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3 Homebuying Mistakes You Can't Afford to Make


There are more costs involved in the home buying process than you might think. Many buyers tend to focus on the down payment because that tends to be the biggest expense, but you want to make sure you’re prepared for other costs along the way as well. There is earnest money, the home inspection, the appraisal, radon testing, and other expenses you’ll want to talk with your lender about. Talk with your lender to find out how much your closing costs will be and find out if there is a certain percentage you can ask for as part of an offer as a seller credit. You’ll also want to find out how much you’ll need up front for homeowner’s insurance and taxes. It’s better to be prepared for these expenses than to be surprised in the middle of the transaction when they come up!


Home Inspections are an option for a buyer and not required in order to purchase the home. During the transaction it might seem intriguing to some buyers to skip the inspection to save some cash. However, I highly advise against skipping the home inspection because you’ll want to know about any repairs the home might need, future maintenance issues to look out for and make sure there aren’t any major red flags that could cost you a lot of money before continuing with the home purchase. I had a client find a huge crack in the foundation of a home they were under contract on. That would have cost him $40,000 to fix, but because we knew about the issue prior to purchasing the home, I was able to negotiate a very large price reduction!


I’m sure you’ve heard this one before and it might sound like a broken record, but this is a big deal. For starters, most agents won’t show you a home without a pre-approval letter and most sellers won’t entertain an offer without one either. So, if a house comes along that happens to be your dream home and you’re not prepared, you could miss out just because you didn’t take the time to get pre-approved. Lastly, if you don’t have a pre-approval, you may be shopping outside of your budget. If you start searching for houses listed for more than what you can actually afford, you’ll set yourself up for disappointment when you realize you can’t buy the house you had your heart set on. If you're ready to get a pre-approval letter but don't know where to start, let me know and I can send you a list of some great lenders!

If you are in the beginning stages of wanting to buy, but aren't sure of your numbers, send an email to:, and I will send you my estimated mortgage and closing costs calculator so you can see the numbers in front of you!

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