No one said the home buying process is an easy one. That being said, there are ways to make it easier (or harder) on yourself. For starters, knowing what the biggest mistakes homebuyers make and how to avoid them can make your path to owning a home you love that much smoother.
So, with all that in mind, let's move on to those big mistakes homebuyers make, along with tips for avoiding them.
What are the Biggest Mistakes Homebuyers Make?
Let's elaborate on each of these mistakes to help you avoid making them yourself.
- Not finding a realtor they trust
- Neglecting to consider closing costs
- Making an uninformed offer
How to Avoid the Biggest Mistakes Homebuyers Make
Not finding a realtor they trust
Remember what we said about the home buying process not being an easy one? Well, it's especially difficult if you try to do it on your own or with an inexperienced or ineffective realtor.
So, rather than hiring the first realtor you think of, do your due diligence and learn more about several options before deciding on the one that's right for you. An experienced and trustworthy realtor can make a world of difference in the home buying process.
As for how to go about finding this realtor?
There are a few ways to go about doing your research.
For starters, ask to speak to a realtor's recent clients so you can hear first-hand about their experience. Of course, a good old-fashioned Google search can also bring up a lot of red flags you wouldn't otherwise find about your potential realtor too.
And to save the best for last: use Souqh.ca to find trusted service providers, including realtors!
Souqh helps you find trusted service providers across a pool of storefronts that match your unique needs, along with verified ratings and testimonials from home buyers just like you.
We designed Souqh to help eliminate the stress in the home journey and helping you find the perfect realtor for your needs is just one way we do that. (And did we mention Souqh is free to use?)
(Avoiding the common mistakes homebuyers make also helps you avoid homebuyer's remorse. Learn more about that in this post)
Neglecting to consider closing costs
The next biggest mistake homebuyers make, let's talk about closing costs and the home buying process.
All too often, home buyers get their hearts set on a home before that sinking feeling sets in when they realize the closing costs mean they'll be moving in "house poor."
These costs aren't always a dealbreaker. But knowing what to expect, and accounting for these costs ahead of time, helps you avoid a nasty surprise down the road.
Get a jump start on your research by visiting this post next: Hidden Costs Every Home Buyer Needs to Know About.
Making an uninformed offer
Finally, let's talk about making an uninformed offer.
Often, prospective homeowners get their hearts set on a property. They might overlook plumbing or foundation issues, for example, just because it's in the neighbourhood where they always dreamed of owning.
This doesn't mean they shouldn't make an offer at all, necessarily. However, it does mean you could have more room for negotiation and getting a better deal on the property.
Again, working with an experienced and trusted realtor will make all the difference in the home buying process. They'll help you, AND the homeowner feels like they're winning during negotiations.
Not to mention, homebuyers often make the mistake of letting emotion dictate their offer. But your realtor can help ground you and ensure you're making the most informed offer to get the best deal.
To start browsing the best realtors in your area, click here to sign up for Souqh for free!
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