A lot goes into buying a home, from choosing the right location to staying within budget. These decisions apply intense pressure on you and your family. Avoid buyer’s remorse and maximize the next few years of living by avoiding several common mistakes.
Using the Wrong Agent
Real estate agents are designed to facilitate the home-buying process, which becomes hindered when you select the wrong agent. Homebuyers commit an all too prevalent mistake by hiring a traditional agent. Though one may be experienced and knowledgeable about the relevant housing market, the same agent may be representing both the seller and buyer. Such a conflict of interest on the agent’s part can deter you from negotiating the best deal possible.
Avoid this headache by enlisting the help of an exclusive buyer’s agent, a professional who works only for you, the buyer. Such an agent keeps your financial information and motives confidential in order to reach a deal best serving your interests. In addition, exclusive buyer’s agents perform market price comparisons, educate you on market conditions, and fulfill their fiduciary duties to instill you with confidence going into negotiations.
The process of buying real estate produces excitement, emotions and anxieties all at the same time. Therefore, be careful to not get ahead of yourself. For instance, avoid shopping before obtaining a pre-approved loan. You can waste valuable time as you discover your inability to afford some of the homes which capture your impulses.
By gaining pre-approval for a mortgage, you acquire parameters for knowing exactly what you can spend on a home, thereby streamlining your search to save both time and energy. A clear definition of affordability also reinforces your confidence and motivation to find the right home. It makes your search more enjoyable because stress disappears as your vision of an ideal home inches closer to fruition.
You’ll need to know your credit score before seeking pre-approval. A good credit score is anything around 700-749. You also want to demonstrate your employment stability and try to pay down any debt you’ve accumulated over the years. Zero debt is not required to qualify for a mortgage loan, but it improves your odds of attaining desirable interest rates over the long term.
Find your ideal piece of real estate at the right price by remaining knowledgeable and by avoiding the common pitfalls known to historically trip up so many other homebuyers. Exclusive buyer’s agents are also more than ready to assist you along the way.
Housing Solutions Real Estate, LLC, ONLY represents your best interest when looking at any homes for sale, be it in Lebanon, or any of the Upper Valley areas we serve. Call us today for a no-obligation consultation, or to have any of your home buying questions answered. 603-643-4800.