Avoid These Top Home Buying Pitfalls

Buying a home is an exciting time for many individuals. Even if it's not your first home, it's still a big deal and should be a task you look forward to completing. As you search around for the perfect home to buy at the Lake of the Ozarks, focus on preparing for the purchase. Eagle's Nest Realty has provided some common pitfalls home buyers experience below!

Timing the Market

The real estate market is ever changing. There is no reason to try to "time" the market if want to buy a home. You have the find the right timing that works for you and your unique situation. If you are ready to buy, that is the right time to start your home search. The market will go up and down on it's own - don't worry about that when trying to buy a home.

Skipping the Pre-Approval Process

Getting pre-approved for a home loan can be a tremendous help. It not only helps to speed along the process once you find the right home, it can help you be seen as a more serious buyer to sellers. It can also help ensure you are looking in the right price range. Once you get pre-approved, you can move forward with confidence!

Passing Up an Inspection

Most home loans will require an inspection to be completed on the property BEFORE completing the purchase. If you are qualified for a purchase without this requirement, it's a good idea to have an inspection done anyway. A professional inspector will look at the structural quality of the home, as well as inspect other home systems that may be included in the sale. This inspection can help you get a better idea of the condition of the home before you make the final purchase.

Maxing Out your Budget

Once you get pre-approved, you will likely have a top-dollar amount you can afford in a home. Many buyers will look at homes at that price point. Many times the amount you are approved for does not take into account your regular spending and other bills you may have. Consider all financial requirements you have before making a home purchase that is over your head.

Listening to Many Opinions

When buying a home, you may have too many advice outlets trying to help you. While most of these people mean well, it can be overwhelming as you navigate the home buying process. Consider which opinions matter the most to you and go with that.

Getting Overly Attached

Once you start searching for a home, try to keep your emotions in check. You may fall in love with a home and not be able to complete the purchase. A number of factors can stop a transaction from going through - failed inspection, loan issues, other buyers. Try to avoid falling in love with a property before it is actually yours.

Now that you've learned about these home buying pitfalls, you can work to avoid them in the future. As you start your home search at the Lake of the Ozarks, you can be better equipped for a smooth home buying process. As your experienced real estate agents in Sunrise Beach, MO, we want to help you find the perfect home to call your own. Contact us today to get started!

Call (573) 374-0769 to schedule a showing today!

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