Top Ten Mistakes Home Buyers Make

1) Forgetting to Set A Budget
      A couple should always sit down together with a worksheet, available online, to help them determine what kind of house payment they can afford. Thirty percent of the couple's monthly income can be reserved for the monthly house payment which will include taxes and insurance as well as principal and interest payments.

2) Forgetting to Get a Credit Report First
     The couple should check their credit scores well in advance of searching for a house, so that any mistakes on the reports can be corrected before any negative content affects the couple's ability to buy a house.

3) Forgetting to Get Pre-Approved
      Getting pre-approved for a home loan is the smart thing for the couple to do. It saves time to know the price range in which they need to stay, and gives them an edge over other bidders who are not approved for loans.

4) Forgetting to Hire a Professional
      A real estate professional can help the couple along every hurdle of the home buying process, especially if they are first time buyers. The couple can save a great deal of time and money by having an agent on their side to help with negotiating and understanding the purchase agreement.

5) Forgetting to Research Agents
      The choice of a real estate agent should require thought and not be made on the spur of the moment. It is very important that the agent understand the needs of the couple who is buying a home, perhaps for the first time. The couple should feel comfortable with the agent, as well.

6) Forgetting to Prepare for Related Costs
      The couple should understand that there are always surprise costs when buying a home. Some, such as property taxes, closing costs and moving costs can be anticipated, but also such things as repairs and maintenance cost may be incurred.

7) Forgetting to be Flexible
      The young couple searching for a home may have a list of things they want a house to have, and they may not always be able to have all of the things on the list. They should be able to compromise and realize which things are the most important to them when it comes to choosing the right home.

8) Forgetting to Research the Neighborhood
      The young home buying couple may find the perfect house, but is it in the perfect neighborhood? Many things must be considered, including commute time, schools, safety and crime, and proximity of shopping areas.

9) Forgetting to Wait for the Inspection
      Many couples are so excited about choosing a home, that they begin making plans right away before waiting for the home inspection to be performed. There may be expensive repairs needed to the home that will change those plans fairly quickly.

10) Forgetting to Consider the Re-Sale
      Although the couple may not be thinking about one day selling the house they are buying today, it is wise for them to consider it. Making sure that the house would have an appeal for a future buyer is always a good idea.

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