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7 home buying mistakes to avoid | Real Estate

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7 home buying mistakes to avoid
Real Estate
7 home buying mistakes to avoid

When it comes time to buy a home, it is easy to get caught up in all the excitement and end up making some mistakes along the way. With such a major investment at stake, you really need to take time to make sure that everything is done properly, unless you want to be left regretting your purchase decision for years to come. Here are some of the most common mistakes people make when buying a home:

1.      The real estate agent – The real estate world is one that is super competitive, with many agents chasing a limited number of clients. This is especially true in larger markets like Atlanta, where they will all promise you the world, but not all will be able to deliver. Do some proper due diligence and look for referrals before you sign on the dotted line with one real estate agent over the rest.

2.      Pre-approval – You wouldn’t dream of heading to the supermarket and filling up your cart without knowing how much money you had to spend first, yet that is essentially what people will do when homebuying. Don’t make the mistake of falling in love with your dream home, only to find that no-one will give you a loan that comes close to matching what you need.

3.      Paying attention to budget – People who do play it smart and get pre-approval first can still end up making a huge mistake. Just because you got approved for a half million dollars doesn’t mean that you have to spend all of it. You are going to have property taxes, association fees, utilities, and a ton of maintenance fees that will come in on top of that mortgage payment. Purchase a home that fits your specific needs and budget.

4.      Listening to the wrong people – Give anyone a chance and they will be more than happy to give you their two cents worth about buying a home. There will be family that have lived in Atlanta for years and who believe they know every neighborhood intimately. Maybe you have a friends who was a real estate agent for 5 minutes. Take their opinion for what it’s worth, but always listen to what the professionals have to say, first and foremost.

5.      No Inspection – A house that may look great to the naked eye might very well be hiding a catalog of horrors that could end up being very costly in the future. A home inspection is an absolute must before you sign on the dotted line.

6.      Contingency issues – While inspections will offer you a good level of protection, you might also consider adding a couple of contingencies to the sales that will protect you a little more. Adding too many, though, might scare off the seller, so be sure to keep it realistic.

7.      Tunnel vision – You will probably find one home that you really love, but that doesn’t mean you should stop looking completely. Rejection happens in real estate, and it can hurt if you have all of your eggs loaded into one basket.

For other great home buying tips to go www.atlhomegroup.com or call (678) 835-8792.

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