1. Choosing the "Wrong" Realtor - Be sure the agent you choose is a dedicated professional you have a connection with and be sure he/she has your interests in mind.
2. Not Getting Pre-Qualified - You owe it to yourself to talk to a lender to see what you in fact can be eligible to purchase before you even look at that first house. This will help avoid you making an offer or setting your heart on a home that you may not even be able to buy.
3. Not Knowing the Costs - Ask your agent and lender about all the assorted costs that can go with purchasing a home as well as know not just what you qualify for but what you can actually afford. Along with the costs of the transaction, consider the costs in utilities and other bills you may have with a particular home.
4. Limiting Your Search - It's a low inventory market and you shouldn't limit your search at all. Your Realtor should be able to take your criteria and put it in a search that they can set up for you to help you find the home that will work best for you.
5. Looking for the Perfect Home - There is no perfect home. You need to prioritize your needs over you wants and find what will best work into that list.
6. Not Considering Your Long Term Needs - Think about where you want to be in 5 years and be sure to keep that in consideration while you look. Maybe you will get married or start a family, will the house meet those needs in the years to come? Buying a house that won't can maybe lose you money if you know it won't work for you in a few years.
7. Not Doing Due Diligence - Ask your agent all the questions you need to ask and your lender. Find out all the aspects of the transaction, costs, information about the home yourself and anything else you can so you be the best prepared to purchase that home.
8. Not Having a Home Inspection - Always worth the cost to know more about the home you are considering purchasing.
9. Not Examining Insurance Issues - You may think you can afford that house payment, but have you check to see what the insurance on a home may cost? Be sure you find that out as well.
10. Not Purchasing a Home Warranty - This isn't needed in some cases, but it never can hurt to ask about having one on the home you are purchasing.