Common Mistakes Buyers Make When Purchasing A Home – Pt. 1 Buying an Orange County home? In part two of this four part series we’re going to continue covering some of the common mistakes that buyers make when buying a home, and how potential homebuyers in Orange County, or the rest of the country can avoid making these mistakes.
Didn’t Hire A Real Estate Attorney
Just like hiring an experienced Real Estate Agent is an imperative part of the home process, so is hiring a Real Estate Attorney; this step is important because, an attorney who is experienced in Real Estate will offer objective advice and they are able to handle potentially tough questions that can come with buying a home.
Forgot To Budget For Insurance Costs
Another common mistake that buyers make when purchasing a home is neglecting to budget for insurance costs because, they think that they have enough standard insurance coverage but what they don’t realize is that their standard insurance doesn’t cover them for things like fire, wind, lighting or hail.
Not budgeting for can cost a homeowner hundreds of thousands of dollars in repairs after one disaster; every homeowner should factor in the cost of all the insurance they need during the lifetime of their home, before they purchase it because, insurance is something that will always have to be paid even after the mortgage is paid off.
Getting Too Comfortable With The Realtor
Yes, buying a home can be an emotional experience and it’s often helped when the buyer hires a Real Estate agent but many buyers make the mistake of revealing too much information to their Realtor and this can many times hurt the home buying process.
What are some examples of revealing too much information to the Realtor? Telling the Realtor that the budget is $250,000 and the Real Estate agent shows the buyer homes that are not one penny below their stated budget.
To learn more common mistakes that buyers make when purchasing a home, contact Fred Sed & Associates today by calling: (949) 272-0125.