Top 10 Mistakes To Avoid When Buying A Home

cfe2d309a8b5002fccd8_Missyeditorial.jpg
cfe2d309a8b5002fccd8_Missyeditorial.jpg

When you’re new to the real estate market and looking to buy your first home, the process can be overwhelming. Here are ten mistakes to avoid when buying your first home.

Not Getting Pre-Approved for a Loan

Don’t skip this step. Forgetting to get pre-approved for a loan is like going grocery shopping without a list. Getting pre-approved for a loan gives you a concrete idea of what you can afford in a house and will help you know what areas to shop in.

Sign Up for E-News

Choosing the Wrong Realtor

A real estate agent is your greatest resource during the buying process, so it’s important to choose one that best fits your needs. A good agent should be looking out for your best interest, not just focused on making a sale. 

Putting in a Poor Offer on a House

When you are ready to make an offer on a house, be smart. Consult your real estate agent. They will be able to tell you if a home is priced too high and if you can get it for less, or if you should offer the full listing price. If you make too low an offer, the seller might not take it seriously and you could risk losing a home you love.

Neglecting the Home Inspection

A home inspection is one of the most important steps in the buying process, and it should not be ignored. A home inspection gives you an overview of the quality of the house you are buying. It can alert you to issues or problems that need to be fixed before you close the deal on your new home. 

Putting All of Your Money Toward a Down Payment

When buying your first home, do not put all of your savings toward your down payment. Make sure you’re considering closing costs, inspection fees and other miscellaneous costs and be sure you have money set aside for them.

Misunderstanding the Costs of Buying a Home

The cost of a home isn’t just about the listing price. Consider closing costs, paying for home inspections, making repairs to your new home, buying furniture and the millions of other aspects that come with home ownership. Are you ready for all of that? Make sure you can stay afloat before diving into the deep end.

Buying More Than You Can Afford

This mistake can lead to a lot of regret and financial downfall. When buying your first home, make sure you can afford it. Don’t stretch your dollar as far as it will go just to get the house with great curb appeal, gourmet kitchen or walk-in closet. You can add most of those things to your home along the way, so don’t make the mistake of stretching your wallet too thin.

Forgetting About Property Taxes

You know you can afford to buy a house, but can you afford the town you want to live in? Explore the property taxes in the different towns where you might purchase a home, and make sure they fit into your budget.

Forgetting to Consider Resale Value

Resale value is important when you’re buying your first home. Buyers tend to stay in their first home for about four or five years. When buying your first home, make sure it is optimized for resale. If you wouldn’t buy a house with an outdated kitchen or bright green walls, chances are no one else will either.

Getting Too Emotional

Buying your first home is a stressful and emotional experience, but don’t let your emotions get in the way when making decisions. Getting too emotional may lead to a decision you might regret later. Make your decisions with your head, not your heart.

 

 

As your neighborhood resource, my real estate blogs are filled with advice and weekly triumphs and troubles that the road of real estate leads us through. Let me be your guide, I can provide you with the local market expertise and knowledge to give you the best advantage in today's market.

Missy is the manager and sales associate for RE/MAX Properties Unlimited in Morristown and has been a neighborhood sales specialist for 9 years. Contact Missy at missrealestate@optonline.net.

"Move with Missy" .... the name you can trust for all your real estate needs.

The opinions expressed herein are the writer's alone, and do not reflect the opinions of TAPinto.net or anyone who works for TAPinto.net. TAPinto.net is not responsible for the accuracy of any of the information supplied by the writer.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Randolph

Winter Forecast for 3-5 Inches Continues through Early Sunday Morning in Randolph Area

February 17, 2018

RANDOLPH, NJ- A winter weather advisory remains In Effect From 4 pm this afternoon to 4 am Sunday according to the National Weather Service.

Total snow accumulations of 3 to 5 inches are  expected. 

Snow will quickly overspread the area from the southwest, becoming moderate to potentially  heavy at times this evening.

The snow should be finished by 4 a.m.

Plan ...

Randolph PTO Council Presents  “ALL IN” FUNDRAISER Featuring The Nerds

February 12, 2018

INVITATIONS ARE OUT!!

Randolph PTO Council presents our  “ALL IN” FUNDRAISER at the

Hanover Marriott, Route 10 E Whippany, NJ

Friday March 16th ~ 6:30pm - 11 pm

Featuring the band “THE NERDS”.

The Grand Raffle this year features fantastic prizes donated by generous local businesses. A $10 ticket gives you a chance to win a $5000 diamond ...

Morristown Happenings: Things to do in Morristown this Weekend

February 16, 2018

MORRISTOWN, NJ -  What do you have planned this President's Day Weekend?  Check out history at Washington Headquarter's new Discover History Center, take a glass blowing class, try your hand at a maple sugar demo or cheer for Morristown athletes as they compete this weekend. Whatever you chose, have a great weekend everyone!

 

Friday February 16

Yoga & ...

January Randolph Police Blotter Includes Many Outstanding Warrants

February 15, 2018

Jan 3, Janeth Ladino-Varon, 45, Randolph was arrested for an outstanding warrant issued by the Randolph Twp Municipal Court.  .  The defendant was processed and released.

Jan 10, Patrick C. Lake, 30, Denville was arrested and charged with burglary, criminal attempt and criminal mischief.  Lake was processed and transported to the Morris County Correctional Facility.

Jan 15, ...

Randolph Mayor Reflects on Interests and Concerns of Residents

February 15, 2018

I hope that everyone is enjoying the winter weather here in beautiful Randolph Township! It’s a wonderful time to enjoy many outdoor activities with family. From ice skating to sledding to skiing, it’s our varied seasons that attract so many to our wonderful community. Just be sure to stay safe. Do not ever go out on thin ice, and be careful when heading down those slopes! For those ...

Morris County School of Technology Teacher Nominated for National LifeChanger of the Year Award

February 7, 2018

DENVILLE, NJ - Morris County School of Technology teacher Jennifer Skomial has been nominated for the 2017-2018 national LifeChanger of the Year award.

Sponsored by the National Life Group Foundation, the national LifeChanger of the Year program recognizes and rewards the very best K-12 public and private school educators and employees across the United States who are making a difference in ...

Upcoming Events

Carousel_image_f15ab536b344851ebebb_star_balloons

Thu, February 22, 2:00 PM

Randolph Township Free Public Library, Randolph

Zoom Balloons Show at the Library

Arts & Entertainment Community Calendar Education Health & Wellness

Carousel_image_a462a07fc0090668b3c1_star_balloons

Thu, February 22, 4:30 PM

Randolph Township Free Public Library, Randolph

Zoom Comedy Magic Show

Arts & Entertainment Community Calendar Education Health & Wellness

Carousel_image_9c6b03ac9ece595f81e6_now_enrolling_facebook_and_website_graphic_-_preschool

Thu, February 22, 5:30 PM

Primrose School of Randolph, Randolph

Open House

Education

Randolph Superintendent, RMS and RHS Principals Speak on School Safety Following Florida Tragedy

February 17, 2018

RANDOLPH, NJ-  Superintendent Jenn Fano made this statement regarding the tragedy in Florida on Wednesday:  “We are deeply saddened by the school shooting tragedy in Florida.  Our thoughts and prayers go out to all involved.  We are taking this opportunity to once again review all our protocols in the Randolph School District to ensure that we are doing everything ...

The Morris County Crusaders After Strong First Season Prepare For 2018

February 19, 2018

EAST HANOVER, N.J.- When the discussion about football in an unlimited weight league among eighth graders, Coaches Odysseas Delaportas and Jeff Eisele of Jefferson decided to take action. American Youth Football, a non-profit football and cheer program bearing the logo, "non intrusive all inclusive seemed like a perfect fit. 

Delaportas and ...

Parent Guide to Helping Kids Cope With the Florida Mass Shooting

February 18, 2018

The massacre at a Florida high school on Wednesday is hard for adults to wrap their head around, but it can be completely overwhelming for children who hear about it or see images of the carnage. Parents need to help guide their children through the fear, anger, upset and helplessness such a horrific attack can stir up in children.

“The first thing parents should do is assess their own ...

MCST Student Wins Rachael Ray's “Cook Your Way To Culinary School” Competition

February 20, 2018

Denville, NJ – Nick Capone, a high school senior in the Academy for Culinary Arts at the Morris County School of Technology (MCST) in Denville, was one of four young aspiring chefs who competed to make their dreams of attending culinary school a reality in Rachael Ray’s “Cook Your Way to Culinary School” competition.

The competition aired on RACHAEL RAY Friday, ...

Atlantic Health System Earns Spot for 10th Year on Fortune’s ‘100 Best Companies To Work For®’ List

Atlantic Health System, a leading provider of health care in New Jersey, today celebrated a decade of excellence after it was recognized among Fortune’s “100 Best Companies to Work For®,” ranking number 74 in its tenth consecutive year on the prestigious annual list.

It is the only health care delivery system from New Jersey, and the top-ranked New Jersey based company on ...

CCM Library to Offer Free Workshops in Grant Writing and Fundraising Workshops Provided by Foundation Center’s Funding Information Network

RANDOLPH, NJ – The County College of Morris (CCM) Library’s Foundation Center Funding Information Network is offering three free workshops on the Foundation Center products during the college’s Spring Break, March 12-15.   The CCM Library is a participant in the Foundation Center’s Funding Information Network. Network partners provide a suite of ...

CCM Launches a Degree in Virtual Reality Providing Students with a Range of Options in a Rapidly Developing Field

RANDOLPH, NJ – From gaming to training surgeons, virtual reality (VR) has become an increasingly used technology for both entertainment and learning. Recognizing that VR will only continue to grow as it becomes even more prevalent in our lives, County College of Morris (CCM) has launched an Associate in Applied Science degree in VR.

The degree will be offered starting with the Fall 2018 ...

Guest Column: The Great "Wait" of the College Process

February 18, 2018

"The Great Wait" of the College Application Process

For all the high school seniors and their parents, we are in the stressful "waiting period".  We've just finished or are finishing applications to all the schools we might possibly want to attend next year and now sit and wait our fate after the $60-$80 non-refundable application fees to at least 8-13 schools and ...

AtlantiCast

AtlantiCast: Episode 12

On this week’s episode of AtlantiCast, decade of excellence makes headlines, as Atlantic Health’s place on Fortune Magazine’s 100 Best Companies to Work For List leads off the newest episode of AtlantiCast. Also on this week’s show, check out the newest “hybrid” operating room at Morristown Medical Center and find out how Atlantic Health is helping local ...

AtlantiCast Medical Minute: Atlantic Orthopedic Institute’s Scoliosis and Spinal Deformity Center

On this episode of the AtlantiCast Medical Minute, we’ll take you inside the Atlantic Orthopedic Institute’s Scoliosis and Spinal Deformity Center, with the center’s director, Jason Lowenstein, MD.

Video Link: https://www.youtube.com/watch?v=1M7euCp86-c

AtlantiCast Episode 011

Breaking Atlantic Health System news on this week’s AtlantiCast! Plus, find out why Morristown Medical Center is one of the best hospitals in the nation when it comes to recovering from joint surgery, see the newest center for fighting brain cancer and an Atlantic Health System red-carpet premiere!

 

Guest Column: The Great "Wait" of the College Process

February 18, 2018

"The Great Wait" of the College Application Process

For all the high school seniors and their parents, we are in the stressful "waiting period".  We've just finished or are finishing applications to all the schools we might possibly want to attend next year and now sit and wait our fate after the $60-$80 non-refundable application fees to at least 8-13 schools and ...