You’re in the process or thinking about buying a house, well, congratulations! This is one of the most important purchases you will make in your life time, this is where you will raise a family, make memories, and start the wealth building process. But lets make sure you don’t get in your own way when the time comes.

Not Being Grounded:

   You’ve been watching HGTV for the last year making a list of everything your dream home will have. Now you have a pre-approval from your lender for 250k, you give your realtor that golden list of what you are looking for, the walking closet size of a bedroom, granite countertops, 12ft ceilings, 8ft doors, and pool with a jacuzzi to top it off.  Your agents face goes from a smile to a concerning look because they have to bring you back down to earth. In your area average home goes for 180k with no upgrades and look to be stuck in the 2000’s, your agent shows you a list of what is available and fits what you need. No you have two options 1. Understand the your agent knows the market and is showing you what is available in your price range or 2. Ask them to up the price until you see one that fits your golden list but out of your price range. If you go with option one you should find a home in no time, go with option two and you will miss out on homes in your price range that where prefect for you. Oh yeah also you will be wasting time and money with offers on homes that are not in your price range.  

Looking For A Deal:

   If your first home isn’t a flip project or and investment property in its truest definition, then the word deal should not be in your vocabulary during this process. You are not looking for a deal you are looking for a home that you will making memories in a “deal” serves a different purpose. When home buyers say they are looking for a deal they usually means that they don’t want to pay for more than the property is worth, let me put you at ease. If you are buying with a home loan the lender will not give you the money for a home if it does not appraise at your offer price. Tip: You may get people (even family) saying “man that’s too expensive I paid 60k less for a similar home” 1. They are either lying / don’t know what they are talking about 2. They bought that home years ago when the market was in a different place. If this makes you doubt the home, you want to ask yourself “would they sell their home at the same price they bought it years ago?” The answer is no because that home is worth more now. Best thing is to keep the buying process details to yourself because there will always be haters and people that don’t know anything about the housing market telling you what to do.  

Being Indecisive:   

Trust me I completely understand being indecisive, sometimes I take an extra hour deciding what restaurant I want to eat at even if I’m starving, but buying a home is not Alfredo vs. Sushi. Your agent should be able to narrow it down to 3 homes that fit your needs the best, from there it’s up to you. Maybe you can’t pick a favorite from the three, or you want to see if they drop the price in a week, or you’re waiting for your dream home to hit the market. But what are you going to do when that never happens? Do you have a year to wait for the stars to align? Are you willing to lose one of those 3 homes for one that may never hit the market? Koki Adasi said it the best “The house you looked at today and wanted to think about until tomorrow may be the same house someone looked at yesterday and will buy today.” Tip: To help you make a decision take a moment and think which home will make you lose sleep if someone else beats you to it. That’s the home that you really want!  

Not Communicating With Your Lender:

   We found a home, got your offer accepted, passed inspection phase, and passed appraisal now were about a week out from closing! Go ahead and get that new car to go with the home or the living-room furniture because there is a BIG discount at Conns, right? WRONG! Ive heard of deals falling apart at the closing table because of getting an extra $500 credit debt. None of my clients have experienced this up to today because I check in weekly to make sure everything is on track. If im not your agent and they are not checking in on you make sure to speak with your lend before doing any changes to your credit/debt or even getting married. Always make sure to reach out to them and ask if what you plan on doing will affect you closing on the home. Worst case scenario you will have to until you close on your home to buy that new truck or get married.     

Of course there is plenty of other things that you can do to get in the way of being a home owner but these 4 are the most common. To avoid dealing the ownership process its best to take your Realtors advice to heart, this is why I always stress to hire an agent that you trust with this decision and knowthat they have assisted others in this process.

Jovani The Realtor 
Phone (call/text): 281.515.6828
Email: Jovani@lionsgaterealty.com

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