Miss These Home Buying Mistakes

Skip These Home Buying Errors To Protect Yourself And Your Investment

Deciding to buy a home is one of the biggest decisions most Americans will ever make. To protect you from potential errors around your big decision, here are a few home buying mistakes you should avoid.

  1. Ignoring Closing Costs: Your mortgage is not the only price tag you will have to pay to get into your new home. When you buy your home, you will be responsible for many of the costs associated with the legal processes and inspections necessary to make the sale final. Additionally, once you are in your new home you will need to have enough money leftover after closing costs to pay your utilities, homeowners insurance, and taxes. Make sure you get a comprehensive picture of the expense of owning a home before making the plunge.
  2. Ignoring Your Budget: Going hand in hand with the above point, owning a home is a major expense (albeit also one of the best ways to build wealth) so do not get yourself in over your head by ignoring the budget you have set. Avoid being heartbroken over a home you cannot afford by only checking out homes within your price range.
  3. Ignoring Your Timeline: If you do not plan to be in your current city or town for more than a few years, wait to buy. Between your mortgage payments and closing costs, you will not begin to make your money back until year three or later of homeownership.

Do you want to buy your first home in 2015? Or are you hoping to finally get into your dream home this year? To get the mortgage you need to make those dreams a reality, contact the home loan experts at Avis Lending. With locations in Irvine, California and Lahaina, Hawaii, we are here to meet all of your West Coast mortgage needs. Do not wait; call us today!

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