1.
Not doing your homework. Enter the market well-prepared by researching
location, school district, deed restrictions and taxes.
2.
Trying to make a shrewd investment. Focus on finding the best place for
you and your family to live rather than trying to predict the real
estate market.
3. Choosing a poor location. Consider what part of town you would like to live in and avoid homes located on busy streets.
4.
Overlooking an inferior floor plan for an attractive exterior. Choose a
great floor plan over a great exterior because you'll spend far more
time inside the house than outside.
5.
Overlooking how the home will function for your family. Consider
features that are most important to your family and choose a home that
will meet those needs.
6.
Not having the home properly inspected when buying a resale. Hire a
state-licensed, professional inspector to evaluate the home's true
condition, which could save you thousands of dollars in repairs and
maintenance.
7.
Not having the home properly inspected when buying a new home. Research
the number of homes sold, homeowner satisfaction, years in business,
industry recognition and warranties offered.
8.
Not getting what you want because you're impatient. If it's a used
home, allow time to negotiate and get the best deal possible. Refusing
to rush the process could save you $5,000 on the purchase price.
9.
Waiting for a better time to buy based on the market and interest
rates. History shows that those who purchased homes and kept them for
three to five years or more did better than those who didn't. Waiting
is one of the biggest mistakes a home buyer can make.
10.
The biggest home buying mistake is not buying at all. Buying a home
will give you a place to call your own and allow you to take advantage
of tax breaks and build equity.
Avoiding common mistakes can make the home buying process simpler and less stressful.
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