1. Not doing your research. Knowledge is control. Great information is accessible on the Internet. There is no excuse for entering the market unprepared.
2. Trying to make a shrewd venture. People need to buy based on what fits their family. Don’t try to guess what will happen to the market.
3. Choosing poor surroundings. Even within a neighborhood, location matters. Is it on the busiest street? Is there a shopping center out the back window?
4. Overlooking a low-grade floor plan for an eye-catching exterior. It may have attractive curb appeal, but you don’t live on the lawn. No matter how nice-looking the exterior, you need an inhabitable home.
5. Overlooking how the residence will function for your family. How do you really live? Do you really need a formal dining room and living room? Would you be better-off with an eat-in kitchen and a great room and a den to use as a home office? The house only needs to fit one family: yours.
6. Not having a certified home inspection by the most thorough, nitpicky inspector you can find. This is not the time for surprises. Get a check from a competent, respected professional.
7. Not checking out the builder’s character on a new home. Talk to three or four people who live in the builder’s homes and see what they have to speak. If one builder did all the houses in a surrounding area, talk to the residents and get their input. It’s also a great way to see what your neighbors would be like.
8. Not getting what you desire because you’re narrow-minded. This is a big decision. You need time. Impatient decisions can lead to mistakes.
9. Waiting for an improved market and interest rates. The rear view mirror is always clearer than the windshield.
10. Not buying at all. If you can pay for a home and you don’t make that purchase, you’ll lose the advantage of tax deductions, building home equity and the appreciation in value.
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