the arbor edge

Buying a home is the single biggest purchase you will make in your lifetime. The process isn’t always easy, and little mistakes can lead to costly regrets down the line. Use this list of top 5 home buying mistakes to help you make all the right moves in your home purchase.

1. Not getting pre-approved for a mortgage
   It’s important to know whether or not you qualify for the financing you need. If you look at homes before knowing if you’re financeable and for how much, you could end up with a lot of time wasted.
   
   
2. Not using a buyer’s agent
   A buyer’s agent is a real estate agent that works exclusively for the buyer, negotiating the best possible price and watching out for only your interests in any contract. What’s the best part about using a buyer’s agent? It’s free to you, since the seller pays any real estate agent commission. Arbor Mortgage provides a list of Preferred Real Estate Agents during your pre-approval.
   
   
3. Not getting a home inspection
   Even if the house is brand new, there is bound to be something that needs attention, so never forgo a home inspection. A good inspector will look for possible costly problems, such as mold, structural issues, and hidden damage.
   
   
   
4. Not adding contingencies to your contract
   Never enter into a contract that doesn’t have contingencies in place to protect you. There should be an inspection contingency, allowing you terminate the contract if the house isn’t inspected to your liking. There should also be a financing contingency in case any problems occur with your mortgage financing.
   
   
5. Not researching the neighborhood
   You may be a young married couple now with no children, but what happens when the family starts to expand? How are the schools in the neighborhood? Is it safe at night there? Visit the home at all hours of the day and find out all you can about the town amenities and public works.