Thinking about making a move? GREAT! What an exciting time for you.
Before you begin your homebuying journey, be sure to avoid these 3 sure fire ways homebuyers lose – big time – when buying a new home.
You may ask: “lose”? How can I lose?
Too many buyers rush into the homebuying process before they’re ready. And doing so not only wastes their time but, in some instances, it costs them thousands of dollars.
Keep reading to learn what these top 3 mistakes are . . . so you make sure to avoid them!
Not getting prequalified BEFORE beginning your search Many buyers make this mistake, thinking they know what they can afford. What you may not consider, however, are other costs associated with home ownership – or a host of other issues that bear on the issue of your credit.
I’ve worked with some buyers who were pleasantly surprised that they could actually qualify for MORE than they imagined. But I’ve also had buyer clients who learned of issues on their credit report that had to be handled and resolved before they would be able to move forward in the homebuyer process.
An informed buyer is the BEST buyer. The 5-10 minutes it takes to talk to a lender to get prequalified is, without a doubt, well worth doing.
Not thinking through your “wish list” & prioritizing what’s most important Believe it or not, regardless of your budget, there will ALWAYS be compromises.
That’s right! Even with a $1 million budget, it is unlikely that you’ll find EVERYTHING you’d like in your next home.
That’s why it’s always best to take time to really think through your dream home “wish list” and, then, prioritize your list from most important to least important. In fact, some buyers create 2 lists – one for “must haves” and another for “like to haves.”
This is particularly useful information for your real estate agent, who knows the local market well and can better guide your search to find the home that will be perfect for you.
Not hiring a professional real estate agent Did you know that the seller pays for YOUR agent? It’s true!