10 Common Buyer Mistakes
Now that you have decided to buy a home, you may be asking yourself, what should I do first. Buying a home is often the largest financial investment a person will make in a lifetime, yet often home buyers will "dive in" without taking the time to understand the process.
Buying a home can either be a "hair-raising" and stressful experience or it can be one of the most fun and exciting times of your life.
There are 10 commonly known critical mistakes that many homebuyers often make. This report is designed to educate and inform you of the 10 common and often critical mistakes many home buyers make.
- The first and often biggest mistake that a home buyer can make is to spend every last penny on a house payment. When deciding how much to spend on a house you need to look at your lifestyle. If you enjoy going out to dinner two or more times a week or if you enjoy nice vacations a couple times a year you may not want to spend as much as you can afford on a house. You will not be happy for very long if your house payment prevents you from doing the things that you enjoy doing.
- Well staged homes always look great and can be a big temptation. Try to look past the furnishings and imagine the house with your furniture or vacant. This will help you to see the house as it is rather than just the great decorating.
- Don't buy the first house you see. There are many homes on the market to choose from. The buyers I work with typically see between 10-20 homes before deciding on the right home. By taking the time to see several homes you will gain a good feeling for the current real estate market, and when you find the right home you will know that you've found the right home.
- Align yourself with the right real estate professional and utilize the team. I have lenders, inspection teams, repair men, title representatives, and insurance agents - an entire group of top professionals all ready to make your home buying experience enjoyable.
- Now that you have found the perfect home and the inspections are complete be sure to review them closely. These reports are the best way to know the actual condition of the home you are buying. If you are buying a condo or town-home, be sure to review these documents closely as there may be restrictions on what you can and can't do with your property.
- Do your homework. You'll want to check out all your future expenses such as average utility bills, property taxes, homeowners insurance, and homeowner's association dues so you will not have any unexpected surprises after you close. You will also want to make sure that the water, gas, and electric are on. Nothing could be worse than moving into a new home in the middle of winter only to discover that the heat, electric, and water are turned off.
- Make sure that everything is in writing. Don't rely on anyone's word when it comes to buying a home. Don't make any assumptions. If it is not in writing it does not exist.
- A final walk-through can be a little inconvenient, but it is a must! You will want to walk through the property prior to closing to make sure there are no last minute surprises and that the home is in the same condition as it was when you wrote the offer. The home should be left in exactly the same condition as you agreed upon in the contract. Often times a seller can make an unintentional error and remove an item or items that were to remain with the home. A final walk through is an easy way to avoid this.
- Be flexible. All the dates are specified in the contract, however occasionally something may come up which will necessitate a change in the closing date. If this happens, try not to get stressed or frustrated and know that once you are in your home it will all be worth it.
Be open and honest. Know that I have your best interests at heart; however I can't read minds. If there is something on your mind or something is troubling you, please let me know. I can't work to solve a problem if I do not know it exists.
My hope is that this report will help you to avoid the pitfalls and heartaches that many buyers go through. I hope you find these tips to be valuable and if there is any way I can be of further service to you, please let me know. I'm happy to sit down with you, talk about your home buying plans, and see if we are a match... no high pressure, just plain, honest talk about what it is going to take to achieve your goals. Give me a call. 303-254-5915
