There are five important mistakes that every homebuyer should avoid making in 2019.
If you’re planning to enter the market to buy a home in 2019, you’d do well to avoid making these five critical mistakes:
1. Thinking that you need to put 20% down. Astonishingly, 49% of renters think that they need to put 20% down in order to buy a home. However, there are plenty of first-time homebuyer programs that require little, if any, money down. Depending on the program, 3% to 5% down is all you may need.
"Unless you’re working with a designer who will build you a custom home, there’s no such thing as a perfect home"
2. Working with an amateur agent. You might have the urge to support your friend or family member who has a real estate license, but if that person also has a full-time job somewhere else, chances are they don’t have the expertise that you really need to rely on when it comes to making such an important decision.
3. Thinking you’ll find the perfect house. Here’s the truth: Unless you’re working with a designer who will build you a custom home, there’s no such thing as a perfect home. You need to have a reasonable expectation of what your budget can sustain, and you also need to be able to make some trade-offs.
4. Writing an offer in the hopes of getting a counteroffer. Over the years, I can’t tell you how many clients I’ve worked with have done this, thinking it might be a powerful way to negotiate. Ultimately, they often lost out on that property and the opportunity it presented. Instead, write an offer for acceptance.
5. Removing all emotions from the homebuying process. We don’t need you to be overly emotional when it comes to finding a home, but there is a lot of value in acknowledging some of the emotions you have about a property.
If you have any questions about this or other real estate topics, please feel free to reach out to me. We welcome any comments, feedback, or suggestions for future video topics.