5 Things Never To Do When Buying A Home
If you’re looking to buy a new home now or in the future, we’ve got some straight talk from our founder and broker, Laura Weisman, to educate you on the 5 things to NEVER do when buying a home. Check them out below, and watch the video for a more in-depth look.
1. Never go straight to the listing agent.
It’s like going into court without an attorney. The listing agent is bound by TREC, the Texas Real Estate Commission, to honor their fiduciary duty and act in their client’s best interest. And you are not their client. The listing agent is not likely to credit you their commission for working both ends of the deal, so don’t do it to save money. It’s also a conflict of interest when the listing agent represents both the buyer and the seller.
2. Don’t hyper-focus on the negatives.
Focusing on the negative never leads anywhere good, and that includes when you’re buying a home. When a house is lived in, it acquires imperfections, and once you move in, you will contribute to this yourself. A house is meant to be lived in. Don’t throw away a house that would serve you and your family well because you nitpicked it to death. And if you need something spotless, contact me about purchasing a new construction home.
3. Never go shopping without getting pre-approved.
If you go house hunting without knowing what price point you are approved for, you’re not only wasting your time; you’re also wasting the Realtors® time and the homeowner’s time. Not to mention, putting down earnest money on a home, and then finding out you can’t get financed, means you will probably lose that money.
4. Be mindful of the neighborhood you’re looking to buy in.
Pay attention to the tax rates, HOA fees, and other costs associated with a neighborhood. These costs can add up very quickly and put you past what you budgeted for your monthly mortgage. Not paying attention to this particular issue can really cost you at the closing table. You may have to back out if you end up over the amount the lender agreed to and end up losing earnest money and be on the hook for other fees.
5. Don’t look at a house as an investment.
There are times that this is important; however, it’s best not to concern yourself with how the home will appreciate or what will be built around the house that may add value in the future. You’re buying a home to live in, make memories, send your kids to school, and so much more. Focusing on if it’s a good investment or not can cost you things that are much more important than money. As Laura says in her video, if you break even when you sell a home, you should be super excited. If you find something you love, don’t decide to buy based on what the house will be worth in five years. Buy it because it will be a fantastic home that will bring you years of joy and memories.
Looking To Buy A New Home?
These home-buying tips will offer you an advantage when navigating the market and start you off on the right foot. If you need help figuring out what’s next on your home-buying journey, reach out to Laura at laura@livinghouston.com or give us a call at 713.799.3014.
