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The Top Mistakes to Avoid When Buying a Home

In Denver Real Estate | on August, 21, 2012 | by | 0 Comments
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Mistakes to avoid when buying a home in DenverBuying a home can be a momentous and life altering decision, fraught with excitement, anxiety, stress, joy and sometimes even anger. While many homeowners buy a house with few troubles, others aren’t so lucky as they sometimes make mistakes that could be easily avoided with patience, knowledge, and a little bit of common sense. A Denver Real Estate Agent can help buyers avoid those problems.
If you’re in the Colorado Real Estate market to buy a home, what should you do? What shouldn’t you do? Here are the top 10 mistakes century 21 denver has seen homebuyers make time and again, regardless of whether they’re first-time buyers or in the market for their third house.

  1. Not checking your credit report and score. By law, consumers are entitled to a free annual credit report from the three major credit reporting bureaus, and you need to check your credit before starting your home search.
  2. Not getting preapproved. The next step after solidifying your credit report is working with a lender to see how much of a house you can accord. A Real Estate Agent in Denver, CO can help you do that.
  3. Over estimating how much you can afford to spend on Real Estate in Colorado. A good rule of thumb is to not spend more than a third of your monthly income on housing costs, including mortgage principal, interest, taxes, and insurance.
  4. If you’ve underestimated how much you can afford, what about other obligations like the cost of taxes, insurance, utilities, and fees? Others include appraisal fees, escrow fees, homeowner’s insurance fees, and property taxes.
  5. Turning your back on a professional. Consumers can buy homes on their own, even directly from a buyer, but a trained realtor denver normally makes the process less stressful and more productive.
  6. Picking a Denver Realtor without verifying qualifications. Many buyers mistakenly choose a friend or family member, or pick a realtor who was recommended – but never bothered to interview the agent first or ask for references.
  7. Believing you’ll get everything on your “wish list.” Home buyers are often starry-eyed, assuming they’ll get the home of their dreams, often without doing a reality check first. Create a list of must have features, throw in a new nice to haves, then work with a lender and realtor to see what fits within your budget.
  8. Working with a seller-chosen home inspector, rather than hiring their own. It’s critical that a buyer make a dispassionate decision about hiring an inspector, then make it known their decision to buy a home rests with the inspection results.
  9. Moving into a community or neighborhood without researching it. A travel agent denver may be able to pair you up with a real estate company denver. If you have children, how are the public schools rated? What sort of services do your tax dollars provide? Weekly trash collection? A community center? Are police and fire services shared with another town? How nice do the neighbors seem?
  10. Not considering how much your new home may sell for. For most buyers, that’s the furthest thing from their minds, but needs to be considering when buying a new home. What is the historical value of homes in your neighborhood? Have they retained their value? Does your home and community offer features and amenities a future buyer will find attractive?

It’s only natural to make mistakes when buying a home, but a Realtor in Denver can help minimize those risks and make home buying more pleasant for everyone involved.

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