Barbara Corcoran says this is the No. 1 mistake new home buyers can easily avoid: ‘Go back for another look'

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Corcoran has over 40 years of experience in the real estate business and says this is the most common mistake people make when buying their first home.

"You get to walk the space again and reaffirm that your intuition and feeling about the space was correct," he tells CNBC Make It."When you go back for a second look, it should be to make sure that the floor plan makes sense for you."

Biryla added that he always tells his clients that the second look isn't about measuring every inch of the property but more about looking for the little things you may have missed on the first walkthrough,AzmanJaka | GettyBiryla tells CNBC Make It that it's also important to spend time in the area, neighborhood or building and talk to people living there, especially if you're buying an apartment.

"Sit in the lobby; it's a way to see some of the potential owners coming in and out and chatting with some of the staff to get a flow for how the building is run," he said."I always recommend checking the basement of a building because it can tell a lot about how the place is run." Disclosure: CNBC owns the exclusive off-network cable rights to"Shark Tank," which features Barbara Corcoran as a panelist.Warren Buffett Guide to Investing

, which distills the billionaire's No. 1 best piece of advice for regular investors, do's and don'ts, and three key investing principles into a clear and simple guidebook.

 

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