Buying a new home can be tricky business.There are a lot of tips for what you should do when shopping around for your dream home, but there are also a lot of things you should avoid. Save yourself some stress and have no regrets when by avoiding these five things.
Are you currently looking for a new home? Check out my guide on how to never miss a new home.
Not talking to your lender
Today’s housing market is super competitive. If you want to increase the odds of getting your dream home, you need to have your financial house in order first. This means getting a pre-qualification or a pre-approval letter before you start looking for homes.
Get pre-approved by your bank for a home loan before you start seriously looking for houses. Being pre-qualified for a loan gives sellers confidence that your lender has reviewed your credit and gathered basic financial information. Taking it a step further and getting pre-approved will also make you more attractive to sellers, because they know that you are unlikely to back out of the sale due to a finance issue. It also means you can move quickly when it comes time to buy.
Getting caught up in aesthetics
A trap people often fall into is focusing on the cosmetics of the home. Things like wallpaper, paint, carpeting, and even furniture can sway your opinion. It’s only natural, but having an opinion on these surface features is a major mistake. You may be passing up a great place to live because you can’t get over the clown-print wallpaper in the bathroom.
On the other hand, it’s also easy to be wowed by sleek lighting fixtures and fancy decor. While you focus on these things, you could overlook the flaws like a bad roof, or old windows. You must look past the aesthetics to see the house in its true form. These aesthetics are often an easy fix.
Skipping inspections
Under no circumstances should you skip a home inspection. There could be major flaws like a cracked foundation or mold in the walls that the sellers aren’t even aware of. If you skip an inspection, you’ll discover the problem when it’s too late, and then you’re on the hook for costly repairs.
Getting an inspection done is the best way to ensure that you won’t be footing the bill for any problems that were present before you bought the home.
Unsure of what to expect? Check out these home inspection tips for buyers.
Looking outside your price range
If you’ve ever watched home-buying shows, or TLC shows like Say Yes to the Dress, you’ve seen prospective buyers just ‘have a look’ at something outside their price range, and then completely fall in love with the home or dress that falls outside their budget. Then, they either must swallow their disappointment and settle for something else, or stretch their budget to afford it.
Don’t risk heartbreak or financial security. Stick within your budget and don’t look outside it unless you’re absolutely sure you can afford to pay a little bit extra.
Not getting a Realtor
Your Realtor acts as your guide throughout the shopping and buying process. They’ll also look out for your best interest throughout the transaction. Not only will they help you find listings that aren’t online yet, they also know the best way to work with the selling agent to ensure that both parties get the best outcome. If you’re not sure how to find the right agent for you, check out my post on 10 questions to ask a real estate agent.
If you’re looking for an agent in DC, Maryland, Virginia, or West Virginia, I would love to help you. Whether you want to buy or sell a home, I can guide you through the process and answer any questions you have about the DMV area. Have a look at my featured listings, or contact directly at si**@******gh.com.
Did you like this post? You may also enjoy these:
Leave a Reply