The Team here at Realty Executives Gateway is committed to helping buyers through the process of purchasing a home. Whether it’s your first time buying or your fifth, there are always some things you should and should not do. With that, here are 10 mistakes buyers make…
1. Making an offer on a home without being pre-qualified. Being pre-qualified will make your life easier. You will know exactly how much you can afford, and therefore what houses to view.
2. Not having a Home Inspection. A qualified home inspector will detect issues that you may have overlooked. Don’t try and save money now that can cost you much more in the future.
3. Limiting your search to open houses, ads, or the internet. Limiting your search allows you to view only a small percentage of the homes that are for sale. A realtor has up-to-date information that is unavailable to the public and is the best resource to help you find the home you want.
4. Choosing a Real Estate agent who is not full time and committed to forming a strong business relationship with you. Choosing the right Realtor is crucial. You need someone who is dedicated to serving your needs- before, during and after the sale.
5. Thinking there is only one perfect house out there. Buying a home is a process of elimination. New properties come on the market everyday, so be open to all possibilities.
6. Not considering long term needs. It is important to think ahead. How long are you planning to stay in this home? Will this home suit you in 3-5 years?
7. Not examining insurance issues. Purchase adequate insurance. Seek advice from an insurance agent.
8. Not knowing the total costs involved. Early in the buying process ask your Realtor for estimated closing costs.
9. Not following through on due diligence. Buyers should consider concerns they have relating to issues such as; schools, power lines, neighbors, environmental conditions, etc. Ask the important questions before you make an offer on a home. Be diligent so that you have confidence in your purchase.
10. Not Asking Your Agent for a Market Analysis. Receiving a market analysis on your future home will ensure that you’re paying market value.