Biggest Homebuyer Mistakes
Buying a home is typically the largest financial transaction most people will make in their lifetime. The last thing you want to do is make a mistake, one which could cost you time and money – often a lot of money.
These are some of the most common, and worst, mistakes you can make when buying a home.
Not Calling Your REALTOR®
You should always be represented on your transactions, so you’ll have someone protecting your interests, navigating and guiding you through the home buying process.
Forgetting To Do Your Homework
Before you do anything else, do some preliminary research online and talk to your REALTOR® about your real estate goals. Your REALTOR® will help you find a top-notch lender as a PQF (Pre-Qualification Form) is a must before you start shopping for your new home.
Changing Jobs Or Buying Big Items
Once you’ve decided to buy a home, it’s critical not to change your circumstances, such as beginning a new job or making a large credit card purchase. As a buyer, you don’t want to throw up any red flags to underwriting that could disqualify you from final loan approval.
Calling The Listing Agent Directly
It might be tempting to try and get a “better deal” by working with the listing agent rather than using your own REALTOR®. This is simply not true as the listing agent works for the seller and does not represent your interests.
Accepting Everything At Face Value
Always ask questions and investigate everything, including getting a thorough home inspection. I can’t count the number of times the homeowner has said their home is in picture perfect condition. To what they see everyday, likely so, but how about the roof, mechanical systems, termites, etc. There is so much a home inspector looks for that would not otherwise be known.
Buying a home is exciting, but the most important thing is to consider the details and think everything through before jumping in with both feet. By understanding some of the mistakes buyers make, you can avoid them on your home purchase.