home-buyersBuying a home can be a difficult process. But you don’t want to make it even more difficult by making one of these common home buying mistakes.

The first big mistake you want to avoid is not trusting or confiding in your adviser. Sometimes people get overconfident when buying a home, and make the mistake of witholding important information from whoever their adviser happens to be. This could be a real estate lawyer or real estate agent. But it can be a huge mistake to not give them all of the information.

If they don’t have all the information, they will be unable to help you. If you’re anxious about how you’ll be perceived, don’t worry about it. Real estate agents and lawyers have heard it all before, and have an obligation to represent your best interests.

Another common mistake that is easy for home buyers to make is to change their financial situation after the loan application has been completed. Once that loan application has been completed, you absolutely must not purchase anything on credit or with a credit card. This includes automobiles, furniture, expensive appliances or any of the things you might be considering for your new home. This is because slight alterations in your credit ratios can cause your home loan to be thrown out or denied by an underwriter.

You do not want that to happen to you. After all, depending on the timing, you might even lose your earnest money deposit along with your loan.

Lastly, you want to avoid a really tragic mistake about the home you purchase. You don’t want to purchase the wrong house for you; after all, you do have to live there.

Before buying a home, make sure you’ve really thought about what you want and need in your new home, as well as the things that you believe you can live without. You don’t want to overlook something and have it come back to haunt you after you have already purchased a home. Things that might seem small, like an adequate number of bathrooms for your family’s size, or the amount of space in the kitchen if you plan on using your kitchen a lot, can actually be really huge issues later on. So it’s better to consider those things ahead of time, and save yourself time, money and a lot of stress.

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This is filed under Home Buying.


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