Learn About Buying a Home in Mullica Hill, South Jersey
Curious about buying a home in Mullica Hill, South Jersey? If you’re new to the home buying process or haven’t been through it in a while, you may wonder what you should know to ensure the process runs smoothly.
There are actually several home buyer traps you should avoid if you want to purchase your dream home successfully. In this post, we’ll go over the four most common traps.
Which Home Buyer Traps Should You Avoid?
At Your Home Sold Guaranteed Realty - Nancy Kowalik Group, our number one goal is for all our clients to find their dream homes at affordable prices.
We believe achieving that goal starts with education. That’s why we’ve created a free guide on the “9 Common Home Buyer Traps.” In this post, we’ll briefly review four tips mentioned in the guide.
But to get more details and see the rest, download a free copy of the report by clicking on the button below.
4 Common Home Buyer Traps
1. Not Researching the Market Before Making a Bid
Before you start negotiating with home sellers, you need to make sure you understand the value of the homes in the area. That way, you’ll know whether you’re making a fair offer that the seller will accept and can beat other home buyers with competing offers.
Studying the market beforehand will also help you know whether you’re getting a good deal or not. If you know the home seller has priced too high compared to the other homes in the area, this can give you some leverage at the negotiation table.
2. Not Getting Mortgage Pre-Approval
The second trap most home buyers fall into is failing to get pre-approved for a home loan. Mortgage pre-approval is crucial because it helps you stand out from other buyers.
When the home seller sees that you have the funds already in place to afford the home, it makes your offer more desirable.
Pre-approval also makes it easier for you to work with a real estate agent in South Jersey. In fact, most agents won’t work with a buyer until they’ve gotten pre-approval.
In addition, pre-approval also gives you confidence during the house hunting process because you have the security of knowing you have a loan already waiting for you.
That way, you can stick within your budget while shopping for homes and not risk falling in love with a house only to discover later that it isn’t the right fit.
3. Not Conducting a Thorough Home Inspection
As the home buyer, it’s your responsibility to pay for a home inspection and make sure there are no hidden issues in the home.
You can’t expect every home seller to disclose all the potential issues in the home. It’s always possible that the home seller overlooked something during the pre-inspection or never even got a pre-inspection in the first place.
Hire a professional home inspector to conduct the inspection. Your real estate agent should have some recommendations.
The inspector will objectively evaluate the interior and exterior of the home, and find any defects or potential issues that could become larger problems in the future.
If any issues are found during the inspection, you can use this as leverage at the negotiation table to get a better deal on the property.
4. Not Staying Within Budget
Lastly, many home buyers make the mistake of relying on their emotions when shopping for a new home. As a result, they end up not staying within their original budget.
Buying a home in Mullica Hill is certainly an exciting process, and it’s often an emotional decision – but it’s important to focus on the numbers.
Focus on what your budget reasonably allows you to afford, and stick to it as closely as possible. Our free mortgage calculator is the perfect tool to help you see what kind of home you can afford.
We Make Buying a Home in Mullica Hill Easy
At Your Home Sold Guaranteed Realty - Nancy Kowalik Group, our number one goal is to match you to your dream home.
We’ve been helping home buyers in the South Jersey area for years, and we know we can do the same for you. On top of our experience, we offer several buyers’ guarantees that make the home buying process as risk-free as possible.
To learn more about our guarantees or what it’s like working with us while buying a home in Mullica Hill, give us a call at (856) 230-7077, or fill out the form below.