Amanda and I have been selling real estate full time in Fort Wayne for over 5 years now. We haven't seen it all, but we've seen a lot!
One of the things we've seen is buyers making mistakes when purchasing their new home. Here's a list of 10 mistakes buyers make when purchasing a home.
10. Waiting to pull the trigger. You've found the perfect home in the right price range, but you get cold feet. You wait a day or two to think about it, and then another buyer swoops in and does pull the trigger.
9. Pulling the trigger too quickly. You aren't 100% sure on a home you've seen, but you don't want somebody else to get it.
8. Settling. Buying a home is one of the biggest investments you'll make in your life. You want to be 1,000% sure that the home you are purchasing is exactly what you want and need.
7. Not doing your homework on the area. It is YOUR job as a buyer to do your homework on the area where you're purchasing a home. We advise all of our buyers to look up crime rates in an area. We also advice our buyers to do their homework on the school districts as well.
6. Not being aware of the home's surroundings. When you're viewing a home, look around. Are there train tracks across the street? Are there power lines directly behind the home? Is there a landfill a block away?
5. Not looking into the future. If you're buying a home and you know that within 5-7 years you are going to be selling, make sure you buy something that is easy to sell down the road. That 8 bedroom insane asylum converted into a home may appeal to you, but it won't to many others.
4. Taking advice from everybody that you know. This is a pet peeve of mine. There is nothing worse for a buyer than getting advice from mom, dad, sis, cousin, Facebook friend, hairdresser, and their Uncle Vinny that sold real estate in Vegas back in the boom and dropped out of real estate as soon as the boom ended. No. I'm not bitter about this topic. Why do you ask???
3. Calling all the listing agents of the homes you are interested in. You need ONE agent that you can develop a relationship with. You need ONE agent that will partner up with you and help you find what you need, and walk you through the entire transaction. Calling multiple agents just mucks up the water. That's not good for YOU.
2. Not having a home inspection. I don't care if the home is brand new. I don't care if your Cousin Bob is a general contractor and didn't see anything "bad" during the showing. Get a home inspection. An inspector is going to see things that we can't with our bare eyes.
1. Buying more than you can afford. Congratulations! You're pre-approved for $500,000! Now get out there and buy that $500,000 home. Then, shortly after closing, you realize that you're broke. Heck, you can't even afford nice furniture for your big fancy home. You can't afford to take your kids to a movie, your wife to a nice dinner, or me golfing. Don't buy more than you can comfortably afford. Yes, us Realtor folk make more money when you buy a higher priced home, but this Realtor doesn't want to see his buyers broke.
So there you have it. My list of 10 mistakes buyers make when purchasing a home.
If you are considering buying a home in the Fort Wayne area, Amanda and I would love the opportunity to help you. We'll make sure that you don't make any of these mistakes!
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