Plenty of articles already on the web teach you the steps needed to purchase a home. So much information about so many different ideas is circulating throughout the Internet, but it’s nearly impossible to find the best of these ideas.
The paragraphs below have pulled a lot of information together from the best sources covering common mistakes made when purchasing a new home. Remember these tips while searching for your new home, and you will avoid making some costly errors.
There’s only one “best deal” and it’s impossible for you and the seller to get this deal, so don’t use the same agent! Using one agent pulls him two directions and is unfair to either party. Realty is a buyer’s market, and you may be able to request the agent to receive a lower commission because of this. If not, then your best option is to find an alternative agent to help with your purchase.
It’s always good to start the home-buying process with a list of requirements/preferences, but don’t expect to find a home with every single attribute.
The market is give-and-take, and sometimes you have to give up a few of your preferences to buy a home within city limits or under a certain budget. Weigh the importance of each item on your list, and make the best choice when the time is right. Don’t turn down every home because you can’t find “the perfect house” because someone else will likely buy it soon.
Expand your search as far as possible and find a map with all of the local towns, attractions, and schools to help guide you. Many people focus their search in too small of an area and they wind up missing out on great opportunities that were just next door.
Speak with your agent about nearby locations that may have much better deals. The closer you are to popular locations or the epicenter of a city, the higher you will pay for your home.
Have your contract read thoroughly by anyone with legal experience to guarantee you aren’t signing anything you will regret later. The process should be extremely transparent and forward, but there are some deals that are just “too good to be true.” If you are unsure about something you have read in your contractual agreement, ask someone with a little more experience to interpret it for you before you sign.
This is a buyer’s market, but an insulting offer to the seller may cause you to lose the opportunity before negotiations begin! Start reasonably and work out a deal where all parties involved walk away with smiles. Your agent should help with the negotiations. Starting the deal off on the wrong foot is a big mistake new home buyers often make.
While you are out buying your new home, remember the tips you have read above and avoid making the same mistakes. This can be an extremely exciting and rewarding time in your life, but a poor decision is all it takes to lose. Follow this advice, and you’re guaranteed to win.
