3 Mistakes Every Homebuyer Should Avoid

Mistake #1: Price shopping for your inspection.

Buying a home is one of  the most largest purchases you will ever make. This is no time to price shop for your  inspection. The price of a home inspection is very small in relation to the price of the home being inspected. The additional cost of hiring a licensed and certified inspection company like Pelican State Inspection is almost insignificant.  Do not let your real estate agent, a patty-cake inspector or anyone else talk you into skimping here. When interviewing your inspector ask these questions.

• Are they members of any professional organizations?

• How long have they been inspecting?

• How many inspections did they complete last year?

• What is their background?

• Do they hold any certifications other than their required state license?

• Can they send you a sample report so you can view their work?

Mistake #2: Thinking you can't afford it.

Today, buying a home is easier than ever before. People who thought that purchasing a home was out of their reach are now enjoying a new lifestyle in their very own new home.

Buying a home is one of the smartest financial decision you can make. In fact, most American home owners would be in financial trouble at retirement if it weren't for their one saving grace - the equity in their home. Tax allowances favor home ownership and mortgage rates are more flexible today than ever!

In Northern Louisiana Real estate values have risen steadily. Of course there are always peaks and valleys, but the long term trend is a consistent increase. This means that every month when you make a mortgage payment the amount that you owe on the home goes down and the value of the home typically increases. Why pay rent? You are just helping out someone else instead of yourself. This owe less-worth more situation is called equity build-up and is the reason you can't afford not to buy.

Mistake #3: Not hiring a Realtor to represent you.

People say that buying a home is more complex and stressful than getting married. Real estate transactions are becoming increasingly complicated. For many homebuyers with out a Realtor the process turns into a terrible & stressful ordeal. In addition, making the wrong decisions during this process can end up costing you thousands of dollars. It does not have to be this way!

Work with a Realtor who has a understanding of the real estate business and who is on your side.  Realtors can help you find the best home, the best inspector and the best lender. Buyer's agents have a fiduciary duty to you. That means they are loyal to only you and are obligated to look out for your best interests. Best of all, in most cases, the Realtor is paid out of the seller's commission, even though they work for you!

Trying to buy a home without a Realtor at all is, well... unthinkable.

 

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