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3 Mistakes That Will Make You Lose Your Dream Home

Three common mistakes you need to avoid when buying a new home.

When you find your dream home, you immediately start to imagine yourself living in it and picture your family growing in it. But finding the house you want to buy is just the start of the process—it doesn’t guarantee that you will close that deal. But don’t worry, because today, I will explain to you the three common mistakes that home buyers should avoid, and what they should do to prevent losing their dream home:

Mistake #1: Not getting pre-approved. Once they decide on buying a home, buyers often get caught up in the excitement of searching for homes for sale, and they forget the things they should do or avoid while in the buying process, such as getting pre-qualified. And once they do get pre-qualified, the mortgage may come as a shock. Other times, you may not get pre-qualified at all. So, If you’re planning to buy a home, the first and most important thing any buyer should know is the importance of getting pre-qualified in advance, before you start going to open houses and private showings.

Mistake #2: Looking for a new home before selling your old one. Buyers who need to sell their current home before buying a new one often start the homebuying process before they list their house. What they don’t realize is the amount of time that their house will sit on the market can vary from days, weeks, or even months, depending on the current market trend at the time that they put their house up for sale. By the time they do list their house, they will find out that the seller of the house they plan to buy isn’t willing to wait for the sales process of their home to finish, which ultimately leads them to lose the deal. So, make sure you put your house on the market first before you start searching for a home to buy.

“Getting caught up in the excitement of the sale can lead to mistakes.”

Mistake #3: Making big purchases before closing. When buyers get excited about buying a home, they often start making big-ticket purchases—expensive furniture, a new car, and big financial moves. But doing so will significantly decrease your chances of getting pre-qualified to purchase the property you have your eyes set on. It might also cause a lender to have to go back and pull out additional financial statements, which will slow down the buying process. It is important for buyers to wait until they’ve closed on the deal before making big purchases.

There are so many things that need to be done, or considered, before you get the keys to your new home. Hiring a professional real estate agent like myself would make the process easier for you. So, give us a call today, and my team and I will walk you through everything you need to know and do to buy your home.

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