Here are four common mistakes to avoid during the home-buying process.
There are steps you can take during the buying process to avoid common buyer mistakes. Here are four mistakes buyers frequently make and how to avoid them:
1. Not having a plan. Sit down with your trusted real estate advisor and build a strategy based on where you are today and where you want to go. That may sound basic, but it’s a major part of the process.
2. Not enough time. Many buyers don’t give themselves enough time to deal with issues, whether it’s with the pre-qualification process, cleaning up credit, or working things out with their current living situation. Put together a timeline so you know how much time you may need for each step.
“You need to reach out to a trusted loan officer and check your credit.”
3. Not saving money. There are substantial payments involved in the process besides the down payment. This goes back to having a plan; you need to save up the proper amount of money to give yourself the best opportunities when buying your dream home.
4. Not checking your credit. Again, this may seem like a no-brainer, but you need to reach out to a trusted loan officer and check your credit. I once had a pair of well-qualified clients, but there were mistakes on their credit report that they were unaware of until the last minute. Unfortunately, they had to pause their home-buying process to clean up something that never should have been on their credit report.
If you have questions about how to avoid common buyer mistakes or any other real estate matter, feel free to reach out via phone or email. We’d be glad to speak with you.