Having seen and dealt with every type of home buying situation there is, the Kalamaras Group is a great asset to have when moving to a new home. Not only do we have thorough knowledge of your new neighborhood, but we also will research and schedule home showings for you, so you have one less thing to worry about!
Buying a home is one of the biggest purchases of your life and you want to be cautious that you don’t make any mistakes that you’ll regret later on. Here are the top four most common mistakes made when buying a home, along with tips on how to prevent yourself from doing them or how to recover if you have already made them.
Mistake #1: Not Getting Pre-Approved
The biggest mistake made by homebuyers and is the first thing you should do if you plan on buying a new home! By getting pre-approved, you’ll be able to search for homes that affordable for you, while also putting you in a strong negotiation position when you make an offer.
Mistake #2: Not Using a Qualified Agent
A qualified buyer's agent will identify your needs and give you market knowledge, access to comps and sales information, professional negotiation, knowledge of industry standards, legalities and writing a contract, and more. It’s never too late to get an agent, even if you’re already at contract, they can help with all the legal and negotiation aspects.
Mistake #3: Not Getting a Thorough Inspection
Getting a thorough inspection is the only way you’ll know you have real knowledge about the house. Hire a licensed home inspector. They take the emotion out of inspecting a home and give you a real, critique about the home you’re thinking to purchase. If you didn’t hire a home inspector, try to get a good home warranty in case any issues do arise in the future.
Mistake #4: Focusing on Wants, Not Needs
This mistake is usually made by first-time homebuyers, but can happen to even the most experienced homeowner. Make a list of must-haves and refer to it when you’re house hunting. Make sure it is a list of NEEDS not WANTS. If you’re in negotiations and realize you made this mistake, try using provisions of contract to either get out of the deal or fix the issues before you close.
House hunting can be an exciting but anxious time. Educating and preparing yourself about buying your next home is the best way to calm those nerves. And to do that, you don't have to look any further.
You may be wondering if now is a good time to buy a home...or if interest rates are projected to rise or fall. Our free eGuide will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home. Check it out, and feel free to get in touch if you have any questions.
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