The Williamson Team’s Guide to Home Buying…
How to Buy Your Home the Easy Way!
Avoid the 10 most Common, Painful, and Frustrating
Mistakes Home Buyers Make!
Buying a home can be a hair-raising experience. It’s a roller coaster of emotions from finding the right place, to securing the loan and moving in. For most of us the home purchase is the largest investment we’ll ever make. Often the emotions of purchasing something so expensive and personal can cloud our sound business judgment.
Most home purchasers do little or no research before they invest their nest eggs. Doesn’t it make sense to become as completely informed as possible before you buy a home? This special report is designed to help you avoid 10 common and crucial mistakes. The right real estate and mortgage professional can help you make good sound business decisions based on your own personal circumstances.
1. Inspect, Inspect and Inspect – Have an inspection done, and go over the report with a fine-tooth comb. Make sure the report was done by a professional organization. For condo purchases go over the By-laws and Association By-Laws Fees. Don’t take anything for granted…inspect everything!
2. Imagine the new Property Vacant – Remember, your furnishings and decorations will be the ones filling this new home, not the sellers, so don’t be swayed by beautiful furniture…it leaves with the owner.
3. Income Plus Lifestyle Equals Mortgage Payment – Sit down with a loan professional and honestly discuss your income level and living expenses. Take into account future considerations, children, add-ons, amenities, and improvements etc. 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. With your agents help, you should be able to view enough properties to get a good overall perspective of your market and desires. When you find the right property all the legwork will be worth it.
5. Utilize Your Team – By aligning yourself with the right agent and mortgage broker, you’ll have an entire team at your disposal, each of them will work hand in hand for your benefit. Explore all the options before you sign.
6. Investigate – Check out all costs and expenses before you sign. Utilities, taxes, insurance, maintenance and homeowner association fees if applicable. Make sure all utilities are on (gas, electricity, and water) so you can inspect everything in working order. Ask lots of questions and be very detail conscious.
7. Have a Final Walk Through – Visit the property after all furnishings have been moved out to ensure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Often times, things are unintentionally overlooked that could have been spotted in a final walk through.
8. Plan For Flexibility – Closing dates are not written in stone. Allow 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 or circumstances are not uncommon in a real estate transaction.
9. If It’s Not In Writing, It Doesn’t Exist – All promises and discussions are to be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your professional keep an ongoing log in writing of all discussions, and get the seller’s written approval for all agreements.
10. Loyalty Breeds Loyalty – Be open and up-front with Realtor and Loan Agent. Hard feelings & disloyalty will cause headaches, 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.
