Buying a House in Washington State? 5 Mistakes to Avoid

For 75 percent of Americans, buying a home is one of their main financial priorities. 

Perhaps you agree with that notion, and you plan to purchase a house in Washington state. But if you’ve never bought a home before, then you might find that it’s a daunting process.

To make it easier for you, we’ve come up with mistakes for buyers to avoid when perusing houses for sale in Washington state. There’s a lot to learn, so let’s get started. 

1. Buying While You’re Still in Debt

If you’re looking to buy in the Seattle area, you’ll find yourself in one of the nation’s most expensive real estate markets. 

As such, you have to be ready to pay top-dollar on your down payment and mortgage. A mortgage advisor can help you choose the best plan for your financial situation. And your down payment can take a load off of your monthly installments. 

However, lingering debt puts more strain on you as you pay each month. Your best bet is to buy after ridding yourself of the IOUs that are weighing you down so you can start with a clean slate — and stress-free payments.

2. Choosing the Wrong Mortgage

On that note, your monthly payments can make or break you. It’s imperative that you choose the right mortgage for your financial situation. 

Again, mortgage advisors can help you select the most cost-effective payment plan. In many cases, the cheapest option will end up being the 15-year conventional mortgage. But weigh your options with a pro and understand the stipulations of each mortgage before signing for anything. 

3. Saving Too Little for a Down Payment

Another way to reduce your mortgage is to save up for a healthy down payment. Don’t skip this step, even if you qualify for a mortgage that requires you to pay less. Often, a low-down-payment mortgage comes with high interest rates and fees. 

Most experts recommend saving 20 percent of your down payment before buying. This number could be big or small, depending on the property you have in mind. For example, if you’re interested in tiny houses for sale in Washington, you’d be looking at a much smaller down payment. 

4. Selecting a Stylish But Unsturdy Home

Don’t be fooled by cosmetic upgrades. As you peruse houses in Washington and beyond, you have to make sure they have good bones, first and foremost. 

On that note, you may be able to get a better deal on your property if you can look for solid structure as opposed to modern cosmetic upgrades. Keep in mind that you can do these projects on your own. In exchange, you can buy a dated, albeit sturdy structure for much cheaper. 

5. Skipping the Inspection

On that note, never buy houses in Washington state without going through an inspection. 

Your inspector will perform a thorough check of the property, ensuring that the structure is solid. You can’t tell from a walk-through if you’ll have to replace the plumbing in a year or if there’s hidden mold in the basement. An inspector can point this out and help you avoid a bad deal — or a big expense after you move in.

Find Your Perfect House in Washington State

Finding a house in Washington state requires financial planning, smart deal-making and a bit of intuition. In the end, though, you should be able to find the perfect place for you and your family, thanks to your new real estate know-how. 

Need a little more help? Click here for more mortgage advice, applicable to the Washington market and beyond. 

source https://localhomereviewguide.wordpress.com/2021/01/24/buying-a-house-in-washington-state-5-mistakes-to-avoid/