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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Common Home Buying Pitfalls to Avoid

Buying a home is an exciting time in the life of many, even if it is not your first home purchase. Our Lake of the Ozarks real estate agents know how important it is to find the perfect home for you and your family. As you start your home search near the Lake of the Ozarks, we want you to be aware of some common pitfalls that go hand-in-hand with buying a home.

Waiting to Get Pre-Approved

The pre-approval process does not take long, but it could lead to a homeowner missing out on making an offer on a hot property. It's best to get pre-approval BEFORE you even start looking at homes. This process helps you know exactly how much you can afford in a home and lets you and your REALTOR® know what price range to search within. Once it comes time to make an offer, a pre-approval letter can help you seem like a more serious buyer to the home seller.

Maxing Out Your Budget

When you do establish a budge for your home search, it's important to keep all of your expenses in check. Many homeowners will find a property at the top of their price range. While this is still within your price range, it can limit your budget for other life expenses.

Too Many Advice Outlets

When buying a home, family, friends, and real estate professionals all try to give their best advice for you to follow in the process. The tricky part is when all of these sources of advise start to contradict each other. Take a step back and really listen to the few sources that you fully trust, when searching for the perfect home for you and your family.

Skipping the Inspection Process

Some loans to not require a home inspection to be completed. While it may not be necessary for your financial source, it's a good idea to pay for an inspection of a property that you wish to purchase. A professional inspector can help to point out structural issues, that you may not even be aware of in a home. It's best to get an inspection to know exactly what the home you are interested in needs to be a safe place for you to live.

Getting Attached to a Home

It's great to find a home that you truly like, but getting your heart set on a certain property early in the process can be frustrating. You never know what will happen with the home - whether it doesn't pass inspection or the seller won't come off the asking price - try to stay positive during your home search and find the right home that is meant to be for you and your family.

Now that you know some of the most common pitfalls, you can work to avoid them when it comes time to search for your dream home. Steer clear of these home buying pitfalls when buying a home at the Lake of the Ozarks. If you are ready to jump into homeownership, contact Eagle's Nest Realty today. We look forward to helping you through the home buying process and help you reach your dreams of homeownership.

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

Eagle's Nest Realty, Inc.                                               Like Us On Facebook

Bill & Sky Johnson                                                            Follow Us On Twitter

33431 Evanston Road                                                       Find Us On LinkedIn

Sunrise Beach, MO  65079                                                +1 Us On Google+