Are you buying a new home? There are plenty of Niagara On The Lake Homes For Sale, but before you jump at the first great deal, it’s important that you know exactly what type of home you are looking for. First-time buyers often make the mistake of thinking that they have to pounce on the first deal that comes their way. This is an amateur home-buying move that could end up costing you money in the long run. Before you make your first home purchase, consider the following.
Are You Working with a Real Estate Professional?
The internet is a great resource when it comes to buying a new home. Unfortunately, it can also give you a false sense of control. Many first-time home buyers (especially millennial home buyers) rely on internet listings instead of working with a real estate agent. While the internet is great to find potential homes that meet your initial criteria, you should print out the list of homes you’re interested in and contact a real estate agent to discuss what comes next. The internet cannot substitute the personalized experience a real estate agent can offer.
Have You Been Pre-Approved for a Loan?
Sellers will not entertain offers that do not come with a pre-approval letter attached to the offer. Buyers who write offers on properties without having a pre-approval letter are not considered serious buyers. Sellers want to make sure that you can afford their home and that you aren’t wasting their time. Contact a lender or mortgage broker prior to beginning your home search to get the pre-approval process rolling. Not only will this shows sellers you’re a serious buyer, but you’ll know exactly how much you can afford and you won’t be disappointed by looking at homes outside of your price range.
Did You Get an Inspection?
An inspection is non-negotiable. Any home that you put an offer on needs to be inspected by a home inspector. All offers must be contingent on the home passing the inspection. A lot of first-time buyers opt not to include an inspection as part of the contract either because they don’t understand the significance or because they are trying to save money. Yes, inspections are the buyer’s financial responsibility, but the couple hundreds of dollars paid to an inspector is pocket change compared to a high-cost, unexpected repair like a new roof or HVAC system after you move in.
Don’t rush the process when looking for a new home. With so many Lake Wallenpaupack homes for sale, you can take your time and still find an amazing property that you won’t regret buying six months down the road.