Mistakes Homebuyers Commonly Make

Don’t make these common mistakes that home buyers make.

There’s nothing quite like buying a property. Whether you’re looking for your first or fifth home, it is an exciting process. As a home buyer, you hope that the hunt and transaction will go smoothly. To help it do just that, we’ve narrowed down common mistakes that home buyers make – no matter if they are new to real estate or a seasoned buyer.

Mistake: Not getting pre-approved for a mortgage

Chances are good you’re going to need a mortgage to buy a property, so get a lender to agree to let you borrow before you start home shopping. Many buyers get too excited with the process of finding their property that they neglect this important step of proving to the seller that you can afford the house. It also helps you to understand your budget, meaning that you only look at homes that you can afford.

Mistake: Not thinking about traffic

Most people want to be in an area close to where they work. However, they often fail to think about rush hour traffic and how this can impact their commute. So, what they thought was a quick 30-minute drive turns out to be over an hour. This can leave a sour taste in your mouth about the purchase that you were once over the moon about.

Mistake: Not looking at the total cost of homeownership

First-time buyers frequently make the mistake of assuming a home’s affordable if the monthly mortgage is in their price range. However, homeownership comes with many additional costs. Seasoned home buyers may upsize their property, forgetting that their bills and maintenance may result in more cash needed.

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.