1. Underestimating costs. Closing costs, property taxes, homeowners insurance, property inspections, utility bills, home maintenance expenses, moving expenses and possible homeowner dues. Buyers need to have a clear understanding of what their obligations are.
2. Overlooking important financing details. First check your credit report and clean up and issues that may hurt your ability to get pre-approved. Then request loan estimates from several lenders and compare them side-by-side to make sure you are getting the best terms.
3. Not researching the neighborhood. Be sure to consider schools, parks, safety, shopping, near-by farms, quarries, land-fills, anything that is important to you. Check local sex offender websites and use Goggle Earth to see what’s around you.
4. Ignoring resale value factors. Even if you can see yourself living there forever, life changes. It is important to realize how other buyers would react to your house if you need to sell. Avoid a purchase that you may later regret due to location or something hard to change.
5. Not finding a Accredited Buyers Representative, ABR. By completing special coursework, demonstrating prior experience and keeping up with the latest issues and trends, a REALTOR with their ABR designation is a proven skilled professional who can help you achieve the best results.