Julington Creek Plantation Home Buying Mistakes 32259

The Most Common Home Buying Mistakes

     Here are some of the most common and expensive mistakes made by first time home buyers. Take a moment to read through these mistakes. You can easily avoid making these mistakes and in the process significantly enhance your home buying experience. With a little insight and caution, you can get a great home at a good price while foregoing many unnecessary and costly mistakes.

     Haste makes waste!   This is easy to do once the decision to buy a home has been made. It means rushing off looking at homes, surfing the web or calling on advertisements before doing some up-front preparation. Not spending time doing this preparation, though, can be a disaster. Take your time, think things through before you buy. Find a good real estate agent in whom you have confidence. Let them guide you through the home buying process and help you set realistic, achievable goals. Bottom line: Seek expert advice from real estate professionals you trust and don't make snap decisions.

     Buying too much home the first time.   Being "house poor" is a terrible existence. A large and beautiful home with little or no furniture tends to be empty and cold. A life where almost every dime of your earnings goes to the support of your house wears thin very quickly and is a frequent cause of family stress. Pushing yourself to your financial limits leaves you very vulnerable when those inevitable changes to your income occur or when unexpected expenses arise.   Leave yourself some breathing room!

     Know who your real estate agent represents. Does the real estate agent driving you around to see homes represent you or the home sellers? You need to know this before you begin. Many agents work as "transaction brokers" and represent neither you or the seller. In this instance, the real estate agent acts as a neutral party to the transaction. The transaction broker agent has a duty to provide you with accurate, honest, fair service. They cannot work against you to the seller's benefit. In contrast, if the agent you are using exclusively represents the home seller, you must be aware that the agent has a fiduciary responsibility to the seller, not you. This means that a seller's agent is tasked with acting in the sellers best interest, not yours. So as a home buyer, choose an agent who will act as either your exclusive agent or as an unbiased transaction broker.

     Compare mortgages!   There are many variables to consider when selecting a mortgage. You need to evaluate the type of mortgage (fixed, variable, adjustable, etc), repayment terms, and origination costs (points, fees, discounts, etc). Be sure to investigate your mortgage options. Don't simply accept the first plan presented to you, whether it is from a mortgage broker, a home builder, or on the recommendation of a friend or relative. Spend time comparing to get the most advantageous plan for your requirements and financial situation.

     Failure to obtain a mortgage preapproval before shopping. Before you begin shopping for a home, take the time to obtain a mortgage preapproval. In the past it may have been different, but today, preapprovals are a necessary part of the home buying process. Having a mortgage preapproval gives you the exact price range for your purchase. Moreover, a preapproval will add strength to your offer on a home. The seller knows you are ready and able to go through with the purchase and as such, will look far more favorably on the offer you make.

     Looking for the "perfect" home.   Many first time buyers make the mistake of thinking that they will find a home that meets 100% of their needs and desires if they look around long enough. There are countless variables available in homes; location, style, size, amenities and condition. So finding the "perfect home" is an unrealistic goal. There are two problems associated with looking for the perfect home. First, these buyers pass by homes that meet most of their requirements only to eventually give up or get upset with their Realtor. After weeks or months of this unrealistic search, the worn out buyers may rashly make an offer on a home that is not as nice as homes they had passed up early in their search (but are now sold or under contract).   Second, the best real estate agents do not have the time to spend working with buyers who want to go out shopping for homes week after week for months on end. So these buyers end up working with multiple agents who have not earned the buyer's trust.   Instead, it makes sense to determine the most important of your needs and in a home. Then select a home that meets the majority of them.

     Never forego the home inspection process. The purchase of a home is one of the biggest financial decisions you will make. So you need to set aside the time and money to have the home you want to buy thoroughly inspected by a qualified home inspector. If the home you are buying has significant defects or problems, you need to know this! Don't buy blindly and "hope" the home is in good condition. This is a gamble you cannot afford to take.   Why not protect yourself and get a professional home inspection?   For a few hundred dollars, you can gain peace of mind about your home purchase.

Julington Creek Plantation, Julington Creek, JPC, Homes Sale, Julington Creek Home Prices, Jacksonville FL 32259, Denise Bash, JCP, NW St Johns County, Riveroaks Plantation

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