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5 home buying mistakes to avoid

Often we learn by making mistakes and there’s no exception in home buying. We have pulled this list together so you can avoid these common pitfalls and make your home buying process easy.

1. NOT TALKING TO A LOAN OFFICER FIRST

You don’t want to fall in love with a house and find out that you can’t afford it, or not be prepared to make an offer right away. Homes can go on and off the market quickly, so you want to be sure you are ready to make your move.

2. NOT GETTING A REAL ESTATE AGENT

No, you don’t have to have an agent, but the home buying process is tricky. There are many new things to learn and a real estate agent will be able to answer all your questions, take care of the details and they might even have access to listings early. Make sure to find one that is a good fit for your personality and needs, you will most likely be seeing a lot of them.

3. MAKING UNREALISTIC OFFERS

It can be easy to fall in love with the “perfect” home, but you must still consider the market value when making an offer. A loan will only include the appraised value, so if you agree to a higher amount, you will need to cover the rest up front. A real estate agent will know the area and can guide you to an ideal offer.

4. NOT SEEING PAST THAT WEIRD PAINT COLOR

When you look at a home, you want to see its potential rather than what the current owners might currently have. Ignore anything that can easily be fixed like a wall color, room furniture or fixtures and focus on things you can’t change like structure, location, or yard size.

5. MAKING IT EMOTIONAL

Buying a home is most likely the biggest and most emotional purchase you will ever make. Negotiations with the seller can get heated. You both want to walk away feeling like a winner. A real estate agent is your negotiator and advisor while under contract, but you make the final decisions. Think of the home as an investment. Take a step back and make sure you are making these choices based on logic instead of emotion.

 

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