Do you ever begin a project and end up muddling your way through the whole thing, only to just barely survive the chaos and come out on the other end thinking, “There has to be a better way!”
Well, don’t let the home buying process be another one of those muddled up projects! With years of real estate experience, I’m here to help you learn from the biggest mistakes I’ve seen home buyers make time, and time again.
Mistake #1: Not getting pre-qualified or pre-approved for a loan Sure, you can search for homes without ever talking to a loan officer; but that’s like planning a vacation without knowing your travel dates. Understanding how much home you can afford should be your first priority once you’ve committed to purchasing a home.
Beyond the obvious reason of helping focus your search to what you can truly afford, most sellers won’t even consider an offer unless proof of pre-qualification is submitted. For more information on the pre-qualification process, check out this quick summary from one of my recommended vendors, Supreme Lending.
Mistake #2: Not clearly defining your home search criteria When a buyer recently told me she was looking for a 4 bedroom, 3 bathroom house in Marietta, I told her she’d have to narrow down her search a bit, otherwise we’d spend a year or so looking at thousands of active listings in Marietta that match her criteria. You can’t possibly look at thousands of homes, nor do you want to! Narrowing down your home search will help you, and your agent, pinpoint homes that truly meet your wants and needs. One way to sort through all the options is to make a Top 5 list.
Your top 5’s can focus on anything that’s important to you, from school districts and commuting time, to backyard size and closet space. While it’s easy to deviate from your list, try to stick to your original Top 5 – it’s usually the best indication of what you truly want. Of course you may not know exactly what you want right out of the gate – that’s okay too. A good agent will guide you through the real estate jungle, and show you what’s available in your price point so you will ultimately be able to come up with your Top 5 list.
While there is no denying the home buying process is hard work, avoiding the mistakes of home buyers past will help keep you on a path to success and home ownership.
– Amanda