Buying a home can be a fun process, but it’s far from simple. Here are a few of the most common mistakes I see homebuyers make and how you can avoid them.
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I’m working with buyers a lot these days and they always want to know about the common mistakes I see other buyers make and how they can avoid them. Today we’re going to talk about the top three, which are:
1. Not shopping around. Make sure you look at all the types of homes on the market in the neighborhood you’re looking for. You don’t have to jump at the first one. I always tell my clients not to fall in love with a house until we’ve closed escrow because you never know what might happen over the course of a transaction given all of the contingencies involved. All you can do is try to be comfortable with as many options as possible.
All you can do is try to be as comfortable with as many options as possible.
2. Putting too much money down. A lot of people think they need a ton of money to put down on a home, but you can get a loan for as little as 3% down in this market depending on your qualifications. Be open to your lender’s recommendations and realize that putting all of your money toward a down payment isn’t always a wise financial decision.
3. Not using a Realtor. You need someone to advocate for you and negotiate on your behalf whether you’re buying or selling a home. Doing so will save you more money than it will cost you in the long run. An experienced, professional Realtor will be on the ball and be able to point things out throughout the process that will help save you time and money.
If you have any questions for me about these home buying mistakes or about anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.