If you're a first-time home buyer, make sure you are aware about the most common home buying mistakes. The whole home buying and home selling process is a complex procedure and you need all the help that you can get to make sure everything is covered. Here are a some tips on what you must NOT do when you're buying your first home.
There is No Budget Alloted
It's extremely important that you are financially prepared to buy a home. You need to know how much you can and cannot afford. Whether you are paying in cash or you're planning to mortgage, know your budget and make sure you stick to it. This will greatly help you narrow down the properties during your home search, thus saving you a lot of time in finding your perfect home. The best way to achieve this is to talk to a trusted lender so he or she can evaluate your financial status. Note: Pre-qualification is really crucial in the Real Estate Market.
You’re Not Familiar with the Location
Real estate is all about location, location, location! Make sure you know the kind of community that you want and need for you or your family. If you're unsure, talk to a real estate agent and ask about which community has major renovations or changes coming up? Is the neighborhood supposed to increase in value over the next 5 years? What about the groceries, hospital, and schools? Are they easy to access?
You Decided to Buy without Home Inspection
Home inspection is a vital part of the home buying process for several reasons. It reveals any major health and safety issues that should immediately be addressed. It will also determine the real value of a certain property.
Buying a home is something that you need to take really seriously because after all, it is one of the biggest financial decisions of your life. Having a realtor can assist you in the whole home buying process and he or she can make sure that your short and long term goals are kept in mind.
Feel free to contact me when you have questions or inquiries about the home buying process. I’m always open and willing to share my professional thoughts.
Sean Blanchette(703) 371-5710Sean@FrontDoorHomes.com