Be aware of what you shouldn’t do!
Buying a home can be a daunting task, especially if it’s your first home. It’s an important milestone and a major investment. It’s exciting but full of complexities. If done incorrectly, the consequences can be costly.
Buying a home in Charlottesville is probably the largest financial transaction you will ever make. Make sure that you are prepared to make a good purchase decision.
You also need to steer clear of the pitfalls that can put a huge damper on your plans. Here are the top mistakes to avoid when buying a home.
Mistake #1: Not doing proper research and preparation
Before you leap into the home buying process, you have to start by understanding your family’s finances and needs. No one knows your financial situation better than yourself. Take a look at your assets, analyze your debts, and get pre-approved before plunging into the house hunt.
You also have to familiarize yourself with the neighborhood. Keep in mind that you’re not just buying a house, you’re also buying a location. Find out about the quality of schools, the ease of transportation, and the nearby amenities.
When you do proper research and preparation, you’re making your potential house a financial blessing.
Mistake #2: Underestimating the cost of owning a Charlottesville home
Owning a home is a serious commitment. It’s a big move forward.
Aside from property taxes and home insurance, you also need to be aware of the other costs of home ownership. Most of the time, they can be easily overlooked.
Listen carefully to your agent so that you understand the whole package and can enjoy the experience of signing the final document and taking hold of the keys to your new home.
You also have to remember that closing on a house is just the initial step. To avoid problems in the future, invest time in learning about what you’re signing and what you’re agreeing to.
Mistake #3: Skipping the Home Inspection
When buying a house, nothing is more important than the condition of the property.
Some home buyers try to save money by avoiding the expense of hiring an inspector, who may take anywhere from two to four hours, to search for signs of property damage. However, those undetected defects may result in thousands of dollars of damage down the road.
No matter how much you want the property, foregoing inspection is unwise. If you skip this important step, you risk living in a home that costs almost as much as any repairs you will be making in the future.
Get a real inspector who is certified by the American Society of Home Inspectors (ASHI). It takes a trained eye to be able to see the problems that can exist in a home.
Buying a home is one of the biggest financial decisions you’ll ever make. It makes sense to have an experienced real estate agent guiding you so that you can avoid these mistakes.
Let us assist you!
Call me, Pam Dent, at 434-960-0161 if you have questions or would like to get your home buying process started. We can help you find your dream home!