Avoid the top 5 mistakes made when purchasing a home!

Buying a new home is one of the most exciting things you can do, but don't let your new dream home become a nightmare by falling for one of these common mistakes
#1 Avoid buying a home if you are going to be moving away soon.

Turning a home into an investment takes time. If you do not plan on living in Northeast Arkansas for 4 or more years, I'd suggest putting your home search on hold until your plans are a little more permanent.
#2 Avoid throwing your budget out the window!

Buying a home can be very emotional, so even the most well intended home buyers can be swept away in the process. Make sure you have partnered with a realtor and lender who understand your budget goals, and are not going to push you to over-spend. Finding a great home is important, but remember, no home is worth owning if it takes all of your spending money just to live in it.

#3 Avoid forgetting about additional costs of home ownership

Ask a lot of questions. Find out what the utilities cost in a home before you buy it. Find out if there are Homeowners' Association Fees in the neighborhood. How old are some of the appliances that might or might not last as long as your stay in the home? What are closing costs? These are important questions to ask before it is too late. Talk to your realtor about any and all of these before you pull the trigger on your next home. Ask them if they know of any other costs that could be associated with that specific home.

#4 Avoid "taking their word for it"

Remember, this is a business transaction with a contract, title work, insurance, and other big words that can seem intimidating. Your realtor is here to walk through this with you, and any good realtor will say "get it in writing." If there is an agreement between a buyer and seller it is extremely important to get paperwork signed by both parties confirming that agreement. The huge majority of deals happen without a hitch, but if any confusion does arise, you're going to be happy you have the paperwork to fall back on.

#5 Avoid the DIY mistakes

There are plenty of times where doing it yourself can pay off. However, if you've ever seen someone attempt a Pinterest craft on their own, you have seen how quickly DIY can go wrong. Buying a home is probably the biggest purchase you are ever going to make. Make sure you have surrounded yourself with a team of professionals who give you the confidence to know you are making the right decisions for your family. A professional realtor, lender, home inspector and others are essential teammates to have when going through the home buying process.
Our team prides itself on helping you make the right decisions when buying or selling your home. If we can help guide you away from any of these - or plenty of other - mistakes in the future talk to an advisor today!
Made on