Frequent Home Buyer Mistakes to Avoid
Whether you are afirst time buyer or a seasoned professional; there are still some consistently common mistakes that people make. In this article I am going to outline the most common buyer mistakes and then show you how to avoid them. Be sure that when you buy a home that you stay focused and objective.
Frequent Buyer Mistake #1
Paying more than you should for a house because of its zip code, neighborhood or street. No matter what the Jones’s say you are not measured by your zip code. If you know deep down that the home is over priced then its going to be a bad idea to buy the home no matter what street its on.
Frequent Buyer Mistake #2
Buying the most expensive home on the street. Remember that your all real estate is an investment even your home. Real Estate inside of a neighborhood rise in value when the property around it goes up. If your house is the highest priced piece of property, you value will go up much less than the others.
Frequent Buyer Mistake #3:
Falling in love with a home that is not in your budget. Its easy for most of us to want a home we really can’t afford. No home is worth having to struggle and pay at the cost of living a balanced happy life. Saying that, before you even begin searching the mls have a professional help you understand what price range you are pre-qualified for. Connecting with the right mortgage person or financial institution can be a very empowering experience. You will learn about your credit score, your rates along with the other ins-and-outs of financing a home.
Frequent Buyer Mistake #4:
Rushing The Home Buying Process. Make sure that once you have found the home you want, that you closely evaluate to make sure that all the elements around the home will make you happy. It can be very challenging to get out of a deal once you make an offer on a home and its accepted. Make sure that your decision is well informed and that your realtor has your best interest at heart.
Frequent Buyer Mistake #5:
Buying a home on a street next to commercial zoning without checking into zoning. Have you ever seen anyone on the news talking about the problems with their city planning and how its effecting their neighborhood. Well its real and their is a possibility their could be an issue you are not aware of. Take the time to check zoning before you purchase your next home
Frequent Buyer Mistake #6:
Buying a great house in a bad area. You can always upgrade the home. But the area will remain what it is until something else outside of your control changes. If the property value of the homes around where you want to move are still going down, be very careful. You can still lose money on something that looks like a good deal; so please be careful.
Frequent Buyer Mistake #7:
Not Doing a home inspection. And a home inspection is one of those things that you just need to protect yourself and help you make a good decision. I understand that you want to save the money but the right home inspector is more than worth the price.