Are you considering buying a home or possibly in the midst of a home search? If so, you likely have learned that there are many steps to the house hunting and buying process. Coldwell Banker Select Professionals is providing the following list of common mistakes buyers make, so please read carefully and avoid these pitfalls.
- Forgetting about resale: You may love a particular home, but think twice if it is the nicest one in the neighborhood. You will have difficulty getting a good resale since the surrounding lower home values will weaken yours.
- Going at it alone: Although you may be tempted to handle a home purchase on your own, you will most likely regret it. Buying a home is a very complex process involving many steps and a variety of people. There are legal issues, inspections, and insurance and mortgage needs that must be addressed. You will be thankful for involving a realtor who handles a multitude of transactions a year and knows about the hidden roadblocks so you can safely navigate around them.
- Changing your financial outlook before closing: When you've found a home you want to buy, you may be tempted to make some big purchases to outfit it. After your loan application has been completed, do not buy anything major (large appliances, electronics, a car) on credit or with a credit card. Alterations in your credit rations could jeopardize your loan and leave scrambling at the last minute.
- Putting off getting pre-approved: So you've found a house you really like and want to put in an offer. Since you haven't been pre-approved yet, you rush to get this accomplished. In the meantime, another party puts in an offer that is accepted, and you've missed out on a great opportunity. To avoid this, you're first step-even before going on any showings-should be speaking with a lender and determining what you qualify for.
- Making snap decisions: You may fall in love with a house the second you see it, but do your best to view the situation objectively. Does the home satisfy the needs of your family and will the mortgage fit comfortably within your budget? Make sure you have a thorough list of your needs and wants before you start shopping...preparation is the key to success!
Please contact Coldwell Banker Select Professionals if your looking for personal service and have questions regarding buying a home in Lancaster PA, York PA, Harrisburg PA, Lebanon PA, Hershey PA and Cumberland County. Be sure to connect with one of our agents at www.cbselectpros.com/. We have local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA. Get started on your search today!