Learn From Those Who Have “Mistaked” Before You
Following, you will find the 3 homebuyer mistakes you need to be aware of as you get ready to make that lifechanging decision and purchase the new home you have always wanted.
When you are preparing for, or in the process of, purchasing a new home, it is of utmost importance you understand what steps you need to take in order to complete the transaction in a timely and uncomplicated manner.
What people sometimes forget in their rush to get into the home of their dreams is to understand is the fact that some steps people take when buying a home are just plain wrong and should be avoided at all costs.
This is one good reason alone to learn all about the different mistakes your fellow home buyers who came before you have made when purchasing a home. If you know what they are, you can learn from them, and learn to avoid them much more easily if it comes to it. This way, the chances of you making any silly first time home buyer mistakes will be considerably diminished!
Mistake # 1: Believing you can’t afford it.
Lots of people who believed that purchasing the house they desired was merely out of their reach are now taking pleasure in a brand-new way of life in their very own homes.
Purchasing a house CAN be the most intelligent financial choice you will ever make. A lot of property owners would be broke at retirement if it weren’t for one conserving grace– the equity in their homes — which also allows for certain tax allowances for homeownership.
This implies that every month when you make a home mortgage payment, the quantity that you owe on the house goes down and the worth usually increases. This “owe less, worth more” circumstance is called equity accumulation and is the factor you can’t afford NOT to take advantage of.
Even if you have little cash for the deposit or credit issues, the opportunities are so plentiful, there are always ways you can still purchase that brand-new house. It simply boils down to understanding the ideal methods and dealing with the best home inspectors, agents, and other industry professionals and insiders.
Mistake # 2: Not working with a buyer’s agent representing you.
Real Estate is a complex and demanding job. Innovation, laws, treatment, and competition from other purchasers create a need for buyer representatives to carry out the tasks required of an agent during the purchase or sale of real estate at an ever-increasing level of proficiency and professionalism.
Also, making incorrect choices can end up costing you thousands of dollars.
A real estate buyers agent can assist you to discover the most excellent home for you and your family, the most exceptional lending institution, and the finest home inspector in your location or area. It is important to always make sure your inspector is an InterNACHI-certified home inspector since InterNACHI inspectors are the most certified and best-trained inspectors in the world.
Shopping for and purchasing a home without an agent or a certified home inspector is, well, that would just be unimaginable…
Mistake # 3: Getting a low-cost home inspection.
Buying a home is likely the most costly purchase you will ever make.
The cost of a home inspection when buying a home is quite small when compared to the total worth of the home to be inspected.
As a home buyer, you have just recently been crunching numbers, working out deals, including closing expenses, shopping for home loans, and attempting to get the best offers you can find. But the inspection is not an area you want to scrimp.
Just like any other industry, you’re going to get what you pay.
Summary of 3 Homebuyer Mistakes
Now that you are armed with the knowledge of these commonly occurring 3 homebuyer mistakes, you can approach the purchase of your new home with more ease and comfort.
Many times it is not enough simply to know what it is you need to do given certain situations or circumstances, life events, etc. It is also important to know and understand the things you shouldn’t be doing as well.
I mean, it is literally impossible to know what you don’t know, so if you don’t know that getting a cheap inspection could end up costing you A LOT MORE money down the road, or if someone hasn’t told you this, you are much more likely to make this homebuyer mistake and possibly end up regretting the decision a great deal.
Some people say that money is power, which to a certain extent I can agree with and understand, but personally, I believe knowledge can be much more powerful than even money when used properly. So keep reading, and learning, and while you’re at it, why don’t you check out some other articles we have written, here at SPS Inspections of Olympia Washington!?
Now that you know what NOT to do when buying a home, head over and download our free PDF guide, Top Tips for Homebuyers!
Don’t forget to take a gander at our Resource Links List Page before you leave! If you did not know this, SPS Inspections is an active contributor to several real estate industry forums and blogs! Make sure to head over to our home inspection resource links list to find out where!