Purchasing a home is a big deal! It’s a huge move (literally and figuratively) for you and your family that will have significant consequences. If you don’t prepare and use caution in your home buying journey, you could end up in quite a pickle. That being said, if you recognize the following common mistakes, you will be primed for success when buying your Austin home.
Not Being Financially PrepareD
There’s no point in looking for homes until you know what you can afford. One of the biggest mistakes a home buyer can make is looking at homes before you have spoken with a lender. After all, how do you even know if you can afford to buy a home or what your budget for a home is. Unless you are paying cash, your first step in the home buying journey should always be to speak with a mortgage professional. Another common pitfall many prospective home buyers make is to only speak with one home lender. Do yourself a favor and don’t fall victim to this common mishap. When you speak with a number of different lenders, you increase your odds of finding the best rate and the best personality fit. If you need recommendations for Austin lenders, I’m happy to provide recommendations. Just make sure to compare lenders within a two week time period so that your credit only received one hard inquiry.
Wanting it AlL
Before you begin your Austin home search, think carefully about what you must have and what you want it a new home. Make sure to bring in anyone else who will have a say in the home purchase, and compare your lists. Once you are on the same page, it’s important to take a good long look at your list and really narrow down those must-have features. A common mistake I see among Austin home buyers is that they are looking for the perfect house. The perfect house may not exist! Although buying a home is often an emotional decision, it’s also a financial one and you may need to be flexible in your criteria.
Caring More About Features Than LocatioN
Although most Austin area home buyers I work with often have an idea of the location they would like to live in, they sometimes fail to recognize the importance of location over property attributes. Time and time again, I find myself re-iterating that you can change the carpet, you can paint the walls, you can add a double oven BUT you can’t change the home’s location or lot size. Think carefully about the neighborhood, the school district and the attributes of the lot itself.
Have questions about buying a home in the Austin Area? Contact me today.
Erika Rae Albert
Sharing my Austin real estate updates, home owner tips, & more.