A buyer’s comprehensive guide to navigating today’s market.

If you’re gearing up to buy a home, you need to know what to avoid to prevent sabotaging your goals. Buying a home in today’s market can be extremely challenging due to higher interest rates, increased home prices, and limited inventory. It’s crucial that you know what to do and what you should avoid to secure your dream home. That’s why I’m here today to share four common buyer mistakes that you need to avoid. 

1. Not getting pre-approved early. One major buyer mistake is postponing the pre-approval process until they find a home they want to purchase. Pre-approval is a lengthy process that you need to do before you start searching for homes. Pre-approval can take 24 to 48 hours, so if you wait until you find your dream home, you might be too late. 

2. Waiting for the perfect property. Many buyers hold out for the perfect property, but it’s important to understand that perfection is rare. There will always be trade-offs regarding location, size, amenities, condition, or price. Waiting for the ideal property might cause you to miss out on great deals where you could build equity over time.

“Focus on what you can comfortably afford.”

3. Buying a house that you can’t afford. Another common mistake is buying a house that exceeds your financial comfort zone. While you might qualify for a higher loan amount, it’s important to focus on what you can comfortably afford monthly. Bankrate advises focusing on the monthly payment rather than the maximum loan amount. Just because you qualify for a $300,000 loan doesn’t mean you can comfortably handle the associated monthly payments alongside your other financial obligations.

4. Not hiring a professional realtor. Attempting to buy a home without a real estate agent can make the process much more difficult. A professional Realtor provides legal guidance, market expertise, and support, saving you time, money, and stress. Having a reliable Realtor like myself increases your chances of finding the right home. 

I would love to have a conversation with you to understand your situation and goals. Together, we can determine the next steps to get you into your new home. Feel free to call me at (269) 350-5514 or email me at sold@veenstrateam.com. I look forward to hearing from you!