Even though a home purchase is a huge investment, people still tend to some mistakes when they buy their home. Even a person who has purchased several homes can make a few of the more typical home buying mistakes. Many of these mistakes can be avoided quite easily, however, and here's how to get the most out of your home purchase.
Often people forget to really plan prior to searching for a home. Not only do you need to get pre-approval for a home loan, but you need to really decide how much you feel comfortable paying each month for your home. If you are pre-approved for $400,000, this doesn't mean you actually have to spend that much. The pre-approval amount plus your down payment are simply the maximum amount of a mortgage you are able to afford, but you might be hoping to have a bit more disposable income or money placed in savings, and that is fine. Remember that there are other costs aside from the mortgage payment, such as house insurance, property tax and association dues.
A home is just like a person. You can't always judge them by the first appearance. Sometimes a home is outdated but in fantastic shape with a great layout and plenty of space. You must look beyond the ugly wallpaper, the orange shag carpeting, popcorn ceilings and faux wood paneling. That can all be fixed, and the seller's ugly furniture and knickknacks aren't going to be there after you buy the house, so ignore them. On the flip side, a house could look beautiful and perfectly staged, but have real problems. It might not have enough rooms for you or perhaps the roof needs to be replaced. Always look past the way a place looks to really judge whether this is the right home for you.
Once you find a house you really love, don't jump in until you really consider the location. A home on a busy street or across from a school or church might end up being too disruptive to your life. A home too far from shops, stores and restaurants also might end up being irksome. If it's a long drive to work, you might easily become sick of that long commute. If the schools aren't great, this could end up being a problem as well and even if you don't have kids, goods schools equal higher property values. Drive around the neighborhood, glance at the homes and yards of other neighbors. Visit in the early morning, in the afternoon and at night to judge the noise level.
These days, there are plenty of real estate sites that can help you find homes that you might want to buy, but this doesn't mean you don't need a realtor. A real estate agent does much more than simply finding homes for you to consider. They help you negotiate the sales price and deal with any issues that arise during escrow. They are your advocate, ensuring that you get the best possible home at the best possible price. A realtor also can answer many of your escrow-related questions and help you find inspectors, contractors and other service providers.
If you wish to purchase a home in Texas Hill Country, the team at Nixon Real Estate is available to help. They can find great Fredericksburg, TX real estate, Kerrville real estate or homes for sale throughout Texas Hill Country. They also can help you find inspectors and answer questions about closing costs and escrow.
Often people forget to really plan prior to searching for a home. Not only do you need to get pre-approval for a home loan, but you need to really decide how much you feel comfortable paying each month for your home. If you are pre-approved for $400,000, this doesn't mean you actually have to spend that much. The pre-approval amount plus your down payment are simply the maximum amount of a mortgage you are able to afford, but you might be hoping to have a bit more disposable income or money placed in savings, and that is fine. Remember that there are other costs aside from the mortgage payment, such as house insurance, property tax and association dues.
A home is just like a person. You can't always judge them by the first appearance. Sometimes a home is outdated but in fantastic shape with a great layout and plenty of space. You must look beyond the ugly wallpaper, the orange shag carpeting, popcorn ceilings and faux wood paneling. That can all be fixed, and the seller's ugly furniture and knickknacks aren't going to be there after you buy the house, so ignore them. On the flip side, a house could look beautiful and perfectly staged, but have real problems. It might not have enough rooms for you or perhaps the roof needs to be replaced. Always look past the way a place looks to really judge whether this is the right home for you.
Once you find a house you really love, don't jump in until you really consider the location. A home on a busy street or across from a school or church might end up being too disruptive to your life. A home too far from shops, stores and restaurants also might end up being irksome. If it's a long drive to work, you might easily become sick of that long commute. If the schools aren't great, this could end up being a problem as well and even if you don't have kids, goods schools equal higher property values. Drive around the neighborhood, glance at the homes and yards of other neighbors. Visit in the early morning, in the afternoon and at night to judge the noise level.
These days, there are plenty of real estate sites that can help you find homes that you might want to buy, but this doesn't mean you don't need a realtor. A real estate agent does much more than simply finding homes for you to consider. They help you negotiate the sales price and deal with any issues that arise during escrow. They are your advocate, ensuring that you get the best possible home at the best possible price. A realtor also can answer many of your escrow-related questions and help you find inspectors, contractors and other service providers.
If you wish to purchase a home in Texas Hill Country, the team at Nixon Real Estate is available to help. They can find great Fredericksburg, TX real estate, Kerrville real estate or homes for sale throughout Texas Hill Country. They also can help you find inspectors and answer questions about closing costs and escrow.
About the Author:
Pammy McGrath enjoys reading real estate blogs. If you are searching for licensed Fredericksburg real estate agents, or to discover Fredericksburg homes for sale, please check out the NixonRealEstate.com site now.
