Buying a home is exciting,” El Moussa told Realtor.com. “So exciting, in fact, that it’s all too easy to get swept up in your emotions and make some mistakes.”
El Moussa cited seven mistakes rookie home-buyers make:
- Going house shopping before mortgage shopping
- Buying a house beyond your budget
- Gushing about how much you love a home
- Bypassing a home inspection because the house looks perfect
- Assuming new construction is in great shape
- Forgetting to ask about HOA/condo fees and assessments
- Buying just because you’ve had it with house hunting
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