If you’re shopping around for your first home, you’re probably realizing there’s a lot more involved in the process than you initially thought. Although you’ll likely still make a few mistakes along the way, it’s best to educate yourself on some of the most common mistakes new homebuyers make and know what to look out for to make as few mistakes as possible.
And if you’re that worried about making a mistake, Cooke Realty Partners is only a call away to answer any questions you might have about home buying.
Not Knowing What You Can Afford
Just because the payment sounds doable doesn’t mean that it is in reality. Before you even shop around, create a monthly budget to figure out a realistic number. Take into consideration yearly expenses as well to avoid being short on money. Also, don’t forgetting extra expenses like property taxes that you aren’t used to paying for.
Not Considering Renting
Owning a home doesn’t make you any better than a renter. Before buying home, take into consideration how long you plan to live there. If you’re planning to leave quickly, your timeframe may be restricted by being unable to sell your home right away. As a renter, you can pick up and leave (within reason) any time you want.
Refusing an Inspection
Not knowing the kind of shape your house is in may cause you to find yourself more than you planned to fix it up. Not every problem is visible, so don’t trust your eye only. Let an expert inspect the house and give you confidence in the home you plan to buy.
Love at First Sight
Sellers know what people want to see in a home. Think of them like con artists. Since cheap upgrades can deceive you into paying more than the home is worth, train your eye to see a house for what it is.
The same applies to an ugly house. Train your eye. Never turn down a house because of a paint color, wallpaper, or landscaping. If it’s not part of the house’s structure, it can be changed. Plus you’ll end up saving more money by doing the upgrades by yourself than if you’d bought a house freshly upgraded.
If you’re picking your house because it’s located in a small area of town, consider that area’s projected growth. Murfreesboro’s growth doesn’t appear to be slowing down. Are you willing to take the chance that your particular area will remain untouched? Other things to consider are the value of homes around you and the likelihood of your street becoming a major road.
Also consider your own future. Will you have kids? What kinds of schools are nearby? How far is the nearest grocery store? The more you think about, the more satisfied you’ll be with your decision.
Forgetting to Research the Neighborhood
Your home might seem safe during the day, but how does it compare at night? Introduce yourself to the neighbors and find out what kind of community you’d be moving into. If you’re afraid to talk to the neighbors, that might be a sign that neighborhood isn’t right for you.
Not Visiting Multiple Times
Get to know what the house looks like at different times of the day. Will you still love it as much after seeing it for the third time? When it comes to buying a home, there’s no turning back. It’s the buyer’s remorse that won’t have a 30-day return policy. Make sure you love it.
Looking to Do It Right the First Time?
Let Cooke Realty Partners lead the way in your home buying process. Call us today at 615- 574-7359 with any questions you have or to get a free home valuation report.