One of the most exciting parts of adulting is shopping for a new home. House-hunting gives us the opportunity to dream about a new life and imagine ourselves living in various other environments. Each home we tour feels like playing out a future story.
Unfortunately, this excitement often leads to common house-hunting mistakes. For example, it’s normal to fall in love with potential homes, but getting attached can lead to extreme disappointment.
However, getting attached to a home prematurely isn’t the only red tape you need to navigate. Keep reading for the top six house-hunting mistakes you need to avoid.
1. Not Knowing Your Finances
Before you start shopping for houses, it’s imperative to know your budget. If you’ve never owned a home before, you may not understand all of the expenses that come with homeownership. For example:
- Property taxes
- Utilities (electricity, gas, water, waste removal, etc.)
- Services (phone, cable, internet)
- HOA fees (in some neighborhoods)
- Homeowner’s insurance
- And more
Make sure you know exactly how much room you have in your budget for homes and all the associated costs before making an offer.
2. Not Getting Pre-Approved for a Loan
One of the most common house-hunting mistakes new homebuyers make is failing to get approved for a mortgage before starting their search. They assume they have the credit score and income necessary to buy any house they want.
Unfortunately, this can lead to putting an offer down on a home only to find out you don’t qualify. Get pre-approved first to figure out what price range you should be shopping in. If you don’t like what you find out, spend a few months improving your credit score.
3. Not Using a Real Estate Agent
When shopping for homes, we highly recommend using a real estate agent. They can help you find exactly what you need within the parameters of your budget. Talking to realtors also grants you valuable insight and knowledge pertaining to neighborhoods, school districts, and the current real estate market.
Finally, a realtor will be able to help you negotiate costs and conditions with the seller.
4. Not Getting an Accurate Home Value
Not knowing the housing market and home values are some of the biggest house-hunting mistakes people make. If you’re interested in buying a home, get a free market analysis on the property before placing an offer. You should also do this for your own property if you need to sell your current home.
5. Being Too Picky
While it’s important to have standards and make sure your next home hits most of your priorities, you don’t want to be too picky. People who are too picky will go through dozens of homes before making an offer. This can lead to a lot of frustration both for you and your realtor.
Additionally, if you’re too indecisive, you could let amazing homes slip through your fingers.
6. Not Knowing When to Jump on a Good Opportunity
This brings us to our last point. Whether you’re looking at homes for families or need a small place for yourself, you need to know when to take advantage of a good deal.
You should always avoid impulse decisions, but don’t linger on a good home so long that you lose out on the opportunity. Know how to make an educated decision to find a good home for you and your family.
Are You Concerned About Making House-Hunting Mistakes?
If you’re living in Bothell, Washington, and are searching for a new home, we can help you avoid making house-hunting mistakes. Our team of licensed real estate agents is familiar with the local community and can help you find the right home for your lifestyle and your budget. Contact us today to start your house-hunting journey.
source https://localhomereviewguide.wordpress.com/2020/11/09/6-common-house-hunting-mistakes-to-avoid-in-bothell/
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