10 Most Common Mistakes Of Home Buyers

Dated: 02/03/2014

Views: 1668

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

Tax Appeals In The LBI New Jersey Real Estate Market

Tax Appeals in the LBI New Jersey Real Estate MarketLong Beach Island Real EstateWhile most buyers are surprised at the relatively low property taxes on Long Beach Island, anything that

Read More

Big Plans For The Holiday Inn In Stafford Township

If you have taken a drive on rt. 72 East going towards the Island and passed the Holiday Inn in Stafford Township you probably noticed the large looming playground being built!A great place to

Read More

Long Beach Island Real Estate Market Prices

Long Beach Island Real Estate Market PricesLong Beach Island New Jersey Real EstateThe LBI real estate market has been seeing some strong activity over the last few years. So much in fact

Read More

Long Beach Island Real Estate Weekly Sales Update 21020192172019

Long Beach Island Real Estate Weekly Sales Update 2/10/2019-2/17/2019Long Beach Island Real EstateLBI NJ Real Estate Weekly Sales Update 2/10/2019-2/17/2019: With 127 changes to the MLS this week on

Read More