Buying A Home? 3 Things You Never Want To Do If You Want Things To Work Out
When it comes to purchasing a home, there are a lot of decisions that you must make. The journey that you must take to find the perfect home for yourself and/or for your family is not an easy one or one that you want to take lightly. Therefore, it is important that you familiarize yourself with some of the mistakes that people make so that you don't make them. Now, if you want to have a good experience, there are three things that you want to make sure that you absolutely do not succumb to throughout your home buying process.
#1: Purchasing with a Mountain Load of Debt in Your Name.
If you are in serious debt, or you do not have a solid emergency fund to back yourself up when you find yourself in a huge pickle, then your home buying experience can be ruined in a moment's notice. It is a very wise decision to wait to purchase a home until you have cleaned up your finances and have a few month's of expenses saved up as an emergency fund. This is for your own benefit, as the last thing that you want to do is to find the perfect house, close on it and then lose it a few months down the road because your debt caught up to you and you were unable to make your mortgage payments.
#2: Purchasing without Obtaining a Home Inspection.
Although you can waive the right to a home inspection, the average inspection costs approximately $318, according to 2016 estimates. However, the exact price will depend on your location and the size of the home. The point is that a few hundred dollars is worth finding out whether or not the home has a solid structural foundation and if the plumbing, electrical, heating and cooling systems are all good to go. A home inspection report will provide you with detailed information that lets you know whether you can move forward with the purchase as-is or if you should negotiate a reduced price or request that the seller repair the problems with the home first.
#3: Purchasing via the Listing Agent.
Many home buyers do not realize that they need their own realtor and will instead buy a home through the listing agent of the seller. After all, the listing agent is friendly enough. However, the listing agent is not looking out for the buyer – they are looking out for the seller, which is who pays them. Therefore, as a buyer, you need a real estate agent who is looking out for you in a transaction. This realtor would be referred to as a buyer's agent and would be responsible for finding and showing you various properties as well as helping in the contract negotiations.
For more information and advice, visit websites like http://www.riverandsea.net to get in contact with professional real estate agents.