Mistake #1. Not Getting Pre-Qualified for a Mortgage This can save you hours of searching for homes in the wrong price range or worse, purchasing a home and then finding out you don’t qualify for financing. Pre-qualifying gives you peace of mind, helps narrow your search criteria and most importantly, gives your agent a negotiating edge by being able to alleviate the sellers concern over financing. The latter is especially important should a competing offer surface. 

Mistake #2. Not Being Able to See the House Past Its Appearances Potentially this is a two-pronged issue, and both can be problematic. The first scenario is finding a house that is updated with beautiful finishes, fixtures, and is decorated beautifully. Buyers can get so connected with looking at the superficial details and forget about things that they can’t change about the house like the location, or that it’s on a busy street. It can also be the reverse: Home Buyers may overlook at a home that needs some paint and cosmetic updates, but that has great bones and a good location. When shopping for a home, keep in mind cosmetic details can be altered, as well as issues being expensive or impossible to fix. 

Mistake #3. Not Getting Professional Inspections Nobody wants to purchase a home only to find out later there are defects, latent or otherwise. Ensure you obtain inspections where needed. If the inspection identifies deficiencies your agent may be able to negotiate the purchase price to cover the required repairs or make your satisfaction of the inspection subject to the homeowner remedying the problem. 

Mistake #4. Not Using a Professional Real Estate Agent. Who you choose to represent you can make a HUGE difference. Your agent can help you make a purchase with the least amount of problems. He or she can ensure the price you pay is market value. They can offer expert advice on what to look for, conditions to include, negotiation strategy, etc. Find someone who makes you their #1 priority. 

Mistake #5. Buying First Before Selling IF price is important, you should always sell your present home before buying another. It has the advantage in letting you know exactly how much money you will have available for your next purchase. Selling your home first allows you to place fewer conditions on your purchase which makes your offer more attractive to a seller. 

Mistake #6. Not Knowing the Full Cost of Home Buying Know all the costs associated with your purchase. Consider the following costs: legal fees, transfer tax, property taxes, etc.