Millennial home-buying and gift funds

Mistakes to Avoid When Buying a Home

Shaun Martin, of Watson Buys in Denver,  puts together some great points on what to avoid when buying a home. These mistakes can end up costing you a lot of money after closing

>Avoid Mistakes Bhen Buying a House

Make sure to get a thorough home inspection. Don’t skimp on those inspections. When buying house or investment units you should consider getting a separate inspection of the some of the following if you are unsure of the condition: sewer line, foundation, electrics, plumbing, roof and chimney if applicable. A for a condo, if the inspector has questions, you might consider electrical, plumbing and chimney. And if there is any suspicion of mold, that also. You don’t want to find out that there is a problem which is going cost you thousands of dollars. Your Realtor® will be able to recommend the appropriate people.

You should not start your search before talking to a lender. Knowing not only what you can afford but what budget you are comfortable with is key to a stress-free buying process. Also you do not want to enjoy your new home while being house poor.

Avoid buyers’ remorse. Be sure why you want to move and where and how you want to live. Are you downsizing? Do you want to live in a certain neighborhood? Are you going to miss your current living situation. Moving is a big decision. Make sure it is the right one.

Take your time to find the right home. You may find one you love on the first day, but don’t settle. Moving again because you are not happy is going to cost you. Be sure this is the right home for you.

By the same token you may not find a home that meets 100% of your criteria. Make a list of must-haves and wants, and work with that. Imagine what you may be able to change and what you won’t. If a view is important, for instance, that you cannot change. Bur you may be able to add an extra bathroom or reconfigure the home. If the price is attractive enough and you can make those changes over time don’t walk away.

If you are thoughtful about the steps you take towards buying your new home you will have no regrets.

Enjoy your new home!

Scroll to Top