Purchasing a new home is always an exciting and daunting task, particularly for first time homebuyers in Atlanta, GA. There are lots of things you must consider when purchasing a house, and for some people, it can all get a little too complex. You must first realize that it is perfectly alright to feel underprepared and a little afraid. After all, buying a home is going to be one of the biggest investments you are likely to make in your life.
You must come to terms with the fact that you are going to be under stress, which can lead to mistakes when you are buying a home. An experienced real estate agent can guide you, by ensuring you don’t make any mistakes that derail your new home purchase. In my 27 years of experience working in the real estate industry, I have seen home buyers make some monumental errors.
Therefore, to guide and protect you from making the same errors, here are the biggest mistakes home buyers make and how you can avoid them:
1. Falling in love with the house
This is one of the most common mistakes made by home buyers, since they can’t seem to control their emotions, if they like a home. They end up letting the seller know that the house is ideal, and this puts them on the backfoot. You should always scope out the market before settling on a home because then you have a decent idea about the market and can make a sensible decision.
2. No preparation or research
You must ensure you are well prepared when purchasing a home and should also conduct a thorough market research. It is important you get pre-approved for finance, get rid of any debts, and analyze your assets before you begin searching for a new home. Check out the neighborhood before you buy a home there, so you know about transport, crime level, and quality of schools before moving to a new place.
3. Being influenced by the market
A lot of people get influenced by the market, when conducting their research. They should know that the real estate market moves in cycles, which means there will be times when prices will be in favor of buyers, and times when sellers will hold the upper hand. You shouldn’t wait around for the market to be in your favor before purchasing a new home.
If you have money, and have made up your mind on purchasing a home, go ahead and buy it!
4. Choosing the wrong mortgage
It is vital you get your loan preapproved before you begin searching for a new home. This puts you in a powerful position to negotiate, because you can set limits of what you can afford for your new home. Also, pick the right mortgage for your home and ensure it is one that you can pay easily in the future.
If you want to learn more about mistakes you should avoid when buying a house, check out my YouTube page, and visit Platinumrealestate.com, today.