5 Costly Mistakes you can avoid
Mistake #1 Not knowing what you can afford before making an offer.The best way to avoid this is to get pre-approved for a mortgage so you know exactly how much you can afford or what steps you need to take to be prepared to be a homeowner.
Mistake #2 Not knowing who the agent represents.Unless an agent is working as your buyer representative, they represent the seller. Many people don't realize this.
Mistake #3 Choosing the wrong mortgage.A bad mortgage can cost you thousands in taxes and interest. Consult with a accountant and lawyer to ensure your mortgage is structured in your best interest and you fully understand all terms and all conditions.
Mistake #4 Not finding problems with the home before buying it.It’s highly recommended to have a professional inspector inspect the home before buying it, otherwise you could be looking at huge repair costs later on.
Mistake #5 Not considering future expenses.Another mistake many home buyers make is not considering future expenses like property taxes, homeowner’s insurance, and maintenance costs. These expenses can add up quickly and can make your dream home unaffordable. To avoid this mistake, factor in all these expenses when determining your budget.
