Three Home Purchase Mistakes

It's not hard to understand why you'd be excited about signing the deed on a new house. However, eagerness to get the keys to a new house can cause inattention to details that later turn out to be important. To ensure the house you ultimately end up in will suit you for many years, sidestep these pitfalls during your search for homes for sale.  Mistake #1: Waiting for Loan

Many new buyers have more interest in open houses than in meeting with lenders about their mortgage. This can only lead to heartbreak or stress when you attempt to seek funding for a gorgeous property that is clearly outside your range. When you know you're purchasing something in the near future, ensure your immediate consultation is with a mortgage lender. Know what your family can afford.

Mistake #2: Not Asking Questions 

Finally finding a house that you really want can make you somewhat careless. You might want it so much that you fail to ask important questions about its condition, land description and other issues. For example, if they have fences up, you might not think to ask whether a surveyor has verified that the fence is on their property. You may not think to ask about whether the water heater has been serviced recently.

Therefore, do your best to have a master list of questions to bring with you to any meeting with a seller. This will prevent you from being so dazzled by a property that you don't ask questions that can protect you later.

Mistake #3: Ignoring the Neighborhood

With so much focus on the actual structures and land that make up the property, you may skimp on research regarding what could be your new neighborhood. Even if you don't plan to spend much time rubbing elbows with neighbors socially, you'll still need a local grocery store and the area should still be relatively safe for your small kids. 

One neighborhood research tool is the local newspaper. Many communities have free papers distributed each week to restaurants, the library, and other community gathering locations. You can see a crime blotter, listings for public events and other news that describe the character of the area where your house is. 

Another resource is the local police that work for the community. A few discussions with officers who patrol your possible home's neighborhood can reveal information about the prevalence of petty crimes, loud house parties and other things that would affect you as a new resident.

Don't allow excitement to cause mistakes while you seek a home. Make frequent contact with your realtor and similar professionals who can keep your mind on what's important during the process.