We understand that buying a home can seem like a strenuous process. That's why the Helbert Team is here to guide you through the process, from start to finish. When you work with us, you can feel confident knowing that you'll find your dream home—without having a headache along the way. Whether you're a first-time buyer or a seasoned investor, you can always learn from other people's mistakes—so here's the top five you should avoid during your home-buying journey.
Five Buyer Mistakes to Avoid
1. Looking at Homes Before You're Pre-Approved
We get it, you're eager to start your home search—but without pre-approval, you won't know how much home you can actually afford. Pre-approval from a lender allows you to set your home-buying budget and will make you stand out among other buyers, too!
Not sure what type of mortgage loan best suits your needs? You can use our free mortgage pre-qualification tool to determine how much home you can purchase, or you can contact us to discuss financing!
2. Buying a Home That Only Meets Immediate Needs
Many buyers tend to underestimate the size of the home they need or may need in the future. Oftentimes, this decision is based on the fear of spending more money or having a higher mortgage payment.
The reality is that if you intend to stay in your home for multiple years, you have to account for the evolving needs of you and your loved ones. Planning to have children, aging parents who may need to move in later in life, or simply needing more livable space are all things to consider when buying a home.
3. Listing Your Home as For Sale by Owner
Need to sell before you buy? The perceived benefit of listing your home as For Sale by Owner (FSBO) is that you'll save money by avoiding the brokerage fees associated with working with a professional Realtor. However, FSBO listings actually sell for less on average than those listed by an agent.
While listing with an agent does incur commission costs, these costs pale in comparison to the first-rate value Realtors deliver. To understand what our agents do to receive their commissions, take some time to meet our team and learn more about our qualifications!
4. Not Negotiating the Terms of Your New Construction Home
One of the most common misconceptions of buying a new build is that you cannot negotiate the terms. However, that couldn't be further from the truth. Talk to your builder with your agent present to determine what standard features already come in your future home. Using some negotiation skills, your agent could land you additional features for free or have your builder cover the closing costs.
5. Choosing a Home That’s Surrounded by Lower Priced Homes
While you're scrolling through neighborhood homes online, you may find what some would consider a "hidden gem"—a property that's jam-packed with amenities and is priced higher than other homes in the neighborhood.
On one hand, it can beneficial to buy an average-priced property surrounded by more expensive homes. However, it's not as beneficial to own an expensive home surrounded by homes of lesser value—this can actually decrease your property value.
Want to see how much other homes in your neighborhood have sold for? Check out our free reports to learn more.
Land Your Dream Home in the Triangle
Thinking of buying a home in the Triangle? The Helbert Team is here to help! We hope the costly mistakes we provided will make your home-buying journey as smooth as possible. We would love to help you navigate your home hunt—just contact our team today to get started!