As purchasing a house is one of the most crucial decisions in the life of most people, it is definitely more than just signing a contract. People not only put their hard-earned money into the whole process, but also their hopes, emotions and expectations. After all, they have to spend several years of their life in the house that they purchase. However, in the course of choosing the best house, many home buyers end up committing costly mistakes, which result in complicating the process further. Listed below are some common home-buying mistakes most people commit, while looking for their dream home and also some ways to avoid these blunders.
* Not getting pre-qualification - A pre-qualification means a mortgage loan officer would review the credit report of the borrower and discuss about his assets and income. The benefit of getting pre-qualified is that you would be able to know if there is any issue in your credit report, which might limit you from acquiring a mortgage. You would also get to know the mortgage programs, along with their down payments, which you qualified for. Not getting the pre-approval, before stepping into the home buying process is one of the most common mistakes home buyers commit, especially the first timers. However, if done in the initial stage, one can have enough time for rectifying the errors in the credit report and make sure that he can easily qualify for a loan that he is interested to apply for.
* Underrating the cost pertaining to home ownership - People, who are buying a house for the first time, usually rejoice to know the proposed loan payment and wonder how cheap it is in comparison to the rent they currently pay. They forget the various hidden costs of home ownership. Property insurance, taxes, roof repairs, landscaping, maintenance of air conditioner etc, are just a ขายอาคารพาณิชย์ few potential costs, which are not included in the mortgage payment. Well, a good thumb rule is to save as much as possible, before planning to purchase your dream home.
* Not examining the neighborhood - Safety in the neighborhood should be your major concern or else you may choose a house where getting out in the evenings may be dangerous. Thus, it is advisable to check the crime rate of the neighborhood, where you are interested to purchase your new house. To check these statistics, you can browse the local websites, offering useful information about different localities. You should also visit the neighborhood several times a day to have a better idea about it.
* Disregarding the importance of home inspection - Well, there are loads of things which a home buyer, real estate agent or appraiser may fail to spot. This is when a thorough home inspection by a professional comes into picture. A reputed home inspector, carrying relevant experience, can immediately find issues and defects with the drainage, roof, HVAC, mold, termites etc. He can competently uncover several hidden issues in no time.
Buying a home is a big financial decision and committing silly mistakes, which can prevent you from buying an ideal home, should be avoided. So, next time when you plan to buy the house of your dreams, make sure not to commit these blunders.
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