Here are some of the most common mistakes buyers make and our tips on how to avoid them.
Waiting too long to be represented by an agent: We often get calls from buyers when they have found their “dream home” online. Now – we actually love these calls (so please keep calling).. but it is problematic for the buyers. For one – many times this dream home happens to be someone else’s dream home too.. and if they already have an agent they may be ahead of you in the process. So we really recommend hiring an agent when you first start thinking about purchasing a home (even if it is in the future..). We have worked with many clients who were a year or more out from buying and helped them strategize and get financially ready. So when you start thinking about it speak with an agent!
Buying a home without doing any inspections: Unless you plan on tearing the house down and starting from scratch.. you MUST get at the very least a traditional home inspection. Trust us.. get the home inspection.
Believing they are buying a NEW home.. when it actually is a used home: So we recommend home inspections AND we also recommend being reasonable. Traditionally in your offer you will have an inspection period to do any and all inspections. You will get an inspection report with all of the issues found at the property per the home inspector. I have never once… not even on a brand new home had a home inspection come back without any issues. Now before you read through the issues I recommend remembering that this is a used house (unless it is new construction then we recommend being super super picky).. so there will be issues. I always tell buyers… really focus on the big issues when requesting repairs.. what NEEDS to be fixed before coming into the house and what are some things that you can do over time. For example: an active leak versus an easy cosmetic fix.
Looking at houses they already know or should know won’t work for them: Okay so many times you won’t necessarily know if a house is the one unless you go to the home.. but I cannot tell you how many times I have shown houses that I KNOW will not work on the front end and clients still want to see them. Here is an example if you are adamant on needing a three bedroom house with a yard and want to go look at a one bedroom condo just to “see”… just don’t. Now – this is a little bit of an exaggeration – but I have shown so many houses that I know will not work just by looking at the listing. I actually think in the beginning when you start looking it is good to see a variety of homes in a variety of locations but once you have been looking for a bit you really start to know what you need and want. It really starts to waste your time and can get very frustrating for you when you look at houses that won’t work. So just skip the fixer uppers when you want something move in ready!
Having unrealistic expectations: We really try to work with our clients to set their expectations but many buyers (usually only at first) can have unrealistic expectations. For example, many times your wants do not align to your budget and that is okay! I tell a lot of my first time homebuyer clients: this first home is the way to get to the dream home. But sometimes its not just budget we have had clients who want things that just don’t exist or RARELY are available. Like anything, location dictates a lot of factors of a home. For example if you want to live in the city and you also want that home to be on 5 acres it may not be available. So again it is important to speak with your agent about your want/needs/budget and really hone in on what is possible for your personal situation.
Settling for something you don’t love: I recently showed a client a home and we were walking around and she was looking at everything and was clearly unhappy. While we walked around she said yeah this could work. I told her “Um no. We are not buying this house.. you clearly do not like this. I have never had a client buy a home that they hated… “. Two weeks later we were walking through another home and she was all smiles and super excited we put an offer in and she got it. My point is don’t settle.. even if your perfect home isn’t out there, I promise we can find one you are excited about.
And as always.. if you need anything call us at 615-972-6220 direct or our office 615-541-5114 or email us at lisa@nashvilleonthemarket.com.
xoxo,
Lisa Stigliano | Real Estate Agent & Owner
Nashville on the Market Real Estate
