Buying your first home raises lots of emotions. With so many considerations and processes to navigate, it’s easy to get tripped up in details and make costly errors. Here’s how to avoid some common missteps made by first time New Jersey home buyers:
Don’t Skip Home Loan Qualification
Decided to buy a new home in New Jersey? Make your first stop a real estate buyer partnered with a lending office. Team Nest Builder works with Adam Wizner to set you up for success. With their help, figure out how much you qualify to borrow before wasting your own time and that of a New Jersey home seller. You don’t want to sign a contract only to discover the bank won’t loan you the necessary funds.
Know What You Can Afford
Many first-time New Jersey home buyers confuse what they can afford with what lenders feel they qualify to borrow. If you haven’t already done so, make a list of your monthly expenses before settling on a house budget.
Don’t Focus on the Flaws
It’s fun to dream about the items on your home buyer wish list, but some first-timers have a hard time compromising to meet their budgets. Don’t let outdated features steer you away from a house that otherwise meets your criteria.
Don’t Fall Blindly in Love
You think you've found your New Jersey dream home and immediately develop an emotional connection with it, never mind the leaky roof and creaky floors. You jump to put in an offer, but your helpful real estate agent, like Team Nest Builder, urges you to reconsider. At that point, take heed. Falling head over heels for a home can blind you to its true value or flaws that should be deal-breakers.
Don’t Wait Too Long
Keep Resale In Mind
It might seem preposterous to think about selling a house you haven’t yet purchased, but experts like Team Nest Builder recommend planning ahead. Many buyers don’t factor in features that affect a home’s resale value, like the number of bedrooms or whether the home has a garage or basement, or if the home will suit their future needs---a common mistake. Even if you’re not planning on having children, a home’s location within a coveted school district often leads to higher resale value down the line.
Mistake-Free Home Buying
Additional source: New Jersey Herald