No one likes making mistakes, especially when they happen in what’s likely the biggest transaction of your life – buying a home.
That’s why partnering with a trusted real estate team is so important. Here’s a sneak peek at the most common missteps buyers are making in today’s market and how we can help you steer clear of each one.
Trying To Time the Market
Many buyers are trying to time the market for home prices or mortgage rates to drop. This can be a really risky strategy since there’s so much at play that can have an impact on those things. Economists caution that things like the upcoming jobs report and presidential election could cause the housing market to take unexpected twists and turns. If you find a house you love and can afford to buy it, now’s not a bad time.
Buying More House Than You Can Afford
If you’re tempted to stretch your budget a bit further than you should, you’re not alone. A number of buyers are making this mistake right now.
But the truth is, it’s actually really important to avoid overextending your budget, especially when other housing expenses like home insurance and taxes are on the rise. You want to talk to the pros to make sure you understand what’ll really work for you. We can connect you with professionals who can help you understand exactly what your budget should be so that you’re not overextended.
Missing Out on Assistance Programs That Can Help
Saving up for the upfront costs of homeownership takes some careful planning. You’ve got to think about your closing costs, down payment, and more. And if you don’t work with a team of experienced professionals, you could miss out on programs out there that can make a big difference for you. This is happening more than you realize.
According to Realtor.com, almost 80% of first-time buyers qualify for down payment assistance – but only 13% actually take advantage of those programs. So, talk to your lender about options (and if you don’t already have a lender, we can suggest some great ones). Whether you’re buying your first house or your fifth, there may be a program that can help.
Not Having the Advantage of a Great Team In Your Corner
This last one may be the most important of all. The very best way to avoid making a mistake that’s going to cost you is to lean on a real estate team that will be with you every step of the way to ensure that you’re getting the best deal possible. Reach out so we can start the conversation – we’re here to help!