5 Costly Mistakes Home Buyers Make

Avoid Home Buyer Mistakes

Mistake #1 Not knowing what they can afford before making an offer.

The best way to avoid this is to get pre-approved for a mortgage so you know exactly how much you can afford. Usually pre-approvals are free.  You can start by talking to your bank or reach out to your Real Estate agent and refer you to a mortgage specialist.

Mistake #2 Not knowing who the agent represents.

Unless an agent is working as your buyer representative, they represent the seller. Many people don’t realize this.  Service and knowledge are very important when buying a home.  It is important to know what services is the agent able to provide.

Mistake #3 Choosing the wrong mortgage.

A bad mortgage can cost you thousands in taxes and interest. Consult an accountant before you choose your mortgage.  Looking to get a low interest rate? Creditors are looking for reliable buyers with good source of income and credit history. Read my article on Credit Scores!

Mistake #4 Not finding problems with the home before buying it.

You should always have a professional inspector look at the home before buying it, otherwise you could be looking at huge repair costs later on. Read this guide to avoiding a money pit.

Mistake #5 Not understanding how their credit can impact their ability to purchase or refinance a home.

Get a mortgage professional to help you go over and prepare your credit file before you buy a home.

Be a smart Home Buyer! Prepare and protect yourself and your family!

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