Whether you’re buying your first home or your third, we’ll help ensure you don’t let any mistakes trip you up.
Are you in the market for your next home? It’s worth knowing what to look out for and what to avoid when buying a home. After all, you don’t want to end up buying a money pit, taking on too much of a home, or being completely unprepared in the purchase.
Prevent these home-buying mistakes during your next purchase.
Mistake No. 1: Overlooking your credit report
Lenders will take your credit score into account when determining your mortgage, and they will comb through your report to ensure you’re suitable for one. Before you apply for a mortgage, always look over your report and ensure that your score is suitable.
Mistake No. 2: Overestimating what you can afford
Many potential homeowners focus on the down payment and monthly mortgage amount when calculating how much they can afford, and forget to factor in additional costs. Remember to include all of the closing costs, as well as escrow and homeowners insurance services.
Mistake No. 3: Letting emotions get the best of you
Don’t get so attached that you buy with your heart and not with your head. Getting emotionally attached to a house can set you up to spend more money than you can afford, and you may even overlook some of the serious issues with the house that can cost you later down the road.
Mistake No. 4: Not planning ahead
Once you’ve narrowed down your search and are ready to make an offer, check with your agent about the demand. Make sure that you get a thorough inspection from a professional who knows what to look for.
Mistake No. 5: Not asking questions
There’s no shame in admitting that you don’t know what a certain process entails or what a document spells out. It’s no secret that real estate is a tricky business; that’s why the pros are trained continuously. Don’t be afraid to ask questions if you’re unsure or don’t understand any aspect of the process.
When looking for a reliable escrow company, let the professionals at Eastland Escrows handle your escrow needs to take a load off your plate. Visit us in Covina, California today to get started!