Whether you’re a first-time homebuyer or you’re buying your next home, it’s easy to mistakes.
The house buying process can be tricky to navigate. You might not know you’re making a mistake until it’s too late. However, too many mistakes—or one big mistake—can be costly.
How do you know you’re about to make a mistake? Here’s what you need to know about some of the most common home-buying mistakes.
1. Shopping for More Than You Can Afford
For a first time home buyer, your first house might not be your dream house.
Shop for a home you’ll love, but understand your budget before you start looking. Deciding on a house that’s out of your price range can cause you to struggle when it’s time to pay the monthly mortgage.
If you can’t pay the mortgage, your lender forecloses on your house. Your credit score suffers. You’ll end up without a house and a credit report that keeps you from buying another home.
Stick to your budget and make it easier to enjoy your new house.
2. Skipping the Inspection
If a house looks too good to be true, it might be.
Never skip the home inspection process. While sellers must disclose significant issues with a house, a third-party inspector might uncover problems the sellers haven’t yet noticed.
A house inspection is a minor expense compared to buying a home with a significant problem you didn’t know about before closing. Once it’s your house, it’s your problem to repair.
3. Forgetting Additional Expenses
The sale price (or your final accepted offer) is not the final cost of your new house.
Buying a home involves additional expenses beyond the price of the house. When budgeting your downpayment amount and monthly mortgage payments, don’t make the mistake of forgetting about:
- property taxes
- homeowners insurance
- legal fees
- HOA fees
- renovation costs
You also have to move! Be sure you factor in your moving expenses when budgeting for your new house.
4. Not Working With the Right Agent
You’ll enjoy your home buying experience more when you work with an agent to help you along the way. A real estate agent is the best answer to home buying made easy.
Be sure you choose a buyer’s agent when you begin your search for a new home. A buyer’s agent in your corner is a valuable resource through the home buying process.
Your agent should help you:
- Find a neighborhood that meets your needs
- Communicate with the seller’s agent
- Negotiate your offer
- Walk you through the paperwork
You’ll appreciate how easy is it to buy a house when you work with the right buyer’s agent.
We’ll Help You Avoid Common Home-Buying Mistakes!
When you’re ready to buy a home in Tennessee, make sure you avoid these common home-buying mistakes. Work with the best buyer’s agent in the area!
Premier Buyer’s Agent ranks in the Top 1% of all buyer agents in the USA. Schedule a free consultation with us so we can help get you into your next home—mistake-free!