How to handle common home buying worries.
Buying a home is a huge commitment, and it’s likely that it’ll be your biggest transaction ever. It’s only natural that homebuyers have fears going through the extensive and significant process. However, a lot of these problems swimming around inside your head could just be wasting your time and energy. Check out these top home buying fears and how to overcome them.
- Deposit Money
When you’re interested in a home, you need to put earnest money down to show you are serious about purchasing the property. It’s a fear that many buyers have – once you put that deposit down, you could easily lose that money if the sale doesn’t work out for one reason or another. However, with the right safeguards in place, it’s nearly impossible to lose your deposit. Work closely with your real estate agent to put the right contingencies in place. Pay close attention to the dates to ensure your contingencies don’t expire before you are finished closing on the house.
When renting, the landlord takes care of all the repairs and broken appliances. When you’re the homeowner, you need to face the issues and expenses yourself. There are a lot of costs involved with owning a home, from repairs to mowing the lawn to buying more furniture. However, this fear is a good and healthy fear. It forces serious future homeowners to work within their budget and plan accordingly.
- Structural Issues
Go into house hunting with the knowledge that there is no possible way to buy a perfect house. There is always going to be something wrong – even with new builds. Hiring a home inspector should alleviate these concerns, as he or she will be able to detail any problems with the house before you purchase it. Include a home inspection contingency in your purchase agreement so that if the inspection uncovers problems, you are not obligated to go forward with the sale.
Contact Dean Rathbun when you’re looking to secure the right mortgage for your needs. We work with your credit score and financial picture to ensure that you lock in the right home loan to land that house of your dreams. Give us a call to get started.