Buying a home can be daunting, but only if you let it. Getting your dream home is an exciting time in your life, but you have to be careful with your decisions to make sure that you do not sabotage your home purchase.
If you have already been pre-approved for a mortgage and have started your search for homes for sale in Pleasanton CA with an agent, then you are off to a good start. You have to be careful though, many home buyers tend to fail along the way by doing things they’re not supposed to do before, during or after the home buying process.
If you don’t want to sabotage your home buying experience, take note of the following things you shouldn’t do:
MISTAKE # 1: Assume that Getting Pre-Approved for a Mortgage is Valid Forever
Never assume that once you have been pre-approved for a mortgage, it’s valid forever. Getting pre-approved involves a lot of complexities, and the reality is that not all lenders will take the time to explain these things to you. To determine if you can get a mortgage and how much you can borrow, they will need to verify your job, income, credit score and debt-to-income ratio numerous times throughout the process, up to the day you close on a home. This means you can’t open new credit lines, use your credit card, and have late payments until the deal has been finally sealed.
MISTAKE # 2: Assume that the Home of Your Dreams Will Wait for You
When your dream home hits the market, expect many other prospective home buyers to flock to it. If you think your dream home will wait for you, then you are wrong. Don’t expect it to be for sale next month or by the time you are no longer too lazy to get started with the home buying process. If you already have the means to buy it, go get it before someone else does.
MISTAKE # 3: Make a Lowball Offer
Always keep in mind that you are not the only buyer who wants to own your dream home. You have a ton of competition who will go the extra mile just to get the same property. Because of that, you shouldn’t settle for making a lowball offer. If you do that, you might lose your dream home to someone who is willing to pay more for the property.
MISTAKE # 4: Ask for Too Much From the Home Seller
While it is possible for the seller to prefer the buyer who is willing to pay more for the property, don’t assume that writing a full-price offer will already guarantee your success. Remember that there might be somebody out there competing for the same house. While his offer is a bit lower than yours, the seller might see him as the better buyer just because he’s ready to close within 60 days and you’re not, or because he doesn’t have as many demands as you do.
MISTAKE # 5: Skip the Home Inspection
Don’t think that organizing a home inspection before you move in won’t do you any good. Every home has issues, so it helps to get an inspector to check all the code violations of the house and recommend repairs. Once you buy a home, you are already the owner of that home so you can’t expect the previous homeowner to take on the job of paying for all the needed repairs.
MISTAKE # 6: Search for More Homes Shortly After Becoming a Homeowner
Some home buyers tend to have premature buyer’s remorse shortly after they have already settled everything with the seller. This is a big no-no. If you are just weeks away from becoming a homeowner, stop shopping for homes and daydreaming about the “what-ifs” when a home that seems to be better than the one you’re buying suddenly appears on the market. If you don’t want to start all over again with the stressful home buying journey, just focus on your new home and what you can do to improve it.
If you are looking for Pleasanton CA homes for sale, call Doug Buenz at (925)-621-0680. He is your top real estate agent in Pleasanton CA and he will help you achieve your dream of becoming a homeowner in Pleasanton CA.