3 Mistakes People Make in Buying a New Home

Buying a new home can be exciting, but if you also feel intimidated by the prospect, that’s because...well, it is intimidating. Buying a new house isn’t cheap, and then you have to live there for at least several years. It’s important to make the right choice, or you could quickly come to regret it. In fact, a sense of trepidation when it comes to buying a new house is probably healthy. It forces you to be cautious. But not everyone is cautious when buying a new home, and many mistakes can be made. Here are a few common pitfalls to avoid when searching for your dream home.

Unrealistic Budget

Have you ever laughed at people on real estate shows who have a long list of things they “need” in their home and a relatively small budget? Unfortunately, this problem is more common that you might think. Of course everyone wants to work within close distance to work, near the heart of town, and in a great neighborhood. Of course everyone would like to have enough rooms for everyone in the house to have their own and then a spare room for guests, and no one wants to have to share a bathroom. But the question is, can you afford that? And that’s not something that every buyer knows. That’s why it’s a good idea to look at listings months before you start to move so that you have an idea of what you can afford. Your real estate agent can help present a realistic image of what you’d need to pay for what you need, as well.

Waiting Until They Go to Sign Before Getting Pre-Approved

Many homeowners get their mortgage pre-qualified before going on the house hunt to give themselves an idea of what they can afford. But they then wait to get pre-approved until it’s time to sign on the house of their dreams. This can cause some problems, because pre-qualification only tells you the kind of mortgages you may be eligible for, while pre-approval gives you an in-depth estimate of the budget you can expect. If you’re already attached to your dream home, only to find out you can’t afford it, it can be devastating. It’s a good idea to get pre-approved before you make any decisions, even emotional ones.

Trying to Go It Alone

Many people searching for a new home will choose to save money by not hiring a realtor. Not only does this put them in for more work than they might have expected—thorough research of the market and negotiations with the homeowner or listing agent—but it makes it much easier for them to be taken advantage of. A real estate agent, like any other agent, is someone to have in your corner to make sure that you find your dream home for the best deal. You can tell them what you want and they can tell you where in the city you can expect to find all of that within your budget. A real estate agent can also advise you if your budget needs to be bigger or your wish list needs to be smaller. A realtor will make the entire process much easier, and, well, foolproof.

Make sure you know what you’re getting into when you search for your first home. After all, you want to ensure that you really love the place where you’ll live for years to come and that the mortgage payments won’t choke your bank account. A professional realtor who is an expert in College Station and the Brazos Valley area can help ensure that you find the right house, without the regrets.