So-called reality TV shows make home buying look easy. Every home is in mint condition, and the buyers do not appear to have any worries, other than finding the “perfect” house!
In real life, buying a Columbus home involves a great deal of preparation and due diligence. It also means working within your budget, and possibly competing against other home buyers in popular neighborhoods.
Home buyers who are not prepared for the market can be taken by surprise, and in their haste, make critical mistakes that can cost them money and headaches!
Here are 5 mistakes to avoid when buying your Columbus home!
1. Not having your mortgage pre-approved. Over-confident buyers might be tempted to shop for a home first, and apply for a mortgage once they make an offer. But this can be a recipe for disappointment. Obtaining a mortgage pre-approval identifies your purchase power, and shows home sellers that you’re ready, able and willing to buy.
2. Not looking at your overall budget and financial needs. Owning a home can be a wise financial move, but remember to account for the costs of property taxes, insurance, maintenance and utilities. Also consider the other priorities in your budget, such as saving for retirement or a child’s college education.
3. Not using an Exclusive Buyer’s Broker or Agent. Typical real estate agents represent the home seller, or act as neutral transaction facilitators. Only an Exclusive Buyer’s Broker or Agent provides home buyers with true fiduciary advocacy, 100% of the time, guaranteed.
4. Waiving your right to a home inspection, and your right to negotiate solutions to defects and problems. No home is completely free of defects, not even a brand-new home! A home inspection is a must. If areas of significant concern are revealed in the inspection, further evaluation by a contractor should be conducted. At Buyer’s Resource Realty Services, we ensure that our Buyer-Clients have proper contingencies in place for their protection!
5. Not reviewing the rules and financial condition of the homeowner’s association. You might be surprised by the amount of control an HOA can have over your property. While a well-managed and financially sound HOA can benefit homeowners, a debt-ridden or contentious HOA can bring serious headaches.
Of course, there are many other important considerations when you buy a Columbus home. These tips are just an example! For more information, we invite you to obtain our free e-book, “How to Buy a Home Like a Pro.” It’s yours without any obligation!
As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.
Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!
Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!
Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax
