5 Common Home Buying Mistakes

Posted on Friday, December 8th, 2017 at 4:01pm.

5 Common Home Buying Mistakes

When it comes to buying a home, emotions tend to run high. There are a lot of factors to figure in, and it can be confusing and hard to keep track of everything without getting overwhelmed. REILLY, REALTORS® is here to help make the process as smooth as possible - our experienced team of agents is well-versed in the process of buying and selling homes, so they'll be able to answer any questions you might have and help you achieve your goals.

Here are the top 5 mistakes to avoid when buying a home:

1. Not preparing your financing. - Buying a home is a big financial deal! Before you jump into looking at homes, make sure you have a good understanding of your budget and financial situation. Getting pre-approved for a loan is a great way to show potential sellers you're really interested and also able to pay as soon as the deal is struck, so it's a good idea to meet with a lender sooner rather than later.

2. Going over budget. - It's easy to start looking at homes and find some you're absolutely in love with - but can you realistically afford them? Once you decide what your budget is, make sure you're searching for homes within that price range. If you buy a house with a mortgage payment that is more than you can comfortably afford, you may find yourself hurting for money each month. Our mortgage calculator can help you determine what your payment will be based on down payment, amount financed, and interest rate.

3. Ignoring the neighborhood - Everything about the house may be perfect, but what about its surroundings? Noisy neighbors, neighborhood activities and restrictions, and the commute to your job should all be factors you consider when buying a home. Check out our neighborhood guide to explore neighborhoods in the Austin area.

4. Thinking you can do everything yourself. - We'd all like to think we're pretty self-sufficient, but the reality is, having an experienced real estate agent on your side can help you avoid costly mistakes. Your agent is an expert in the process, and will have your back every step of the way. Listening to a REALTOR®'s advice will make the home buying process much easier for both of you. Check out our team of talented agents here - any one of them can help you with your home purchase!

5. Disregarding the inspection. - Your agent will provide you with several trusted inspectors to choose from to come in and do a thorough inspection of the home during your option period. These inspections will bring to light any possible issues, and can even be used in negotiation if any repairs need to be made. They're worth every penny!

Looking to buy a home in Austin? Contact us today for information and expert advice about Austin real estate.

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