When you are looking to buy a home, there isn’t wiggle room to forget or overlook any part of the process. Here are a few common mistakes that can easily be avoided.
Create a budget
Make sure before even beginning the home buying process, you are aware of how much you are able to spend, how much you plan on saving, and your credit score. You never want to put yourself in a position where you are unable to spend what you thought you could. Set a budget for yourself and have a goal for saving.
Underestimating costs
Think beyond the down payment. There are going to be a lot of different factors you will need to take into account when it comes to saving—if something in the home needs repair, if you plan on painting, if you have any extra fees based on location. These are questions to think about, and come up with a reasonable solution, too, so you don’t have to panic about it later.
What you need vs. what you want
Make a list of what you must have as a part of your future home and what’s more of a “want.” You won’t always be able to hit every aspect on your list of wants, but make sure things that are not flexible once you buy, like location, are things you are satisfied with. If you want a deck and your home lacks one, that’s always something you can add on in the future.
What’s the neighborhood like
Its super important to take your lifestyle into account when it comes to the atmosphere in your neighborhood. Do you walk your dog? Does the neighborhood have sidewalks? Dog friendly parks nearby? Do you tend to enjoy rural or suburban areas more? Don’t settle in an area that you are not comfortable with.
Honesty with your agent
Sometimes it’s hard to lay everything out about your personal life in terms of needs and financial stability—which is why it important to be honest with your agent. Don’t try and overestimate your budget, speak up if you don’t like something, and don’t settle. This is one of the most important decisions of your life. If you are not completely honest, you are going to struggle or have to deal with the consequences somewhere down the road.
Going in without backup
Agents exist for a reason– they have access and experience in buying homes that you probably do not. You are more likely than not going to be extremely stressed–which can lead to rash decisions. Let an agent give you peace of mind, walk you through each step of the home buying process, and make your life a lot easier.