First-time homebuyers face a steep learning curve. There's much to know, much to learn, and a great potential for "rookie mistakes" -- with potentially costly consequences.

What should you check? Here are 10 basic issues to consider.

1. Rushing into the transaction. Buyers looking for homes in extremely tight markets may feel pressured to make an immediate offer. Instead, it makes sense to become familiar with the local market before making a purchase offer.

2. Not asking enough questions. First-time homebuyers, by definition, simply don't have homebuying experience. It may be uncomfortable to ask questions, but ask anyway. Brokers can't answer unasked queries.

3. Searching in vain for the "ideal" house. Many buyers run themselves and their brokers ragged as they repeatedly dismiss homes that meet most -- but not all -- of their specifications. A buyer who turns down a house that meets most criteria -- but not all -- may lose the best available property as well as good financing if market conditions change.

   First-timers should surely view different homes before making an offer. That way you can better understand the marketplace and know more about local prices. Brokers will often recommend that buyers, and particularly first-time buyers, avoid jumping on the first property they see -- but that they don't drag their feet when the find a house they love, either.

4. Avoid Overbuying." Homes routinely seduce buyers into becoming "house poor," spending so much for a home that they must forego annual vacations, restaurant meals and other forms of entertainment. Pre-approval through a lender can help determine a reasonable target price range and also identify the mortgage programs which can work best for you.

5. Waiting for 20 percent down. That's an admirable goal, but years in the future for many first-time buyers. Instead -- especially in markets with rising values -- buy now with little down. Consider VA, FHA and loans with private mortgage insurance (PMI).

6. Be realistic. It's tough to ignore a home's curb appeal, but what about practical matters? Enough space? Off-street parking? Good construction? Low maintenance? How far to work? Boring stuff -- but important.

7. What about zoning? Is the property next door zoned for a 24-hour service station? Fire station? Nuclear test site? Ask the broker about zoning for the property and also the surrounding area.

8. Ignoring representation. The odds are overwhelming that the seller has a broker. What about professional help for you? A buyer broker, an attorney, or both can give you equality at the bargaining table.

9. Skipping an inspection. A professional home inspection is simply a "must" whether you are buying an existing home or a new one. Speak with inspectors before you enter the marketplace to see how they work, what they cost, and what they recommend.

10. Don't under-estimate closing costs. There is more to buying a home than a downpayment. Your broker and lender can help you determine probable closing expenses -- information you need to avoid unwanted financial surprises.

Is there more you can do? Sure. Understand that buying a home is a complex process -- so prepare before you go into the marketplace, speak to those who have bought recently, and keep asking those questions.

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