5 Costly Mistakes Home Buyers Make

Mistake #1: Not knowing what they can afford before making an offer.

 

The best way to avoid this is to get pre-approved for a mortgage so you know exactly how much you can afford. Usually, pre-approvals are free.

 

Mistake #2: Not knowing who the agent represents.

 

Unless an agent is working as your buyer representative, they represent the seller. Many people don't realize this.

 

Mistake #3: Choosing the wrong mortgage.

 

A bad mortgage can cost you thousands in taxes and interest. Consult an accountant before you choose your mortgage.

 

Mistake #4: Not finding problems with the home before buying it.

 

You should always have a professional inspector look at the home before buying it, otherwise, you could be looking at huge repair costs later on. Read this guide to avoiding a money pit.

 

Mistake #5: Not understanding how their credit can impact their ability to purchase or refinance a home.

 

Get a mortgage professional to help you go over and prepare your credit file before you buy a home.

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Kelvin Lee