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Top Mistakes To Avoid When Buying A Home

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Top Mistateks to Avoide When Buying a House

Buying a house is one of the most exciting moment in someone’s life.  Though exciting, the home buying process is simple but can be very complex and intimidating.

To help you be more prepared and avoid any pitfalls, here are a few things to be aware of:

Not thinking about down payment and closing cost

As I mentioned, buying a home can be an exciting moment in anyone’s life.  With all of the excitement, buyers tend to forget that there are cost associated with purchasing a home such as down payment and closing cost.  You don’t have to put 20% down when buying a house, there are programs available for down payment assistance and closing cost.  We highly recommend talking with a mortgage lender to see what is available for you.  Most people make the mistake of putting a lot of down payment down or not putting enough.  Some forget that there are closing cost fee associated aside from the down payment.

Going over the budget

This one is probably one of the most common mistakes home buyers make.  Many home buyers waste time and money looking at homes that are too expensive or out of their budget.  Don’t make the mistake of wasting your entire life’s savings on your first home.  More than likely and based on our experience, people tend to upgrade to bigger or downgrade their homes.

Credit awareness

It is very important to be aware of your credit.  When you start the home buying process, the lenders will pull a credit report in the beginning of the pre-approval process and just before the closing day.  This means you should not do anything to jeopardize your score.  Don’t make any major purchases that could lower your probability of getting the loan approve.  Avoid any late payments and even opening or closing any existing accounts.

Not Hiring A Realtor

Sure you can buy or sell a house without a Real Estate Agent.  But let’s face it, a real estate agent has so much value to bring such as resources not available to the public.  A Realtor has access to the MLS which shows all of the home listings as they come to the market, it also has information to find out the true and correct value of your home.  A Realtor is also knowledgeable about the local market and can help you navigate and streamline the home buying and selling process.  Don’t miss out any saving money, getting the best deal, and having the best experience, hire a real estate professional.

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