If you’re a first time home buyer, you know how overwhelming the whole process can seem. Buying a home should be an exciting time in your life, and shouldn’t cause you any extra stress or anxiety. Here are a few common first time home buying mistakes you should be aware of. Being aware of these common mistakes can help prevent you from making them, too!
1. Get professional advice! Don’t be afraid to talk to professionals, ask for advice, ask for help, and take your time. A housing counselor or credit counselor can help you review your credit and help get you ready to apply for a loan. When it comes time to start looking at homes, make sure you have a local real estate agent who is familiar with your market and your needs.
2. Educate yourself about the home buying process beforehand. There are a lot of steps to the home loan process and the home buying process. It can be confusing and overwhelming, and as a first time buyer, you don’t know what you don’t know. Learning about the process can help things go more smoothly and can help you to feel less stressed.
3. Avoid looking at homes you can’t afford. Be very familiar with your income, your expenses, and how much a mortgage will actually be each month once all is said and done. Looking at homes you can’t afford may end up in disappointment or a mortgage you can’t afford. Remember, just because you are approved for a certain loan amount doesn’t mean you have to spend the whole amount.
4. Make sure to compare mortgage quotes. There are many lending companies available to you, so make sure you shop around. Your mortgage quote needs to be competitive. Comparing quotes can ensure that you get the best possible quote available to you.
Check Right Home Inspections is a Cherokee County Home Inspection Service that provides home inspections to the residents of Cherokee County GA and surrounding areas.