10 Common Home Buyer Mistakes To Avoid

Whether you’re on the buying end or the selling end of a real estate deal, there’s a whole lot of money riding on the outcome. Listed here are a few common mistakes and how you might avoid making them yourself. In all of my time working in the Guelph Real Estate industry, I’ve come across the same painful mistakes that people make again and again.

A little research can help you to avoid making these costly mistakes. Selecting an agent with whom you do not connect, or who is not committed to learning and meeting your needs. You real estate agent will serve as your voice throughout much of the home search and sales process. Be careful to select an agent who genuinely cares about meeting your needs, and with whom you feel you can communicate well.

A misunderstanding or disagreement at any point in the process – even after you’ve made the purchase – can be a source of some serious heartache and regret. Failing to get pre-qualified. In today’s market, heading to the bank or mortgage company to be pre-qualified should be one of your first steps when you start thinking about buying a home. The process is relatively painless, and can help you to get a realistic picture of what sort of home you can really afford.

Pre-qualification signals to sellers and agents that you’re ready to find your dream home, and that you have no interest in wasting time. Misunderstanding the total price tag. When hunting around for homes, ask your real estate agent to discuss closing costs with you – beyond a simple down-payment, there are often many costs, taxes, and fees that can creep up on you, totaling hundreds or even thousands of additional dollars. Earnest money, inspections, title insurance, and legal fees add up quickly, and should be a part of your planning process from the beginning. There’s nothing more upsetting than having an offer accepted and finding that you can’t pull the cash together to seal the deal. Making your search too narrow. By and large, every other consumer out there has access to the same publications, search engines, and bulletin boards that you do. Because of this, in many markets, homes that show up through these mediums will be snapped up before you even catch wind of them. A qualified real estate agent has access to listings the very moment they hit the market, and long before most consumers catch wind of them.

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