Top 10 Home Buying Mistakes

  • Have money saved before starting to look around. In South Florida the median home prices are higher, so you may need at least $10,000 to start.
  • If financing, make sure you meet with a qualified mortgage professional to learn about all the loan programs and what is needed to achieve financing.
  • Once the financing is in place, do not make any significant financial moves. Ex: Car purchase, furniture and electronics. Consult you mortgage professional first.
  • Everyone wants a deal. Remember, if a bank is giving a loan for a property they have minimum requirements for the conditions of a property to actually issue the loan.
  • Gather the decision makers and write down the ideal characteristic of a new home. Figure out where you would compromise and the must haves.
  • Consider closing and finalizing your transaction with a Real Estate Attorney, as they are held to the highest standard and will assure for a proper closing.
  • Once under contract, add all important dates to your calendar so you do not miss any key deadlines.
  • Do not make large purchases at all before your closing. Yes, it’s a repeat because it’s important!
  • Do not change jobs and do not go out and open your own business before a closing.
  • Make sure you review your insurance documents so you are aware of the coverage. Ex: Deductible, wind coverage, content, separate structure, vehicle damage on property, etc…