What Are the Most Common Home Buying Mistakes?

Jason Delatte with Keller Williams Realty Bayou Partners

When making a home purchase, there are a few things you should absolutely avoid doing. Today, I’d like to share five of the worst mistakes you can make during the home buying process.

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People are often curious about what they should avoid during the home buying process. Today, I’ve compiled a list of the five worst things to do when buying a home.

1. Shopping without an agent. Thanks to the Internet, we all have access to pictures, videos, and information from properties on the market. However, this isn’t enough. When you become serious about buying a home, it is critical that you work with an agent.
2. Meeting with just one mortgage company. A home is likely the largest financial asset you will have in your life. It’s important to explore your options before settling on a particular mortgage company.
   Working with the right mortgage company will help you understand which costs to prepare for.
3. Making a lowball offer. Everyone wants a good deal. As a result, many people right now are making ridiculously low offers on homes they love. This is simply not a good idea, since it could lead to you losing out on the right property. Make reasonable offers, instead.
4. Forgetting to budget for closing costs. Sellers do have the option to pay some of the closing costs, but buyers should never assume this will be the case. Working with the right mortgage company is going to really help you understand which costs you’ll need to prepare for.
5. Making big purchases before closing. Buying a home is exciting and can put people in the mood to make purchases in general. This is understandable—but you should definitely wait until after closing. These purchases can actually affect your ability to close, since things like your credit are still being evaluated during escrow.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.