Mistakes to Avoid When Purchasing a Home

Real Estate Broker/Owner with Sandra Nickel REALTORS

Buying a house is a HUGE decision, but once you have made it, it is easy to get caught up in the excitement of choosing your new home. Do not let that excitement overshadow common sense. Do your homework and be sure you know what you are doing so that you can avoid costly mistakes. Also, take advantage of the expertise of an experienced Realtor like Sandra Nickel and allow her to guide you through the process.  Here are some common home buying mistakes that you will want to avoid:

  • Falling in love with a photo. Don’t do it. Pictures are worth a thousand words, but they do not tell you everything! Keep in mind that online real estate tools are great and keep improving. And home sellers work hard to show their home in the best possible way to impress potential buyers. So, if you see what you think is your dream house online, don’t get attached until you see it in person!

  • Starting your home search before getting pre-approved for a mortgage loan. You will be so disappointed if you find the perfect home but lose out on it because another buyer with a pre-approval was more enticing to the seller. Sellers want a sure thing and know that someone who is pre-approved, and knows how much they can afford, will likely have no problems obtaining a mortgage loan. Five Things You Need to Be Pre-Approved for a Mortgage

  • Neglecting to budget for home maintenance. If you are going to be a first-time homeowner, you might not realize how expensive a house can be. With furnishing, decorating, landscaping and maintenance you can spend a big chunk of change. That doesn’t even take into account repairs you may need to make. So, keep that in mind when creating a budget to determine how much house you can afford.

  • Going over budget. Being house poor is no fun. You will feel trapped in your home if you have to use too much of your income to pay for it. Be sure to set a budget for yourself that will allow you to maintain an enjoyable lifestyle…then stick to it!

  • Failing to negotiate. This is one area where having a Professional Realtor on your side will pay off. They are expert negotiators and understand the nuances of real estate transactions.  

  • Assuming a listing agent is your agent too. A listing agent will certainly assist you in purchasing a home they have listed, but remember, they represent the seller’s interest, not yours. Listing Agents and Selling Agents - What's the Difference?

  • Skipping the inspection. Big mistake! It is imperative that you hire an insured, professional inspector. They might discover a flaw in the home that could cost you a bundle down the road.

  • Buying the “biggest and best” house in the neighborhood. If you fall in love with a neighborhood, consider purchasing a smaller or more modest home because it will be more challenging to sell and get a good return on investment on the biggest, fanciest home.

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500!

Photo Credit: nerdwallet.com

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