MISTAKES TO AVOID WHEN BUYING A HOME
Make sure you cover this checklist of mistakes to avoid when buying a home.
- Not having a realtor. You’ll want a seasoned real estate professional to guide you through what can be a complicated home buying process.
- Not having an inspection. A good home inspection can shine a spotlight on needed repairs — before you own the home and have to pay for all of them.
- Not taking care of your credit. Without a decent credit score (a FICO credit score of 660-or-over is recommended) you’ll have problems getting a home mortgage. Take care of your credit health first before buying a home.
- Not getting pre-approved for a home loan. If you set your sites on a dream home without the backing of a pre-approved home mortgage, someone who does have their mortgage pre-approved may beat you to the punch and buy the home out from under you.
- Buying “too much house.” Overpaying for a new home can set the stage for years of worrying about covering the monthly mortgage payment and stop you from truly enjoying your home ownership experience. Only buy a home you can afford, and never talk yourself into buying a home for more money than it’s worth.