Mistake #1: Not Understanding What You NEED vs. What You WANT
Before searching for a home, you should clearly identify your ‘must haves’ versus the ‘nice to haves.’ Define what is non-negotiable and what features aren’t absolutely necessary.
Mistake #2: Not Being Pre-Approved Prior to House Hunting
Getting pre-approved prior to searching gives you the assurance that your search is spent looking at properties that you can afford. Also, it sends a clear message to a potential seller that you are serious and qualified to purchase their home.
Mistake #3: Neglecting to Consider the Overall Costs of Owning a Home
There’s more to it than the monthly mortgage payment. You have to plan for homeowners’ insurance, property taxes, utility costs, homeowner’s dues, plus repairs and maintenance.
Mistake #4: Not Thinking of the Future
How long do you plan to stay in the home? Are there any upcoming life events that might influence the type of home you’re considering? What is the general feel of the community and how it is trending?
Mistake #5: Not Having a Home Inspection
Having a professional home inspection before you close on the sale is one of the most important parts of the process. Review the inspection report carefully to make sure the home is in good condition and any needed repairs are addressed.
Mistake #6: Not Doing a Walk-Through Before Closing
Visit the property after all the furnishings have been moved out to make sure there are no surprises.
Mistake #7: Not Understanding the Contract
Make sure everything is in writing. A professional REALTOR® will help you understand your responsibilities under the contract and walk you through the closing process
Mistake #8: Not Having an Experienced Buyer’s Agent on Your Side
Interview and hire an experienced REALTOR, someone who will listen and understand your goals. The Seller’s Agent does not represent your financial interests. They work solely for the seller. An experienced Buyer’s Agent will work on your behalf throughout the home buying process to represent your interest and ensure your transaction goes smoothly.