Home Buying Mistakes
For most individuals, a home the biggest purchase they’ll ever make, thus selecting the incorrect property will have unfortunate implications for his or her wallets and well-being. Still, many owners feel a robust sense of pride in putting their mark on the property, building equity and having an a home to call their own. It doesn’t matter if you’re a seasoned or first-time buyer, here’s a glance at seven home buying mistakes to avoid.
1. Using the incorrect property agent. Request the agent’s sales information, and establish however he or she communicates. Ask questions to determine the agent’s tech-savyness: “Is it OK if I text you? Is it alright to DocuSign things?
2. Searching before you get pre-approved. Before you get serious regarding shopping for property, establish what mortgage you qualify for and obtain a pre-approval letter from your loaner. Several agents won’t even take consumers to showings until they see a pre-approval letter.
3. Maxing out your approval. Qualifying for a half-million dollar mortgage doesn’t mean you must obtain a mansion. Owners have extra expenses like property taxes, fees and maintenance that renters don’t, thus some first-time buyers fail to add these additional prices and assume they’ll afford a monthly mortgage. Have a rainy day fund for the unsuspected things of owning a home.
4. Taking recommendation from outsiders. Parents, relatives or friends WHO haven’t bought property within your local market might not know the accurate valuation and market conditions. They may have unrealistic expectations regarding what the current price of homes within your town.
5. Skipping a home inspection. Home inspections will alert potential consumers to issues like structural problems, faulty wiring and different issues a common buyer most likely wouldn’t spot.
6.Getting too attached to a single property In competitive markets, you will place offers on many properties before one is accepted. If you find a home that you feel is exactly what you’ve been looking for and you don’t get it, you need to get over it and realize was not the home for you.
For these and many more tips on buying and selling homes here in the Abacoa Community please give us a call or send us a message. 561-351-8433