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Avoid these 4 common homebuyer regrets

Buying a home is always a big decision, but with higher mortgage rates and rising home prices, today’s homebuyers seem to face even higher stakes.

Want to ensure you buy a house that makes you happy, get a mortgage you can afford, and make the best moves for your future?

Read on to learn some of the most common homebuyer regrets – and how you could steer clear of them.

Regret: Paying a too-high interest rate. A higher mortgage interest rate means a higher monthly payment, which could pose problems if you can’t keep up with it.

Solution: Work on improving your credit score before applying for your loan to try to get a better rate. You can also pay for mortgage points or consider an alternative loan type for a lower interest rate.

Regret: Forgoing an expert’s help. Buying real estate is complicated, especially in today’s market. Not having an experienced negotiator by your side means you may spend more.

Solution: Work with an agent who’s knowledgeable about local market conditions and can help you put your best foot forward during the process.

Regret: Underestimating costs (and effort). Depending on your budget, you may have to buy a home that needs a fair amount of work – and those expenses can add up.

Solution: Make sure you get a home inspection and pay close attention to the report. You should have an accurate picture of the repair and renovation costs you could face.

Regret: Rushing the process. It’s easy to get caught up in the moment, especially if there’s a bidding war. But being too hasty could lead to disappointment down the road.

Solution: Don’t purchase a place that only checks your boxes today; consider one that will meet your needs in the long run. And don’t skip your due diligence to get into a home faster.

Do you want help finding the right home? Reach out to Jane Kepley with CR Properties at 760-622-0204 or [email protected].

 

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