Mistake #1 - Don't Think You Can't Afford It!
Many people for whom the dream of buying the home they wanted was thought out of reach are currently enjoying a new lifestyle in their own homes.
Buying a home is often the smartest financial decision you can ever make. Due to the overall increasing value of real estate values, each time you make a mortgage payment, your amount owed decreases while at the same time the value of your property has increased. This 'equity build-up' often can act as a cushion for
With the right strategies and the right people, you can buy a home, even with little money for a down payment or credit problems.
Mistake #2 - Don't Go it Alone! Hire a Buyer's Agent!
Buying property is complex and stressful; real estate transactions are increasingly complicated, while still often being the single biggest investment you make in your life. You do not want to go about this without a guide! Work with a buyer's agent who has an understanding both of the real estate business as a whole, and the local market of your area. Once hired, a buyer's agent is obligated to look out for your best interests. They will help navigate the tumultuous nature of home buying, while helping you find the best home, the best lender, and the best home inspector for you.
Speaking of home inspectors...
Mistake #3 - Don't Underbudget for a Home Inspection!
With all the expenses and deals in buying a house, there can be a temptation to use the home inspection as an area in which to save some money. Do not fall into this trap! Your home represents probably the most expensive purchase you make, and you want to be well-assured as to the condition of that purchase. A high-quality home inspector may cost a little more, but the confidence of their report can be invaluable. Do not allow yourself to skimp on this critical aspect of the home-buying process! You will thank yourself later!