Five of the most common and avoidable mistakes I see buyers making.
Buying a home is easier when you know about common pitfalls to avoid. Here are the five mistakes that buyers commonly make:
1. Planning a secret price swap. Some buyers get under contract then don’t tell their agent that they want to renegotiate. Sometimes they’ll put it into the home inspection request and be completely unrealistic. Be honest and upfront with your agent. We can only help you if we know exactly what your intentions are and what you’re looking for.
2. Making unjustified, lowball offers. If there’s a $400,000 house that’s worth $300,000, we can justify a lowball offer. This just isn’t the case if it’s actually worth $400,000 and the sellers are getting multiple offers at that price. If you really want that house, you need to take your agent’s advice and bid up to what they think it’s truly worth.
3. Bringing your entourage to your showings. You just want the decision-makers there. Sometimes a decision-maker is a best friend or parent, but you don’t need your designer, architect, contractor, and painter to come on the first couple of showings. They can come during the inspection. You don’t need 10 people giving you their opinion unless they’re truly a decision-maker in your life.
4. Demanding too much attention early on. This is defined by your time frame. If you want to sell your house and buy 12 to 18 months from now, then don’t ask your agent to show you 15 homes the weekend after you’ve had a conversation. Our time is our asset, along with our knowledge. If you’re constantly wanting to see homes, that agent will have to set some boundaries.
5. Changing their mind repeatedly. You need to figure out your must-haves, non-negotiables, and bonus items. If you’re buying together with someone, independently come up with your lists and then come together and compare them. Define what you’re looking for so you can avoid looking at 100 different neighborhoods and so your agent can guide you in the right direction.
If you have any questions or if you’re looking to buy or sell, don’t hesitate to reach out to me.