Whether you’re a seasoned pro or a first time home buyer, make sure you don’t fall victim to one of these pitfalls of the process.

  1. You don’t set a budget.  It’s important to know how much you can comfortably afford to write the check for each month.  Be sure to include taxes and insurance too!
  2. You didn’t use a Realtor: Thought you were going to make the largest purchase of your life without any professional Help? Good luck!
  3. You picked the wrong Realtor: Liked their picture on the web?  Check their experience, ask for a reference, see if they have a web site.
  4. You picked the wrong mortgage company: Some banks will do a mortgage and some banks are mortgage companies. Think smart!
  5. You purchased in the wrong neighborhood: Oops, didn’t you bother driving around after dark? Weekends? Slow down and notice these.
  6. You didn’t consider resale or rental: As you tour homes put yourself in the prospective of the future buyers.
  7. You purchased the most expensive home on the block:  Stay in the middle of the pricing when buying in a subdivision.
  8. You decided not to do an inspection: That was brilliant, thought you’d save a couple hundred bucks did ya now? Heat pump – $4,000 Sorry…
  9. You didn’t know what home prices were in that area: Another reason to enlist the help of a realtor, CMA’s are the Realtors eyes and ears.
  10. You forgot to set aside enough for closing cost: Your mortgage company can provide a GFE in advance so there are no surprises.

Hope these help!! Feel free to contact me directly for more information or direction on any of these potential pitfalls of homebuyers.
Thank you,
Michael Banks