Buying a home is often a very exciting time, as it represents a significant life achievement and financial success. However, new homebuyers can overlook some important considerations in the excitement, leading them to make potentially costly mistakes. The best way to avoid mistakes is call me, I’ll work you through the lending process. Then hire a real estate agent! If you need a GREAT realtor, call or text me, I would be happy to refer you to someone fabulous. 214-532-8479.

1) Getting a home at the top of your budget

When buying a home — especially your first home — it may be tempting to go all out and get your dream house. You will start rationalizing more expensive properties to yourself because you fall in love with them, even if they are over your budget. I work with each client and Design a Loan, that fits the budget…

2) Forgetting about additional homeownership costs

One of the main reasons why you should always stay within your budget is that homeownership comes with many hidden costs. I’ll review your total house payment with you but you’ll have to pay other costs too like utilities and maintenance costs that come with your new home. .

3) Forgoing a professional inspection

The importance of getting a professional inspection before finalizing a sale on a home cannot be overstated, as it can save you from unexpected costs in the future. A house may look like it is in great shape and worth every penny, but a professional inspector can tell you if you will be looking at needing to make major and costly repairs after your purchase. A real estate agent will work with you and review the inspection and ask the needed repairs to be complete, before you move into your new home.

4) Relying on verbal agreements

When buying a new home, you should never rely solely on verbal agreements. It is in your best interest to get everything in writing before agreeing to the sale. Failing to get a seller to agree to your offer in writing can also open the door for another buyer to come in with a lower offer at the last minute and steal the property out from under you! Getting everything in writing is a must. This is another GREAT reason to hire a Real Estate agent. Call me and I can refer you… 214-532-8479.

This will be a fun and amazing time for you. theLoanDesigner.com