5 Mistakes New Homebuyers Make & How To Avoid Them
Looking to buy a new home? Let us help you out!
Buying a new home is an exciting, and often stressful, process. New homebuyers are faced with tons of decisions and questions with can lead to many mistakes. Let us help you avoid some of these mistakes before you make them! Our friends at Miranda
Real Estate Group have helped us compile a list of the 5 Mistakes to Avoid When Purchasing a New Home.
Take a look at the 5 Mistakes New Homebuyers Make:
Limiting Your Search
Limiting your search for a home is a common mistake that new homebuyers often make. Limiting your search to open houses, ads and the Internet can really be a poor choice when looking for a new home. Instead, focus on finding any resource where this information can be provided. Homes listed in magazines and the Internet have often already been sold. Your best bet is to contact a real estate agent directly, as they have up-to-date information about homes that is not open to the public.
The "Perfect" Home Syndrome
A common mistake new homebuyers make is thinking that there is only ONE perfect home out there for them. This is such a common mistake because when people think of buying a home, they think of their dream home. They want it to be exactly how they have always envisioned it. Instead, it's important to keep an open mind. Buying a home should be a process of elimination. New properties are constantly put up on the market, so you should have an open mind to all the possibilities that will arise.
Tip: Have your real estate agent do a comparative market analysis that will compare similar homes that have been sold or are still for sale. This will help you to find similar homes that meet your needs.
Not Choosing the RIGHT Agent
Choosing the right real estate agent for you is so crucial when buying a new home. You want to develop a strong relationship built on trust with your agent. Choose an agent who is dedicated to serving your needs, and your needs only. They need to be focused on your needs throughout the entire process, from before, during and after the sale. Take the time to get to know the agent, and look at their reviews. You don't need to settle on the first agent you come across. You're allowed to be picky in the choosing process. After all, making the choice of your new home is an important one - you want an agent who will guide you along in this life changing choice.
Not Knowing ALL Costs
New homebuyers often make the mistake of not knowing all of the costs involved in the homebuying process. The best way to avoid it is to ask questions from the start. During the buying process, ask your real estate agent early on for an estimate of closing costs. Make sure to take insurance and lawyer fees into consideration as well. Pre-pay responsibilities also need to be thought of. Make sure to examine your settlement statement carefully prior to closing. You want to be 100% positive about your costs, so you aren't blindsided. Buying a home can be stressful as it is - make sure that the costs are handled with care.
Being Afraid to Ask
Asking questions is key when buying a new home. Once you even begin to start looking for a home, you should write down all questions and concerns you may have. Consider all factors ranging from crime rates, to school locations to neighbors. You don't want to be blindsided after your purchase by something you could have avoided. Don't be shy! Ask the questions that you need to know. Being diligent will only save you stress in the long run. You want to be confident about your decisions, so ask, ask, ask!
Looking for an agent? Consider Kathie Spangler!
Located at 21 Bay Street in Glens Falls, Kathie is committed to exceeding all of your expectations.
As she says, her buyers and sellers are "precious cargo"!
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