Buying a house marks a big time in your life. You’re officially moving away from paying rent, and establishing your own official home. There’s a lot involved in the homebuying process, and it’s easy for something to go awry, or to get carried away in trying to find your “perfect” home. Avoid these common mistakes, and it will save you time, money, and lots of stress.
Not Being Ready To Make An Offer
According to realty experts, when buying a house, do not even start looking for homes until you have the money to make an offer. The trick with home buying is that if you wait to think about whether or not to make an offer, or if you wait for the money to come, someone else will get the house you want. Negotiation is a great time to think about whether or not you want to buy.
Before you even think about looking for homes, or attending open house events, get a copy of your credit score and credit report. The higher your credit score, the more likely you are to be preapproved for a low-interest-rate mortgage. Make sure you receive your credit report with enough time to validate its information; double check that the facts are correct and dispute mistakes. You’ll want to do this before a mortgage lender checks your credit.
Not Getting A Proper Home Inspection
Many first-time home buyers don’t invest in a home inspection, or they get someone they know (who isn’t a licensed home inspector) to do it for free. Neglecting getting a home inspected is a huge mistake. It’s easy to fall in love with the aesthetics of a home, without knowing what’s really going on. There could be roof leaks, foundation problems, mold, or any number of other issues that could severely cost you later on. Investing in an inspection could save you a lot of money and peace of mind in the long run.
Buying A Home Outside Your Price Range
This seems like common sense, but it is astounding how many people buy a home outside of their price range because they get carried away. In order to avoid throwing yourself into a lifetime of debt, or buying a home that you simply cannot afford, the realtors at Schreiner Realty advise that you create a budget for yourself. Before even beginning your home search, create a that can budget help you determine a realistic amount that you can afford. Housing costs are more than just the mortgage payments — they include mortgage principal, interest, taxes, insurance, and maintenance.
Not Hiring A Realtor
A professional Real estate agent is an investment that will get you closer to the home of your dreams, and ultimately save you money, time, and stress in the long-run. Hiring a real estate agent gives you access to resources that you wouldn’t otherwise have. It’s possible to buy a house on your own, but it is a great deal of stress, and takes a lot of time. Real estate agents have access to all homes on the market, they can sift through all the listings to find the ones that are perfect for you, and they will go through all the tedious paperwork for you. Your real estate agent is looking out for your best interests to help you find the home you’ve always wanted, and save you money and stress. Contact Schreiner Realty today to get connected with a trustworthy real estate agent.
Trying To Get Everything On Your “Wish List”
As a first-time home buyer, it’s important to remember that you will most likely not be able to afford everything on your wishlist, let alone be able to find all of it in one home. It’s common to be close-minded when looking for a home. A great tactic to get an amazing home that is still realistic for you and your price range is to create a “needs and wants” list with your real estate agent. The “needs” on your list are deal breaker items that you will need to have, whereas the “wants” are things you’d like but are willing to compromise on. This will help you stay open-minded when looking for homes, and to find a home that suits your needs perfectly.
At Schreiner Realty, we are dedicated to putting our clients first. By ensuring excellent communication, step-by-step guidance in the home buying process, and honesty to each of our clients, we make sure every client gets the home of their dreams. Contact us today to learn more.