Home / Home / 7 Common Mistakes To Avoid When Buying A Home

7 common mistakes to avoid when buying a home

7 common mistakes to avoid when buying a home

Buying a new home is an exciting experience. It brings with it the promise of a new beginning, which many people look forward to. But, it is also an expensive process. To avoid financial issues during this all-critical time, it is important to exercise caution when making the big jump. It is essential to know the common mistakes people make when buying a new home and how to avoid them.

Overshooting budget
Before beginning the house-hunting process, outline a budget. This must include the cost of the property along with other fees, charges, and renovations that may be necessary. One of the biggest mistakes people make when buying a new home is overshooting budget. Often, they believe that a little financial struggle can easily be managed, especially during the initial months. But, the realization of how tough this can be only happens over time as other financial needs arise. To avoid this hassle, look for a house that fits well within the pre-set budget.

Lack of research
Some real estate agents may hype up certain properties to reach their sales targets. Unfortunately, many people fall for these tactics without doing adequate research. So, one should avoid rushing to put a down payment on the first house they come across. It is advisable to take some time to study the market well, learn about other offerings, and make an informed call. Additionally, it helps to be aware of the current market condition to ensure one finds the best rate possible.

Not getting a loan pre-approval letter
Home-buying is a long and complicated process that requires a lot of paperwork. Given the competitive nature of the property market, homeowners are less likely to sell their properties without a loan pre-approval. Before sending in a bid, organize all the financial information that will be required during the process. This includes W-2 forms, tax returns, pay stubs, and bank statements. Also, get a loan pre-approval letter from the lender to show that the lender believes the buyer is capable of repaying the bills based on their financial and credit history.

Ignoring the neighborhood
At times, people are so wrapped up in the idea of buying a home that they fail to stop and explore the neighborhood. Don’t just look at the house while buying. The locality can hugely impact one’s way of living, so it is important to consider it in great detail. Look for features such as walkability and low crime rates. Consider the commute time to and from work or school and other amenities in the area, and then take a call about the home.

Expecting to find a perfect home
No matter how hard one explores different properties, finding the “perfect home” within one’s budget is challenging. Looking for perfection can be misleading, causing people to never invest in a new home. Instead of a “dream home” scenario, work with three different lists – one that covers necessities, another that covers wants, and a third list that includes features that would be nice to have. This will help one prioritize properties during their search and find a home that meets most of their requirements.

Making an emotional home-buying decision
Buying a new home, especially as a first-time buyer, is an emotional experience. But don’t make the mistake of basing this decision solely on emotions. Avoid buying a home just because it makes one feel happy. Think about the payments that need to be made, the neighborhood, and other practical factors. An impulse purchase may lead to buyer’s remorse.

Overlooking government-backed programs
First-time home buyers are not alone when financing their purchase. Plenty of government-backed loan programs, such as FHA loans, VA loans, and USDA loans, are available to help make the purchase more affordable. Some programs may reduce the down payment to zero, while others may bring it down to 3.5%. These programs also have simpler eligibility criteria and more competitive interest rates compared to private lenders, making it easy for people to qualify and helping them save money in the long run.

One can also seek help from property experts such as real estate agents to simplify the home-buying process. Since agents know the market well, the right one can help cut down the search time, negotiate better offers, and make it easier for buyers to find their new home.

Recommended

Top 3 types of mattresses to relieve back pain

Top 3 types of mattresses to relieve back pain

An extremely soft or firm mattress or one that is worn out can affect sleep quality and make one feel tired the next day. Further, if used for a long period, it can lead to issues with spine alignment and even strain the back muscles. If suffering from back pain, it is important to pick a mattress that helps relieve the ache and provides adequate support to the spine. So here are the best options: Latex Latex is a natural rubber that can be combined with other natural and even synthetic products to create a comfortable and durable mattress. Latex is naturally elastic and buoyant, and in mattresses, it can help support the sleeper’s lower back, weight, shape, and different sleeping positions. It facilitates adequate spine alignment and helps take the pressure off the heavier parts of the body. Latex mattresses bounce back to their original shape pretty quickly, and this factor ensures good support for all sleeping positions, making it ideal for side sleepers, back sleepers, and stomach sleepers. What makes this one of the top mattresses for back pain is that its springy nature enables smoother movement, and sleepers can change their positions without difficulty. The mattress can retain its shape for many years.
5 foods that help improve lung health

5 foods that help improve lung health

Our lungs help us receive oxygen and release carbon dioxide through breathing. The body’s natural defense system protects the lungs from infections, germs, and other pathogens. But you can also improve lung health by making specific lifestyle changes like following an active lifestyle and breathing fresh air. Further, the right nutrition plan is crucial. The following foods have essential nutrients that keep the lungs healthy and lower the risk of diseases: High-fiber foods Inflammation is among the leading causes of lung diseases like asthma and chronic obstructive pulmonary disease (COPD), and fiber can help fight inflammation. A molecule in the blood called C-reactive protein (CRP) indicates inflammation in the body. Fiber-rich foods can contain CRP levels and protect the lungs. Fiber can also improve gut health by increasing the production of short-chain fatty acids. Some fiber-rich foods that promote healthy lungs are apples, artichokes, beans, berries, brown rice, quinoa, sweet potatoes, peas, cereal, and whole-grain bread. Vitamin C-rich foods Vitamin C is a vital nutrient that protects our cells from oxidative stress. It also has properties that protect the lungs from free radicals. Research shows that people who lack vitamin C may have decreased lung function, which may lead to infections.
6 of the most recognized running shoe brands

6 of the most recognized running shoe brands

If you want to invest in a pair of good-quality running shoes, choose one from a brand that specializes in making them for professional and casual runners. Look for a manufacturer that offers good arch and pronation support that matches the shape and size of your feet. Generally, a pair of running shoes cost between $110 and $150, while some iconic and popular shoes may cost higher. To help you choose from the top brands, here are the leading running shoe brands that are popular among runners: Brooks Brooks is originally from Canada and operates in the U.S. The brand has been making shoes since 1914 and started making running shoes after the Olympics in 1972. The collaboration of Jerry Turner from Brooks, David Schwaber of a rubber company, and Marty Liquori, a long-distance runner, created a cushiony midsole material from ethylene vinyl acetate. Using this, they introduced the Brooks Villanova in 1975. Their pioneering innovation then became the norm for other brands making sneakers. Some of its other innovations of Brooks include a removable sock line, silicone fluid, GORE-TEX, diagonal rollbar, use of pods on the outsole, and use of flexible material under the ball of the foot. Some of the most well-known running shoes from Brooks include the MOGO series, Green Silence, PureProject, Transcend, and the DNA series.
4 timeless jewelry pieces every woman must own

4 timeless jewelry pieces every woman must own

Every woman, irrespective of age, uniquely expresses her fashion style. And accessories play an important role in the manner of expression. If you think that classic metal or gemstone jewelry is expensive or unsuitable for everyday use, it’s time to change your opinion. Some must-own timeless jewelry pieces can never go out of style. They instantly amp up your look no matter the outfit and garner eyeballs wherever you go. Make these exquisite jewelry options yours now.  Stud earrings Stud earrings are dainty yet elegant pieces of jewelry. They fit quite well on the top of your ear, emitting the right amount of sheen. It has a singular point with a post that passes through the pierced ear, connected through a backing or a clutch behind the ear. The stud, the main part of the earning, can be made of bare metal like gold, silver, or platinum and/or hold a gemstone like a diamond, ruby, sapphire, emerald, coral, or pearl. The size of the stud and the type of stone could determine the price of the pair of earrings. While stud earrings made with precious stones can be expensive, you can opt for those affordable options with semiprecious stones like turquoise, rose quartz, or garnets.
5 leading SUVs and useful buying tips

5 leading SUVs and useful buying tips

Sports utility vehicles, or SUVs, have come a long way from being mere large-family vehicles to one of the most versatile and in-demand passenger cars. They are safe, well-designed, spacious, and fun to drive. The large-SUV market segment’s revenue is estimated to reach $148.60 billion in 2022. With increasing interest and demand, many new or redesigned models have entered the market. Here are a few leading SUVs to look for: Hyundai Tucson Hyundai has redesigned the Tucson completely. The 2022 version has multiple trim levels, including a sporty N Line model and a rugged XRT model. It also has three different powertrain options: hybrid, gasoline, and plug-in hybrid. Further, the 2022 Tucson has upgraded infotainment systems, multiple rear USB ports, Wi-Fi hotspot, top-class safety features, and driver-assistance technologies like cruise control, blind-spot collision avoidance systems, and driver attention warning. The price of the 2022 Tucson starts at around $25,350. Jeep Grand Cherokee Jeep Grand Cherokee is a mid-sized SUV. The 2022 variant, redesigned to offer a smoother ride, can accommodate five passengers in its top-class interiors with comfortable and supportive seats. The car has three powertrains: the existing V-6 and V-9 and a 4xe plug-in for the hybrid variant. Rear-wheel drive is standard in all models with V-6.
Top 5 electric cars to consider in 2022

Top 5 electric cars to consider in 2022

The sale of plug-in electric vehicles is expected to rise to 20.6 million in 2025, making up 23% of new passenger car sales. Battery, plug-in hybrid, and hybrid are the three main types of electric vehicles currently being rolled out. You can choose one from either of these car types on the basis of your driving requirement and budget. Here are some of the top suggestions for electric cars to consider this year: Kia EV6 The EV6 has a stylish exterior and classy interior with hi-tech features like smart parking and vehicle loading capabilities. This five-seater offers 17.6 cubic feet of cargo space even when the seats are not folded. The car’s engine has a 77.4 kWh all-wheel-drive powertrain, 321 bhp, 605Nm of torque from twin motors through a single-speed automatic transmission, and a range of 310 miles. It is quick to power up as a 350kW charger can charge the car from 10%-80% within 18 minutes. The driver assistance feature includes an augmented reality head-up display and remote smart park assist, which helps you park into a narrow space and pull out again when you are back by pressing a few buttons. Nissan Leaf Nissan’s Leaf is one of the cheapest electric cars in the market, costing under $20,000 after taking the tax credit of $7,500.