5 Common Mistakes to Avoid When Buying a Home

Here are five common mistakes to avoid when buying a home:

Not getting pre-approved for a mortgage:

Before you start shopping for a home, it's important to get pre-approved for a mortgage. This will give you an idea of how much you can borrow and help you set a budget. Without pre-approval, you may fall in love with a home that is out of your price range or be unprepared for the costs of buying a home.

Not budgeting for closing costs:

In addition to the down payment and mortgage payments, there are several closing costs that you'll need to pay when buying a home. These can include things like title insurance, attorney fees, and appraisal fees. It's important to budget for these costs and have a clear understanding of what you'll be responsible for paying at closing.

Not hiring a home inspector:

A home inspection is an important step in the buying process that can help identify any potential issues with the property. It's important to hire a licensed, professional home inspector to conduct the inspection and provide a detailed report.

Not negotiating for repairs:

If the home inspection reveals any issues, it's important to negotiate with the seller for repairs or credits to offset the cost of repairs. Don't be afraid to ask for what you need to feel comfortable with the purchase.

Not getting a mortgage rate lock:

If you're getting a mortgage to buy a home, it's important to lock in your mortgage rate. This will ensure that you get the rate you were quoted, even if rates go up before you close on the home. Overall, these are just a few common mistakes to avoid when buying a home.