Buying a home is an exciting journey, but it’s also filled with potential pitfalls that can turn your dream into a nightmare. As experienced Realtors with over 40+ years each in the industry, serving the New Hampshire Seacoast and southern Maine markets, Ann and Jim at RE/MAX Shoreline in Portsmouth, NH have seen it all. Here are the four biggest mistakes many homebuyers make and how to avoid them.
Mistake 1: Not Getting Pre-Approved for a Mortgage
One of the first steps in the homebuying process should be getting pre-approved for a mortgage. Failing to do this can leave you scrambling when you find the perfect home, only to realize you’re not financially prepared.
Without pre-approval, you might miss out on your dream home or lose negotiating power.
We recommend starting the mortgage pre-approval process early. This not only helps you understand your budget but also shows sellers that you’re a serious buyer. A free copy of our buyer’s guide, There’s No Place Like Home, will answer many of your questions about mortgage and the home buying process. Click the link to get your free copy.
Mistake 2: Skipping the Home Inspection
A home inspection is crucial for uncovering any hidden problems with a property. Skipping this step can lead to unexpected and costly repairs down the line.
Hidden issues such as structural problems, faulty wiring, or plumbing issues can lead to significant expenses.
Always invest in a thorough home inspection. We suggest being present during the inspection to ask questions and get a clear understanding of the property’s condition.
Mistake 3: Overlooking Additional Costs
Many homebuyers focus solely on the purchase price of a home, forgetting about the numerous additional costs that come with homeownership.
Underestimating costs like closing fees, property taxes, maintenance, and utilities can strain your budget.
Create a comprehensive budget that includes all potential expenses.
Mistake 4: Not Working With An Experienced, Local REALTOR.
Working with experienced local Realtors like Ann and Jim from RE/MAX Shoreline offers numerous benefits. Their deep understanding of the local market allows them to provide tailored advice and insights, ensuring you make informed decisions when buying. Ann and Jim’s extensive network and community connections mean they can quickly identify potential properties that perfectly match your needs. Their commitment to personalized service combined with their many years of successful experience guarantees a smooth and successful real estate experience, making them your trusted partners in navigating the real estate landscape.
