Home Buyer Mistakes To Avoid!

Posted by Admirals Cove Homes on Mar 3, 2014 in Home, Real Estate | 0 comments

Buying a home is typically the largest and single most important investment a person will make during their lifetime. It is an experience that needs to be handled carefully and correctly in order for it to be a success and not a failure. Avoid making these following mistakes when buying your home to ensure that you make a good investment.

1.)   Not Knowing Your Budget: Before you even go into your home search you should have a budget of exactly what you can afford. Without a reasonable and sensible home buying budget, you run the risk of falling in love with a home that you won’t be able to afford.

2.)   Not Getting Pre-Approved: Not getting pre-approved is a mistake that has your home search failing from the start. In today’s housing market most sellers won’t even consider talking to you without being pre-approved and most realtors will require that you get pre-approved before they will work with you.

3.)   Miscalculate The Costs Involved With Owning A Home: A mistake often made by people buying a home is underestimating how much it will cost them to own and live in it. You need to know exactly how much your monthly and yearly expenses will be to live in your potential home to ensure you can afford it.

4.)   Not Hiring The Right Realtor: Maybe the biggest mistake a potential buyer can make is not hiring the right realtor. It is imperative that you find a specialist in the area you are thinking of purchasing a home. They need to have the right experience to guide you through this process to ensure that it is a success.

5.)   Failing To Kill The Wrong Deal: It is important that even though you may have fallen in love with what you believe is the perfect home that you keep a clear head and stay focused. You can’t let your emotions get in the way of you killing the wrong deal.

6.)   Forgoing The Inspection Process: You need to be sure that the investment you are making with this home purchase is a good one. The only way that you can be completely sure that you are making a good investment is to have the property inspected by a professional home inspector.