3 Deadly Mistakes
Three Deadly Mistakes Every Homebuyer Should Avoid!
Deadly Mistake #1: Thinking you can’t afford it.
Today, buying the home of your dreams is easier than ever before. Many people who thought that buying the home they wanted was simply out of their reach are now enjoying a new lifestyle in their very own new home. Buying a home is the smartest financial decision you will ever make. In fact, most American and Canadian home owners would be financially broke at retirement if it wasn’t for one saving grace – the equity in their home. Furthermore, mortgage rates are LOWER today than ever and tax allowances favor home ownership, especially first time buyer’s. Real estate values have always risen steadily. Of course there are peaks and valleys, but the long term trend is a consistent increase. This means that every month when you make a mortgage payment, the amount that you owe on the home goes down and the value typically increases. This owe less – worth more situations is called equity build-up and is the reason you can’t afford not to buy. Even if you have little money for a down payment or credit problems, chances are that you can still buy that new home. If just comes down to knowing the right strategies, and working with the right people.
Deadly Mistake #2: Not hiring a buyer’s agent to represent you.
Buying property is a complex and stressful task. In fact, it is often the biggest single investment you will make in your lifetime. At the same time, real estate transactions have become increasingly complicated. New technology, laws, procedures and competition from other buyers require buyer agents to perform at an ever-increasing level of professionalism. For many homebuyers, the process turns into a terrible, stressful ordeal. In addition, making the wrong decisions can end up costing you thousands of dollars. It does not have to be this way! Work with a buyer’s agent who has a keen understanding of the real estate business and who is on your side. Buyer’s agents have a fiduciary duty to you. That means they are loyal to only you and are obligated to look out for your best interests. Buyer’s agents can help you find the best home and the best lender. Best of all, in most cases, the buyer’s agent is paid out of the seller’s commission, even though he/she works for you.
Deadly Mistake #3: Getting a cheap inspection.
Buying a home is probably the most expensive purchase you will ever make. This is no time to shop for a cheap inspection. The cost of a property inspection is very small relative to the home being inspected. The additional cost of hiring an independent certified inspector is almost insignificant. As a homebuyer, you have recently been crunching the numbers, negotiating offers, adding up closing costs, shopping for mortgages and trying to get the best deals. There are no “deals” when it comes to home inspections performed by a professional! You WILL get what you pay for. If its cheap you want, its cheap you’ll get! If you only remember one thing, remember this: Choose your own inspector! Do not let your real estate agent, a patty-cake inspector or anyone else talk you into an inspector. Protect your investment! You are the one paying for the inspection. You can choose anyone you want. Do your research and then make your decision. NACHI certified inspectors perform the best inspections by far. NACHI certified inspectors earn their fees many times over. They do more, they deserve more, and yes they generally charge a little more. Do yourself a favor…and pay a little more for the quality inspection you deserve. Book with me today!