lessphp fatal error: expected color value: failed at `uttons.less";` /home/equitysmart/public_html/wp-content/themes/theme44205/bootstrap/less/bootstrap.less on line 37 Mistakes Seasoned Home Buyers Often Make - Equity Smart Realty

Mistakes Seasoned Home Buyers Often Make

It's common today to move several times during adulthood, whether across town or the country. Seasoned home buyers have been through the real estate process, often more than once. However, even if the home purchase has become routine, some mistakes can be avoided. 

Stuck in the Past

The real estate market doesn't stand still. It cycles and shifts, so it's crucial to rely on a real estate professional who can guide you through the current market. Home buyers with property purchased ten years ago likely will have a different experience buying today. Don't get stuck in the past, thinking the process will be the same. It may, but it's essential to be ready for changes and have the support of a professional.

Skipping Homework

Whether upgrading to a larger home to accommodate a growing family or downsizing as the nest empties, it's crucial to thoroughly research before placing the current home on the market and committing to a new one. Certain homework must be done before buying, primarily if the purchase relies on the current home's sale. This preparation will make you feel more confident and prepared for the process.

  • Determine if you are buying with cash or need to sell the current home.
  • If there is a need to sell the current home first, will the seller of the new home offer contingency?
  • Is a flexible timeline needed to close on the current home/buy a new one?

Working out these critical details can be daunting, even for seasoned home buyers, which is why having a trusted real estate agent can be helpful. A real estate agent can provide valuable insights into the local market, help you navigate the complex paperwork, negotiate the best deal, and more. They can be your advocate and guide throughout the home buying process. 

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Allowing Emotions to Lead

Maybe the current house wasn't the 'forever' home. Seasoned home buyers, like first-timers, can find themselves lost in emotions when searching for the perfect house. This is a pitfall every home buyer should work to avoid. The home may have some of the desired features or be in the ideal location, but if it doesn't fit the budget or has other issues, there are better ones. For example, if you fall in love with a house that is over your budget, you might end up in financial strain or have to compromise on other aspects of your life. It's important to stay rational and consider all factors before making a decision.  

Overextending Resources

Home buying is an exciting experience, and getting caught up in the process can be easy. However, overextending resources can make life after the purchase difficult. To help protect against overextension of resources later, always factor in the following when buying a home:

  • Budget
  • Time
  • DIY abilities

Overextending on budget can directly affect the ability to make any needed repairs, and if schedules are hectic, there might need to be more time for projects. In addition, it's important to take stock of DIY ability honestly, and it's okay to acknowledge that some jobs/repairs will require professionals or some level of assistance. 

Guidance

The key for seasoned home buyers and first-timers is to never hesitate to ask questions. This is your journey, and it's important to feel empowered and informed. Make lists, and rely on professional help from a real estate agent. This will make you feel more in control and confident in your decisions. 

If you're looking for a home, contact one of our real estate professionals for more information. We are happy to help. Call us at 888-670-6791 or visit www.askthelawyer.us to schedule an appointment.

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