Nobody likes losing money!
Unfortunately, I see so many home buyers doing that every day…
These are smart and savvy people and they lose 10’s of thousands of dollars $$$ when buying a home and what bothers me the most is that these mistakes are completely avoidable!
I don’t want you to lose money so I put together a quick guide in the hopes that you’ll avoid these costly mistakes. Here we go with the top 3 mistakes made by buyers when buying a home:
1. Don’t buy more house than you can afford.
You should have a budget and your real estate agent should respect that. Well, sadly, not all agents are equal and many will try to… (Yes, you guessed it!) …UP-SELL YOU. They will try to make you buy and move into something bigger than you can really afford. They make more money this way – of course – and you’ll be stuck with a bigger than planned monthly bill. Here’s my 2 cents on it: a few extra dollars $$$ in my bank account is not worth the sleep I would loose knowing that I made you overspend so my advice is that if you have a budget, please just stick to it.
2. Always hire a good negotiator.
When people hear the word NEGOTIATION they immediately think about confrontation. If you want to get the best price when buying your next home you are going to have to hire a good negotiator. Surprisingly, most of the real estate agents out there hate CONFRONTATION – they get uncomfortable and well, guess who pays the price? You do! I for one actually enjoy negotiating for my clients. To me personally, negotiation doesn’t have to be about confrontation. To me, it’s all about getting all the parties to agree and come to a meeting of the minds. And that makes me different than your average agent.
3. You’ll want to hire an agent to represent you.
Most buyers strongly believe that working with the listing agent will reduce the commissions and save them money, right? Wrong! The listing agent is working for the seller and has the seller’s best interest at heart – not yours. Since the seller pays both sides of the commission (listing agent & buyer’s agent) the only one to win in this scenario is the listing agent. You, on the other hand, will most likely end up paying more than what you would’ve paid by having an agent legally represent you and your interests and negotiating the best terms for you.
There you have it! These are only 3 of the costly mistakes I see home buyers making all the time. I really hope this little guide will help you avoid these mistakes when you go purchase your next home. By the way, you can start searching for homes HERE and get in touch with any questions. Always happy to help!
P.S. As a Realtor & Loan Officer, I HELP people just like you find the perfect home for the best price & terms and I’d love to do the same for you when you’re ready!
To start your HOME SEARCH head over to this page: Advanced Search – click here.
Be sure to check out my YouTube Channel for more tips on Real Estate, the Naples Area & more…