5 Things First-Time Homebuyers Should NOT Do

Don’t make these mistakes in your next home purchase.

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When it comes to buying a home, there are always lists about what you should do. However, what about things you should absolutely not do? Today we’ll be going over the biggest mistakes to avoid when purchasing a home:

1. Waiting to get pre-qualified. Don’t go looking at homes and making offers without first visiting a lender. You’re not simply there for a conversation—find out what you’re qualified for with a loan! 

2. Ignoring your credit. They’ll be looking at your credit during the pre-qualification process, so make sure that you maintain a good credit score. If it’s less than stellar, try to make some repairs to your credit before going any further.

You want good service when it comes to such a big financial transaction.

3. Assuming the seller will pay your closing costs. The seller may or may not cover the costs, but you shouldn’t assume they will. Either way, you need to be thinking about your budget and have the money required to potentially pay for closing costs.

4. Thinking all lenders are the same. There are different levels of service among lenders, though interest rates may slightly vary from one to another. However, even if you find the lowest rate, it doesn’t mean the lender will provide you with good service—and you want good service when it comes to such a big financial transaction. Ask your real estate agent for a lender recommendation.

5. Trying to buy without an agent. You need a buyer’s agent to advocate for your best interests. Don’t assume the agent on a For Sale sign will be working to help you. They’re working for their seller, and it’s their job to look out for them—not you!

This is what the Charlotte Mabry Team does—we look out for our buyers’ best interests. If you’re looking to buy a home now or anytime in the future, reach out to us. We’d also be happy to answer any questions you may have and give you more information about anything related to real estate. We look forward to helping you soon.