Common Mistakes Buyers Make When Purchasing A Home – Pt. 3

Home Buyer Mistakes – What Mistakes You Want To Avoid When Buying A Home

Buying a home is one of the most exciting things that anyone will do. Once a home has been purchased, there’s nothing better than coming home to a place that you own. The reality though is that most home buyers make the same mistakes that could have been easily avoided, cost home buyers hundreds of thousands of dollars per year.

In part three of this four part series were going to cover the most common mistakes that home buyers make to help homebuyers in Orange County and across the United States avoid making these common pitfalls.

Having Too Much Optimism  

Every homebuyer in Orange County wants the home buying process to go quickly and they have a goal or timeline to have their home purchase wrapped up in 45 days or less but the reality is that buying a home, from start to finish, can take up to 60 days (or more) so it’s always wise for a home buyer to be prepared to be patient during the home buying process and not get depressed when it takes longer than they expected.

Lack Of Finance Education

Many first time homebuyers lack a fundamental understanding of how the mortgage finance process works. Due to that lack of knowledge, they are making themselves an open invitation for lenders to charge them more money during the lifetime of their mortgage loan.

Home buyers can save thousands of dollars on their mortgage by simply researching common mortgage industry terms, in advance so they can speak their lenders language, know what type of loan to look for and avoid getting trapped in a loan with a high APR or signing a loan that will not provide them with enough money that they need to make repairs to their home after they purchase it.

To learn more about the key mistakes that buyers make when purchasing a home contact Fred Sed & Associates today by calling (949) 272-0125.

Common Mistakes Buyers Make When Purchasing A Home – Pt. 4