Even though a home purchase is a huge investment, people still tend to some mistakes when they buy their home. Even a person who has purchased several homes can make a few of the more typical home buying mistakes. Many of these mistakes can be avoided quite easily, however, and here's how to get the most out of your home purchase.
People often begin looking without really sitting down and thinking about the budget. First, contact a lender and get pre-approved for a loan. This costs a small fee, but it really helps you figure out exactly how much you can spend. Keep in mind that you don't have to spend as much as the lender is willing to lend to you. You absolutely can spend less money, and you should if you anticipate feeling overwhelmed by your monthly mortgage and home costs. When budgeting, don't forget to add in homeowner's association fees, insurance and property taxes, which definitely affect your bottom line.
Never judge a book by its cover and don't judge a home by its appearance either. For instance, you might be turned off by the mess or outdated decor in a home, but it is important to remember that the seller's clutter and decor are not permanent. Decor can be changed and updated. Likewise, a house that is decorated exactly the way you love is great, but the home truly needs to suit your family beyond the ascetics. The house might look fantastic on the surface, but actually need new plumbing and a new roof.
Another issue that frequently occurs is when a couple falls in love with a specific house but fails to really judge the location or neighborhood. If it is very far from your workplace, you might get tired of the lengthy commute. If the neighbors seem loud and unruly, you cannot make them move. If the home is located on a busy street, you cannot move it to a quiet cul-de-sac. If you find a house you like, visit the property at different times of the day to judge the noise and traffic.
While it is increasingly easy to find homes you like online and even to do some research on neighborhood comps, trying to get through the buying process without a realtor is not a good idea. A real estate agent has a great deal of experience in buying and selling homes and when you are the buyer, you need an advocate looking out for you. Your realtor not only will act as your advocate, they also can help you through the maze of inspections and escrow.
If you wish to purchase a home in Texas Hill Country, the team at Nixon Real Estate is available to help. They can find great Fredericksburg, TX real estate, Kerrville real estate or homes for sale throughout Texas Hill Country. They also can help you find inspectors and answer questions about closing costs and escrow.
People often begin looking without really sitting down and thinking about the budget. First, contact a lender and get pre-approved for a loan. This costs a small fee, but it really helps you figure out exactly how much you can spend. Keep in mind that you don't have to spend as much as the lender is willing to lend to you. You absolutely can spend less money, and you should if you anticipate feeling overwhelmed by your monthly mortgage and home costs. When budgeting, don't forget to add in homeowner's association fees, insurance and property taxes, which definitely affect your bottom line.
Never judge a book by its cover and don't judge a home by its appearance either. For instance, you might be turned off by the mess or outdated decor in a home, but it is important to remember that the seller's clutter and decor are not permanent. Decor can be changed and updated. Likewise, a house that is decorated exactly the way you love is great, but the home truly needs to suit your family beyond the ascetics. The house might look fantastic on the surface, but actually need new plumbing and a new roof.
Another issue that frequently occurs is when a couple falls in love with a specific house but fails to really judge the location or neighborhood. If it is very far from your workplace, you might get tired of the lengthy commute. If the neighbors seem loud and unruly, you cannot make them move. If the home is located on a busy street, you cannot move it to a quiet cul-de-sac. If you find a house you like, visit the property at different times of the day to judge the noise and traffic.
While it is increasingly easy to find homes you like online and even to do some research on neighborhood comps, trying to get through the buying process without a realtor is not a good idea. A real estate agent has a great deal of experience in buying and selling homes and when you are the buyer, you need an advocate looking out for you. Your realtor not only will act as your advocate, they also can help you through the maze of inspections and escrow.
If you wish to purchase a home in Texas Hill Country, the team at Nixon Real Estate is available to help. They can find great Fredericksburg, TX real estate, Kerrville real estate or homes for sale throughout Texas Hill Country. They also can help you find inspectors and answer questions about closing costs and escrow.
About the Author:
Pammy McGrath likes reading real estate blogs. If you are searching for licensed Fredericksburg real estate agents, or to discover Fredericksburg homes for sale, please check out the NixonRealEstate site now.