CONGRATS!! I see your ready to get into this wonderful buyer's market!! A few tips for you, common mistakes I see made by uneducated buyers.
1.Looking and searching for homes with open houses, the internet and housing publications.
"Ive been searching the MLS everyday! The pictures look awesome....Im sooo excited."
Great!!! Guess what? That house got an offer on it last night. Pictures dont always tell the whole story either. All these venues are a excellent way to learn about the market. However, alot of homes advertised in magazines and websites may already be sold, pending or may have a price reduction not yet advertised. The market changes EVERY DAY!!! Contact a Real Estate proffessional. They have up to date information not avalible to the public. A great realtor always is on the ball with what changes happen and help you make informed decisions when finding that perfect property.
2. Waiting for the "perfect house."
" Ive seen 20 houses today, and been on the MLS all week. IM SO FRUSTRATED."
Right now is the time to buy. Welcome to an awesome buyer's market. When buying it is not a process of selection but a process of elimination. With an abundance of inventory and more properties being listed, be prepared for a tough decision when choosing your next home. There will pros and cons of all property, choose a real estate agent whom knows and understands your housing needs and can help you make an informed buying decision.
3.Not having a home inspection.
"Home inspections are kinda expensive. My third cousin's best friend knows something about houses, I'll just get them to take a look at it.
THIS IS VITAL. Yes that perfect house may look great with your favorite paint color on the walls but what is happening behind those walls. What is happening that we cant see? Trying to save money now, may be very costly down the road. A home inspector can detect issues a buyer may over look. Ask your new realtor to assist you in setting up your new home inspection.
4. Working with a Real Estate proffessional who is not committed to building a strong working realtionship with you.
" I called my Realtor but she hasn't called me back."
YES! Realtors are busy proffessionals. You don't always have to work with the agent who is just too busy for you. Choose a realtor who is committed to you and working in your best interests. Dont be afraid to search to find the right connection. We are out there!! Look for a proffesional who works to serve you before and after the sale. YOU DESERVE IT!!!
5. NOT BEING PRE QUALIFIED prior to making an offer.
"Well I think I can swing those payments."
STOP!!! There is many factors things that can influence financing. Working with a mortgage broker prior to a purchase will create power for you as the buyer. Knowing what you can afford, the interest rates and what is required of you to recieve financing makes the buying process stress free and FUN!!
" Im waiting till Ive saved enough before I buy a house."
GREAT! QUESTION........How do you know how much you need to save in order to get the home you want? How long do you actually have to wait? How do you know what financing programs are avalible to you if you dont ask? GET IN TOUCH WITH A GREAT MORTGAGE BROKER. Ask your realtor for information on mortgage brokers in your area.