What are home buyer mistakes to avoid?

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When buying a home, not only will you have closing cost that can add up to 5% of your new home’s value, but in addition to that you will have monthly utility bills, ongoing insurance, property taxes, plus the costs of maintenance and repairs. You should make sure that you have budgeted for these items and that you have a fully funded emergency fund before you buy your home.

According to the National Association of Realtors, most homeowners stay in their homes an average of just four years, so while the resale value of your home may not seem important when you’re moving in, it will likely become extremely important in just a few years. Keep that in mind when you’re choosing your home’s location and features.

A Real Estate professional in your area can give you advice about which neighborhoods are increasing in home values and the types of have homes that attract the most attention from buyers. Use your agent’s suggestions to narrow down your choices when you’re shopping for your new home.

During the home-buying process your home inspection could turn up problems in the home that should reduce the seller’s asking price. If the seller isn’t willing to negotiate, you have to decide if you’re willing to live with and pay for those problems or are you going to decline to buy the home altogether.

When using a professional real estate agent you can avoid these mistakes with advice that fits your needs. They can help you plan for closing costs as well as answer questions about ongoing costs for the type of home you buy.  A professional Real Estate agent can help you choose a home that will retain its resale value and an honest agent will let you know if a home purchase has gone from good to bad.

Tags: avoid, closing cost, home buyer mistakes, home value, monthly expenses, moving, resale