Avoid These Mistakes for a Painless Home Sale

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Due to high affordability brought on by low interest rates, we're seeing a lot of first time home buyers out shopping around for homes. In order to help our first time buyers, we're going to be talking about some common mistakes that people make when buying.

1. The very first thing you need to do is speak with a lender. You shouldn't begin the home search process by actually looking for homes, you should speak with a lender to determine if you're financially capable of buying a home. It's very important to know what you can afford, because there are a lot of costs that home buyers forget to think about.
2. A lack of urgency can cause you to lose a home. The market is active right now, so when you see a home you like, you have to go out and look at it early. Sellers also like to see urgency in buyers, because they know that you're interested in buying.
3. Don't make any big purchases after you've been approved for a loan. Once you've been approved for a home loan you can wreck your debt-to-income ratio if you decide to go out and buy a new car or new furniture. We've seen people ruin their transactions by going out and doing a lot of spending after they've been approved.
4. Don't forget about other expenses after you've moved in. This includes things like landscaping, insurance, maintenance, etc. This is why we advise our buyers to buy homes that are in better condition, because it will save them money in the long run.
5. Create a timeline for yourself. Set deadlines for yourself so that the whole process doesn't take forever. You might feel prepared, but there are a lot of obstacles and roadblocks that can get in the way of a transaction, and the next thing you know, you're weeks behind where you thought you would be in the transaction.

Hopefully these five tips can help you to avoid any bumps in the road when you set out to buy a new home. It's an exciting process, but there are many pitfalls along the way. This is why you need the help of a professional when you're buying a home in Southern New Hampshire!