Want to buy a home? Make sure you don’t make these 3 mistakes

Are you buying a new home? In all the excitement during this time, you need to take care not to make a few very common mistakes. Here’s how to avoid a problem.

1. Don’t skip the inspection

While a home inspection can cost a few hundred dollars (or more, depending on what you want to have inspected) when you’re buying, it’s still smart to have one. You might think that an inspection is a waste of money if you do a walk-through of the home and see no issues, but inspections can find all sorts of things, like termites, radon, lead and other hazards that aren’t visible to the naked eye. Don’t skip an inspection, because it could end up costing you more if these issues appear later on. 

2. Don’t handle everything yourself

You may have a real estate agent already, but remember that you can work with additional professionals. Home inspectors, real estate attorneys, your agent and others will all work with you to make sure your home is in good condition and is something you truly want to invest in. 

3. Don’t make major purchases right now

Finally, don’t make major purchases. If your credit or financial status changes, it could impact your ability to buy a home. You need to have a specific debt-to-income ratio to buy a home, so it’s necessary to make sure you either improve your financial situation or keep it the same once you’ve qualified for a mortgage.

These are three things you shouldn’t do if you’re ready to buy a home. With the right help and support, and good information, you’ll make better decisions and be able to be happier with the home that you’ve decided to purchase.


To Our Valuable Clients:

The federal government has recently enacted legislation to assist citizens and businesses facing uncertain financial challenges due to COVID-19. We are here to help answer questions and guide you through the details of the various processes to procure financial assistance from our government. The acts are very new and more will probably be coming. But they currently provide for dollar for dollar tax credits for payroll for COVID19 related payroll, cash advances and loans that have tremendously favorable terms and in some cases, total forgiveness of the debt.

Please stay as safe as possible during this terrible crisis and if we can help you with questions about the new federal assistance laws, please contact us.

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