Ten Easy-to-Avoid Mistakes When Buying a Home

#1 Not knowing your credit score. Buyers with better credit scores get better mortgage rates.

 

#2 Looking at homes before being pre-approved for a loan. You need to meet or talk with a lender first to understand the process and know what you can AFFORD. You may need to talk to couple to find the right loan officer that will take the time to explain the process.

 

#3 Spending all your savings to buy a home.  Keep yourself an cushion “emergency fund” for un expected costs personally or due to homeownership.

 

#4 Know your Conditions, Covenants and Restrictions, we also call these CC&Rs and to also know if there is an HOA and a fee.

 

#5 Not researching the neighborhood or area.  Make sure you are satisfied with location to amenities, schools, crime, driving time to work or any other item else that is important to you.

 

#6 Waiving the rights to all inspections.  It makes your offer more attractive to the seller but if a major repair would devastate your finances, it may not be worth it for you.

 

#7 Signing and not reading documents. Completely read and understand what you are signing. Contracts are a commitment, don’t get excited, be in a hurry and take 30 minutes to review and read.

 

#8 Not asking questions, it’s important to understand all facets of the home buying process, agency and home buying contracts. 

 

#9 Setting realistic housing goals and expectations.

 

#10 Not working with an experienced real estate professional that will represent your best interests.

Do your research and choose your buyer’s agent carefully who will go to work to achieve your real estate goals.

 

It’s a big decision, we know

We’re here to help.

 

Brandi Cook and Vikki Crossland

Meybohm Real Estate

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