Here are 5 Common Home-Buying Mistakes

Mistake #1:

Not Knowing What You Can Afford

Many buyers make offers without a clear understanding of their budget. To avoid this, get pre-approved for a mortgage before you start your search. Pre-approval is often free and helps you set realistic financial boundaries, giving you confidence and clarity.

Mistake #2: 

Not Understanding Agent Representation

Did you know that unless an agent is explicitly working as your buyer's representative, they are representing the seller? It’s important to establish the type of relationship you have with your agent so you know whose interests they are prioritizing.

Mistake #3:

Choosing the Wrong Mortgage 

The right mortgage can save you thousands over time. A poorly chosen mortgage, however, can lead to high taxes and interest costs. Consulting an accountant or mortgage advisor can help you pick the best option tailored to your financial situation.

Mistake #4: 

Skipping the Home Inspection 

Ensure a professional home inspection to avoid costly repairs. A detailed inspection can uncover hidden problems that may require significant investment to fix. Don’t skip this step—it's your safeguard against unexpected expenses.

Mistake #5: 

Ignoring the Impact of Credit 

Your credit score plays a huge role in determining your eligibility for a mortgage or refinance. Work with a mortgage professional to review and, if necessary, improve your credit profile to secure the best terms.