Top 10 Scary Homebuying Mistakes

1) Not Getting Pre-Approved by a Lender-Don't get your heart set on a certain neighborhood or type home until you have talked to a lender. Have you ever seen Property Virgins on HGTV? The host starts the show walking the homebuyers down a street in their favorite neighborhood. She asks them how much they think homes in the area cost and they are usually WAY more expensive than they thought! We all have Champagne taste right? A lender will look at your income, assets, debts and credit to determine a monthly payment you can afford.

2) Not thinking Long Term-If you fall in love with a home but it sits next to the electrical plant or has a major road next to it you might want to think again. This is a huge investment, you want to make sure future buyers will want to buy this home too.

3)Deciding Not to Buy-If you are waiting on the market to improve you could wait forever! If you have the finances and are ready to quit renting, now is the time to buy. Home ownership builds equity, gives you tax deductions and so many other benefits! 

4)Not Getting a Home Inspection-Even if it is a new home or looks perfect, get a home inspection.  It is better to know before closing that something is wrong or if not corrected could go wrong in the future.  An inspection is well worth the money!

5) Not Checking Out the Neighborhood-Before you buy drive the neighborhood at different times of the day, drive to work and back to check out the commute. See where the nearest grocery store or dry cleaners is. Nothing is worse than moving in a home and finding out your favorite store is miles away.

6) Buying the First Home You See-You can always come back to it after you have looked at 3 or 4 more in the area you like.  Shop, compare and make sure the home is not overpriced.

7) Buying a Foreclosure Without Completely Checking It Out-Lenders and government owned properties don't have to have a sellers disclosure as most states require.  Just because it is a great price does not mean it won't have problems.  Get an inspection and an estimate on any repairs. Just because you got a good deal on price doesn't mean you will make a fortune if the home has issues that cost you money!

8) Picking the Wrong Real Estate Agent-If you are with an agent who is not answering the phone or seems reluctant to take you out to see homes chances are they aren't the professional you want. Pick an agent whom is knowledgeable about the area you want to move to. If you have to drive over 20 miles from the agents office to see a home ,the agent probably does not know that area very well.

9) Not Agreeing With Your Significant Other-Sit down with the person you will be buying with, look through magazines or at homes online. Find out what each other likes and doesn't like before you go out.  Most important agree on a price range you want to stay in to make your payment affordable. This saves time for everyone involved.

10) Not Neogiating To Make the Deal Work-Don't walk away from a home over a couple thousand dollar difference. Usually the seller and buyer can meet in the middle. Each party wants to think they are getting something from the pot. Your agent can help negotiate the best deal for you!