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.
- 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!
- You didn’t use a Realtor: Thought you were going to make the largest purchase of your life without any professional Help? Good luck!
- 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.
- You picked the wrong mortgage company: Some banks will do a mortgage and some banks are mortgage companies. Think smart!
- You purchased in the wrong neighborhood: Oops, didn’t you bother driving around after dark? Weekends? Slow down and notice these.
- You didn’t consider resale or rental: As you tour homes put yourself in the prospective of the future buyers.
- You purchased the most expensive home on the block: Stay in the middle of the pricing when buying in a subdivision.
- 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…
- 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.
- 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.