3 Important Tips to Avoid Costly Mistakes When Buying a Home
I love this subject so it’s hard for me to narrow it down to a few. BUT nonetheless, I’ve summarized 3 things you can do to avoid added costs to your home purchase.
- Talk with a professional Realtor: You can discuss with your realtor the different Down Payment Options and also, he/she will help you get connected to a lender before you start looking homes. You will be taken more seriously during negotiations if you have a pre-approved letter. Additionally, this will provide you with important information, so you know what you can and cannot do in terms of finances.
- Don't forget to consider all the other costs: You will have additional costs besides the down payment such as (for example) points to lower your interest rate, closing costs, homeowner's insurance, moving costs. Not considering these costs will give you an unrealistic picture on what you can afford.
- Use a Buyer's Representative: The Seller's agent does not represent your financial interests. But if you have a Buyer's Representative with a Realtor, you will have someone on your side working to negotiate the best price and terms. This will not cost you anything, because it is paid out of the seller's commission, but the benefits are great for a buyer during the search, negotiation and transaction.
Hope you find these tips useful, and like I mentioned, I have many more. Please be sure to subscribe our Lux E-Mag for more relevant real estate and luxury lifestyle content.
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