10 Most Common Mistakes Of Home Buyers

Dated: February 3 2014

Views: 2254

Whether you are first-time home buyer or haven’t bought a home in a long time—here are a few pitfalls to watch out for. The best way to avoid these is to have a great Realtor!!

1.       Not knowing how much house you can afford. Many home buyers make this first mistake—shopping for a home before they know what they can afford. It is always best to talk to your mortgage representative to determine what is available to you and obtain a pre-approval letter. If you don’t have a mortgage rep, no worries, your Realtor will have a few references.
2.       Assuming foreclosures are great deals. Having an experienced Realtor to help you navigate this market is essential to avoiding disaster down the road.
3.       Letting your true feelings show.  Be open and objective to all properties while searching. Jump for joy at the closing.
4.       Failing to find a good buyer's agent.  Some qualities to look for in a good agent: Market knowledge, experience, honesty, and professionalism.
5.       Underestimating the costs of owning a home. Don’t forget the closing costs, utilities, taxes, insurance and possible repairs or renovations. 6.       Failing to budget for property taxes.  Always inquire about taxes for each property. Location will have an effect on property taxes. Your real           estate agent can help you find out this vital information.
7.       Assuming your first offer will get accepted. In real estate, everything is negotiated.
8.       Skipping the inspection. Although I will cover home inspections in a future blog—remember that an inspection will give you peace of mind. 9.       Doing too much too fast. Rushing into anything is never a sound business.
10.   Failing to include a contingency clause in the contract. Your Realtor is your guide through the buying process. If there is a contingency, communicate that early on for a smooth, seamless closing.  

Latest Blog Posts

Proposed Skate Park In Beach Haven

The borough of Beach Haven hopes to have a brand new attraction and community draw by summer 2023: a skatepark. The proposed skatepark would be located to the west of the basketball court on

Read More

St Francis Festival Of The Sea

   The carnival returns to LBI on August 9th for five nights of family fun! The 2022 Festival of the Sea Carnival takes place at the St. Francis Community Center grounds in Long Beach

Read More

Is Your Home Too Dated For The Market

Ok, I get it – you adore that wallpaper in your kitchen. After all, it's beenhanging there since 1989.  The problem is, if you hope to sell your home for the most amount possible,you're

Read More