The 10 Most Common Home Buyer Mistakes

Buying a home can be a hair-raising experience. You will experience a roller coaster of emotions while finding the right place, securing the loan and finally moving in. For most of us, the home purchase is the largest investment we've ever considered. The emotions of purchasing something so expensive and personal can often cloud our business judgment. Most home purchasers do little or no research before they invest their nest egg. Doesn't it make sense to become as completely informed as possible before you buy your next home? The right real estate professional can help you make good sound business decisions based on your personal situation.

Because of the Boom market, everyone wanted to get into real estate! As a result, 80% of all Realtors in the business today have LESS than 4 years experience, and it's doubtful that they sold many homes in those past 4 years, due to the declined market. BE SURE to work with an agent that has Experience! Rick and Susan have a combined 37 YEARS of Real Estate Experience. From New Construction and Appraising, to Marketing sellers and Designated Buyer Agency, they have a well rounded list of experience!

1. Do a home Inspection - Make sure to hire a professional home inspector!

2. Imagine the Property Vacant - Your furnishings and decorations will be the ones filling this new residence. Don't be swayed by beautiful furniture; it leaves with the owner.

3. Income + Lifestyle = Mortgage Payment - Consider your income level and living expenses. Take into account future considerations, children, add-ons, amenities, and fix-ups. Your dream home is certainly worth a sacrifice but don't mortgage your entire future.

4. View Several Homes - See at least 7-10 properties. Don't move too slowly, but don't move on the first property you see. You should view enough properties to get a good overall perspective of the home market. When you find the right property, all the legwork will be worth it. I always say, “you won’t know the right home until you’ve seen enough wrong ones”.

5. Utilize Your Team - by aligning yourself with the right real estate professional, you will have an entire team at your disposal. They should have a team of professionals from attorneys & lenders to home inspectors and insurance agents. Each of them should work hand in hand for your benefit.

6. Be Columbo - Check out all costs and expenses before you sign. Utilities, taxes, insurance, maintenance and homeowner dues if applicable. Make sure call utilities (gas, electricity, and water) are on during your walk-through so you can inspect everything in working order. Ask lots of questions and be very detail conscious.

7. Do a Final Walk-Through - Visit the property after all furnishings have been moved out to be sure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Things that could have been spotted in a final walk-through are often unintentionally overlooked.

8. Plan For Flexibility - Closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the sellers need a little more time to conclude the final arrangements, don't let these delays upset or frustrate you. These types of circumstances are very common in a real estate transaction.

9. If it's Not In Writing, It Doesn't Exist - All promises and discussions should be in writing. Don't make any assumptions or believe any assurances. Even the best intentions can be misinterpreted.

10. Loyalty Breeds Loyalty - Be open, honest and up front with your team. Hard feelings and disloyalty will cause head aches, delays or may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning and your home purchase will be a pleasing and memorable experience.