Mistakes New Home Buyers MakeOctober 27, 2016
New home buyers often make mistakes, which can take the excitement out of the home shopping experience. Here are a few of the most common mistakes to avoid when shopping for a new home.
Not Ready to Compete in an All-Cash Market
While some markets don’t support all-cash offers happening very often, other markets may see these offers quite often. If all-cash offers are common in your market, it’s important to prepare for this type of offer. Becoming financially prepared will put you in a position to compete with these offers.
Trusting Online Mortgage Information
You should take time to research mortgage options online, but you cannot put too much stock in what you read on the internet. You may be better off checking with the city or county to find out if you qualify for an FHA loan or VA loan of any sort. It’s also important to understand basic mortgage terms to avoid a bad experience.
Skipping the Home Inspection
There’s nothing worse than realizing you made a huge mistake with a home purchase, after it’s too late. A home inspection will give you a better idea of what you’re getting into before you sign on the dotted line.
Avoid these mistakes and your home buying experience will be much better.