Six Mistakes To Avoid When Buying a Home

Hands House
Buying a home is a large financial investment. It’s important to make sound decisions when making this type of purchase. Here are six tips to follow when buying a home:

1. Don’t Get Too Attached
When looking at homes, you may find one you think is the “dream home”. Do not become too attached until negotiations and inspections are over. You may have to move onto looking for another home. Keep an open mind and remember that you will find another “dream home”.

2. Don’t Skip Inspections
Even if the home is new it should be inspected. The investment in a whole-house inspection is definitely worth the money.

3. Too Many Contingencies
If you place too many contingencies into your offer, the sellers might find your requests unacceptable and move on to another buyer’s offer.

4. Get Everything in Writing
Be sure everything is in writing. If the home sellers are going to include their washer and dryer with the sale, make sure that is in writing so you are not disappointed when you move into the home.

5. Keep To Your Budget
Get pre-approved for a mortgage and you will see what your limit will be for a home purchase. Prepare a monthly budget and be sure to include a mortgage payment, taxes, utilities and insurance. Don’t forget added costs such as moving expenses and home-maintenance costs.

6. Plan on Staying in Your Home
When you buy a home you need to plan to stay there to build equity in your investment.