Home buying can be a super stressful time in your life. This could also be the most exciting time in your life. The experience you have is certainly going to be shaped by the ease it was to find that perfect home for you.
Many new home buyers really don’t know how long it will take for them to find that special home. The steps that are needed to be taken so your transition into home ownership should not be taken lightly. This is why you will want to seek some real professional advise before you start looking.
If you want the home buying process to run easy you than you will want to limit these mistakes.
10 Mistakes New Home Buyers Make
Don’t get pre approved – Many of the new home buyers dont really know or understand the process of buying a home and they want to just go out and start looking. The very first thing you should do before you even see one house is go and talk to a lender. You will want to know what you can afford and what you will be approved for.
This is something that is very important because you will not want to waste your time looking at homes out of your price range. Also you may be surprised to know that you can afford more than you thought. This may be something that will let you get into that dream home even faster.
Don’t research the area they look for homes in – Many new home buyers are just so excited to start looking that they don’t research the area. This is far to common for people who are moving into a new city.
If you are one of these people you are going to want to take the time to research where some of the amenities that will be of interest to you are located. By doing this you will be able to focus on affordability within the area you want.
Don’t use a real estate professional – Some people think they know it all. Thats ok, but don’t be one of them. If you are looking to make one of the biggest financial decisions of your life you will want to use a professional.
Using a professional is the right thing to do. It won’t cost you anything and they are insured. If something should go wrong you can have the piece of mind knowing you are protected.
Don’t get a home inspection – Home Inspections are an important part of the home buying process. Many people claim to know a lot about everything but when you hire a home inspector to look at the house before you remove your conditions, you are protecting yourself.
The best thing to do is hire a home inspector that is insured and knowledgable about the type of home you are about to purchase. Some people use uncle Johnny to inspect the home and unfortunately uncle Johnny may have his own opinion which isn’t correct.
Start looking at homes they can’t afford – Many new home buyers are so excited to jump into home ownership that they start looking at homes they can’t afford. This all comes down to visiting a financial professional prior to seeing your first home.
The prices of homes may surprise you so don’t be surprised by the lender when they tell you what you can and can’t afford.
Don’t shop around for lower interest rates – So many of today’s new home buyers don’t take advantage of dsopping around for lower interest rates. They normally just use the bank they have been with for so long and don’t take into consideration the options available out there.
If you are going to spend all this time looking for a home and finagle over a few thousand dollars. It is in your best interest to you see your financial options when it could save you thousands a year.
Buy the first house they see – You would be surprised to know that this happens more often than not. People look and see a home and think wow! I could certainly live there.
Maybe take a look at a few homes first. If anything it will give you a feel of whats on the market and what the price range looks like in person. Many can be fooled by the tricks of a camera.
Be willing to pay full asking price – Some first time home buyers are so excited that they just want to purchase the home that they are willing to pay full price. If you are looking at a home you like the price is most likely to be an asking price. This means that this is what the sellers are asking. There is no harm in asking below that price.
Don’t ask for appliances in original offer – Could you imagine the additional cost of appliances? Well we certainly can and thats why would certainly recommend asking for the appliances in your deal. Most people will likely let that stay so its worth asking for.
Ask for a copy of utility bills – Don’t get stuck buying a house and then not knowing it is going to cost you a fortune to heat. One of the most important things you can do is ask for the utility bills.
If you are looking to buy your first home or you are a seasoned vet then these are some of the big fat red flags you will want to avoid.