Survival Update

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Top Mistakes Home Buyers Make

Photo by Sieuwert Otterloo on Unsplash

Buying a house, especially in today’s market can be incredibly stressful. Yet, you should not let the stress of it all cloud your judgment and choose a home that is not perfect for you. This is why taking into account these house-hunting mistakes can be the key to you avoiding them.

1. Know your budget
The amount of people who are actually unaware of the exact amount they can afford is actually staggering. When calculating what house you can afford, always make sure to consider how much you will need to spend on closing costs, and interest as well as unexpected moving costs. This will help you find a house to fall in love with that is actually in your price range.

2. Mortgage Pre-Approval

Similarly to knowing your budget, you will need to show sellers that the bank also agrees on which houses you can or cannot afford. The Pre-approval letter can show your commitment to buying a house and could be the key to your offer being accepted.

3. Looking into the future

Many people will stay limited in the homes they are looking at because instead of looking at what a home could be, they are looking at what a home is like now. This is a big mistake. If you can try to spend a little time feeling the space and envisioning what you can transform it into. This will help you better understand all the potential of the home you are looking at.

4. Inspections

A huge mistake is not having the property properly inspected by an expert. A good inspection will show you all of the major flaws in the house and will help prepare you better for any potential renovations. Especially, if the flaws are larger structural flaws, they could have a large effect on your budget, which is why it is important to consider them ahead of time.