Buying A Home
When it comes to buying a home, it is crucial to cover all of your bases. In fact, you can never be too prepared. Unfortunately, many people fall into common errors that can easily be avoided. At Venture Title Agency, we have your back through every step of the home buying process. Here are five mistakes to avoid when buying a home.
Buying When Renting Is The Better Option
First off, buying a home at the wrong chapter of your life can be an easy mistake to fall into. Have you considered how long you plan on staying in that home? Alternatively, are you prepared to cover emergency costs that often arise such as floods and other damages? Sometimes, renting is just the better option if you plan on moving elsewhere within a few years or aren’t financially prepared.
Skipping The Home Inspection
When the home you are interested in looks perfect, you might not even consider paying for an inspection. However, this is an all-too-common mistake. The inspection process is vital to covering all your bases and catching any last minute issues. Moreover, it will give you peace of mind that you are making the right decision when it comes time to buy.
Not Being Pre-Approved
Simply put, your potential seller will not take you seriously if you do not get pre-approved. Being pre-approved by a lender shows the seller you are qualified for a mortgage. In fact, some realtors will flat out refuse to entertain anyone who has not gone through the pre-approval process.
Knowing What You Want Vs. What You Need
This is a common mistake for first time home buyers. Having a list of must-haves is important. Additionally, it is a good idea to know what would be nice but you could hypothetically live without. Knowing “wants” versus “needs” will save you a lot of headaches and disappointment in the long run.
Not Being Prepared For Down Payments
Without a doubt, being prepared for your down payment is essential. In fact, your down payment will be, at the very least, five percent of the total. If you are not ready for that, it is time to prepare. Moreover, having money left over for additional costs and potential emergencies is just as important.
You Deserve A Perfect Closing Process
At Venture Title Agency, we understand that buying, selling or refinancing a home is likely the largest financial transaction of your life. We take your trust seriously and work hard to assure your closing is complete, correct, and on time. With us at your side, you can feel prepared and relaxed for your closing day knowing everything is in order and on time. Contact us today to learn more!