Great advice courtesy of:
Amanda S. Davidson
Amanda Davidson Real Estate Group
Broker - Owner
Licensed in VA and DC
Even though she is back east this advice is universal.
Home Buyer Pitfalls – Part 1
Buying a home is one of, if not the biggest investment most people make during their lifetime. It can be a process with many unknowns because the majority of home buyers purchase between 1 and 4 homes throughout their lives. Planning ahead and preparing for your home purchase will save you a lot of time and stress. Emotional mistakes are common among home buyers because they let feelings cloud their judgment. Buyers shouldn't beat themselves up for getting emotional though, buying a home is a big deal! That said avoiding these pitfalls can save you a lot of time and a lot of stress.
Not Using A Realtor®
Sure, it's possible to buy a home without the guidance of a professional real estate agent but, stop and think about how much time and stress a good agent can save you. A top agent will take the time to consult with you and learn about your wants and needs. They can sift through listings, make appointments for the homes you’re interested in, and when you find the right home pull comparable past sales to guide you on an offer. Then the negotiations begin – most people don’t negotiate every day and it’s an art form. You need someone who is experienced in negotiation and who is capable of bringing parties together for a win-win outcome. Real estate agents also can help navigate a complex purchase contract and all the addendums that come with it. With most buyers purchasing just a handful of homes in a lifetime it’s impossible to be an expert and know all the ins and outs. An experienced agent represents 1,000’s of buyers and sellers throughout their career, you need their expertise serving you from start to finish.
Not Getting Pre-Approved
Most home buyers start their search online and after seeing homes that are appealing it’s very common to want to jump in the car and go tour them but, not so fast – are you pre-approved? If the answer is no save yourself the heartache of seeing homes and then finding out you can’t qualify for them or worse, having to wait to get your pre-approval and watching the home of your dreams go under contract in the meantime. Getting pre-approved is the first step you’ll want to accomplish once you commit to wanting to purchase a home.
Not Considering The Resale Value Of Your Home
You've just started the home buying process and the thought of selling probably hasn’t even crossed your mind. Many buyers might think they’ll live in their home forever but, life changes and you never know when a job transfer could come up or if a change just needs to be made to meet your needs. When the time comes to put your house on the market you need to ask yourself will your home be easy or difficult to sell? Just because you love the pink bathroom doesn’t mean the next buyer will. While you're house hunting consult with you agent and take into account what the preferences of the typical homebuyer are. Resale is always something to keep in mind when purchasing a home.
Stay tuned next week for part 2 of home buyer pitfalls, we’ll go over 3 more topics to keep in mind when considering purchasing a home.
Have questions about the home buying process? Reach out to us – we are always happy to help. Amanda Davidson Real Estate Group 703-988-3151.