Buying a home can be an overwhelming experience. If you feel overwhelmed, trust us, you are not alone. Real Estate is an emotional transaction, it’s to be expected! There is a lot to take into consideration when buying a home. Prep may include getting pre-approved, settling your finances & finding an agent- all before you even get to closing! Corken and Company is here to make this process easier for you. We have outlined the four common homebuyer mistakes that buyers make, according to our network of real estate experts.
Overextending:
Work within your pre-approved budget. Be realistic and plan out how much you spend in a month, and how much you are comfortable putting towards a mortgage. Remember, if you are not putting down 20% or more you will have additional costs to factor into your monthly payment like mortgage insurance. Make sure you have a clear understanding of what your mortgage will include so you aren’t blind sighted when the first bill arrives.
Overbidding:
Leave your emotions at the door. It’s understandable that when you find a home that gives you butterflies & you want to act fast. Many times, that’s the message homebuyers are told by family and friends. Remember to be patient. More homes will come on the market. There may even be another home will come along that gives you that same warm and fuzzy feeling.
Not working with a real estate agent:
When you’re buying a home, whether it’s your first or your third, it’s important to have a quality real estate agent in your corner. Real estate agents will help you get the best price for your home, and will negotiate the best offer on the home of your dreams. Check out one of our blogs about all the benefits to working with an agent!
Going out of order:
Many homebuyers, especially those not yet working with an agent, are unaware of the need to get pre-approved before purchasing a home. It’s important to first find a real estate agent, not only will they help guide you so the entire homebuying process is easier, but they are referral machines. Second, your agent will help you schedule tours, set-up appointments and take you through open houses all within your pre-approved price point.
We believe in “Real Estate Solutions Without Limits”. The home buying process can feel overwhelming, but with our help it can instead be an enjoyable experience for all! Contact us today to learn more.
