Buying a home is exciting yet can be a complex process. Some buyers become too overwhelmed, and end up making crucial mistakes. And oftentimes, mistakes in real estate are very costly.
Let's look at the top mistakes Charlotte NC homebuyers make and how to avoid them.
Not getting pre-approved
A mortgage pre-approval is simply a statement of your credit score. . It is released by a lender or bank after a loan officer has closely evaluated your finances. Getting pre-approved will determine how much money you can borrow, as well as how much you can pay monthly.
Getting pre-approved paves the way to transition to making an offer for the Charlotte, NC home you want. You can also narrow down your home search by tailoring it around the mortgage amount. Remember, though: if you’re pre-approved for a $150,000 loan, you should still be looking for a home that costs far less than that.
By getting pre-approved, you can avoid falling in love with a house you can't afford. It also shows the seller that you're serious about buying their home. Having a pre-approval will give you a competitive edge over other buyers who are not.
Relying too much on first impressions of a house
Some homes look pretty at first glance. However, one common mistake that homebuyers make is they become dazzled by the home's superficial details. They’ll find the home's decor so beautiful that they forget to thoroughly check the rest of the home. When that happens, more serious issues like structural integrity, plumbing, and wiring get overlooked. If you’re a buyer, you need to make sure you’ve examined those before you close the deal.
A home inspection will uncover costly repairs that you won't see after quickly viewing the house once. There are other things you need to consider beyond the property itself. This includes the proximity of the house to your workplace and the feel of the neighborhood.
Once the property has been purchased, it is almost impossible to get out of it. Although there are real estate firms that will sell a home at no extra cost if the buyer changes their mind about it, the minimum wait time before most firms will do so is at least a year.
Not seeking advice from a REALTOR.
Homebuying is something you should be able to get right on your first try. Or else, it will not only be a waste of time and effort but also money.
Mistakes can simply be avoided by hiring an expert in the field—someone who knows the area and can professionally guide you throughout the process. The best realtors are people who know the dynamics and the pros and cons of their local real estate. Hire one, and you'll no doubt get that dream home fast and hassle-free!
To get it right in no time, you need a top real estate agent in Charlotte, NC. Nancy Braun's real estate firm 'Showcase Realty' can get it right for you.
Showcase Realty was built on the foundation of passion, skills, and years of practice in real estate. Its founder, Nancy Braun, has been a resident of North Carolina for over 20 years. She discovered her love for real estate after her move to the state. To enjoy cutting-edge service and find the best home in Charlotte NC, give Showcase Realty a call today!