7 Mistakes First-Time Buyers Make in a Competitive Market

1. Shopping before getting pre-approved. Touring homes without a pre-approval letter in hand means you risk falling for a house you can't actually afford, and sellers won't take your offer seriously without one in a competitive market.

2. Waiving every contingency to compete. Waiving the inspection contingency entirely is riskier than most first-time buyers realize. A better middle ground is often a limited or 'inspection for information only' contingency that still gives you visibility into major issues without slowing down the offer.

3. Underestimating closing costs. Beyond the down payment, budget for attorney fees, title insurance, transfer taxes, and lender fees — typically 2-3% of the purchase price in New Jersey.

4. Focusing only on listing photos. Photos can make a home look larger or more updated than it is. I always recommend an in-person (or live video) walkthrough before writing an offer, especially in a fast-moving market.

5. Not researching the town, only the house. A great house in the wrong town — for your commute, schools, or lifestyle — is still the wrong house. Spend time researching the town itself, not just the listing.

6. Writing an emotional offer without data. It's easy to overpay when you've fallen in love with a home. I pull recent comparable sales for every offer we write so you know exactly where the number stands relative to the market.

7. Going it alone on negotiation. A buyer's agent's job is to protect your interests through negotiation, inspection, and closing — using an agent doesn't typically cost you more, and going without one means no one is exclusively looking out for you.