Top Mistakes Buyers Make
1. Making an offer without being prequalified. It is even better to be preapproved! A preapproval will put you forward as a qualified buyer, giving you a better chance to reach an accepted offer with the seller. Take the time to speak with a lender. Their specific questions about income, debt, savings, etc will help determine a price range you can afford. Your credit will also help determine what loans you are elligible and there are some homes that cannot qualify for certain programs.
2. Limiting your search to Open Houses, ads and Internet Searches. Many homes listed on the Internet and in magazines have already sold or have accepted offers. It is in your best interest to contact a Realtor. They have up-to-date information and details that may not be available to the general public. They are the best source to help you find the home you want!
3. Choosing a Realtor who is not committed to forming a strong business relationship with you. Making a connection with the right Realtor is crucial. Choose a professional who is dedicated to serving your needs. Choose a Realtor that is in the business FULL-time.
4. Not considering long term needs. Generally speaking, when purchasing a home, it is better financially to plan on living there for a minimum of 3 years. It is important to look ahead 3-5 years to think if it will suit your needs at that time. And if you are transient and don't see yourself staying somewhere for more than 2 years, it might not even be in your best interest to purchase a home. And don't forget to consider resale potential of the home!