3 Home Buying Mistakes That are Far Too Easy to Make

potential buyers staring at a houseThis time of year is ideal for looking for homes. Since springtime is a popular home selling season, you have plenty of choices when it comes to finding listings in your preferred location, in your ideal price range, and with your favorite features. With all of these options, it’s going to be a breeze buying your perfect home… right?

There are some common mistakes to be aware of when searching for and buying your next home. But with the right resources and a team of professionals on your side, purchasing a home should be hassle-free.

1. Letting Your Emotions Get the Best of You

Buying a home is an emotional experience. While you’re touring a home, you can’t help but feel an emotional connection as you imagine hanging your photos and decorations in the living room, cooking dinners in the kitchen, and making precious memories with your friends, family, and new neighbors.

But be careful; if your feelings cloud your judgment, you may find yourself overpaying for your dream home, jumping in too quickly to make an offer, or lowballing and risk losing your favorite home.

home buyer tracking financesHow to Avoid This Home Buying Mistake

Arm yourself with facts and objective advice, such as your list of wants and needs, to keep you from making any emotional home buying mistakes.

2. Spending More Than You Can Comfortably Afford

Just because you qualify for a certain mortgage amount doesn’t mean you should spend all of that money on your new home. You don’t want to end up in a situation where you are making monthly payments that you are not comfortable paying.

How to Avoid This Home Buying Mistake

Check your budget to determine the maximum amount you want to pay per month, then talk with a trusted local lender. Contact us and we can make recommendations.

3. Not Relying on a Real Estate Professional

When buying a car, savvy shoppers do their homework to make sure they’re making the best purchase: taking the car for a test drive, asking about the repair history, and having a trusted auto shop inspect the car thoroughly. However, buying a car can be intimidating, since no one is on your side to help you negotiate the best price and understand the paperwork.

Buying a home is very similar to buying a car. But instead of having to make all of your decisions yourself, you can work with a real estate agent who has your best interests in mind.

real estate agent showing a homeYour agent will be able to give you in-depth information about homes and neighborhoods you may like, connect you with trusted service providers when you need to order a home inspection or want to make home improvements, and offer objective advice to help you make the best decisions.

Not working with a real estate agent when buying a home may cause you to lose time and money — and possibly the home that you love.

How to Avoid This Home Buying Mistake

Talk with a reputable local real estate agent about your home buying goals and how the agent will help you find the home of your dreams. An experienced real estate agent will know the area, provide a home’s history, and be a trusted advisor.

Buying a Home? Talk to Our Experts

If you’re considering buying a home in our area, let’s talk about your home buying goals. Have a few listings that you are interested in touring? Contact us and we can schedule a showing!

About Walter Burns

Walter Burns is a licensed New Jersey Realtor since 2002 and he specializes in luxury living in the hottest New York Metro area communities including the prestigious New Jersey Hudson River waterfront areas of Hoboken, Jersey City, Bayonne, Union City, Weehawken, West New York, Guttenberg, North Bergen, Cliffside Park, Edgewater, and Fort Lee. Walter's mission, desire, and goal is to assist all parties in accomplishing their real estate goals, as well as to empower his clients through exceptional service, creating extraordinary results. Having been mentored by several of the top 100 Realtors and Developers in the United States and Canada, he graduated from Rowan University and currently resides in Hoboken. Walter is part of Weichert Realtors, the largest privately owned real estate firm in the world. NJAR Circle of Excellence Sales Award, 2009, 2010, 2011. Google

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