Real Estate Expert Anya Mayo Shares Three Top Home Buying Mistakes to Avoid

Buying a home can be a stressful experience. There are many possible pitfalls. It’s not enough to understand what steps to take, it is also important to understand the potential mistakes that can happen. Some home buying mistakes can be very costly. Even experienced home buyers sometimes make mistakes that cost them for years to come. Real estate expert Anya Mayo gives us three of the most common mistakes that home buyers make. Just being aware of these will help home buyers avoid some of the top mistakes that home buyers often make.

BIM: Anya thank you for talking with us today. Can you tell us some of the most common home buying mistakes people make when buying a home?

Anya: Absolutely, one of the most common mistakes that I see is not getting an inspection. Sometimes home buyers can get caught up in the process and not get one. Or maybe they know the seller and feel like they can’t ask for some reason but it is really something that should be done on virtually every home purchase. It is just one of those steps you don’t leave out. You are not just buying a home you are making a major financial investment and you need to know exactly what you are getting into. A home inspection will potentially save you from some major costs down the road. It’s best to have a professional go through the home and look for the potential problems that you don’t know to look for or can’t see during a walk through.

BIM: That is a big one. What is another of the most common mistakes you see people make?

Anya: Another major mistake is that some buyers will go into a home buying situation not understanding that they need to factor in taxes and insurance into the monthly payment. People may find a mortgage calculator online and may even be pre-qualified by a lender and yet forget when they are looking at a home that they need to consider the extra costs that will be part of the monthly payment. A good realtor should be factoring that in for you as they find homes that fit your needs. So, make sure they know what your total monthly budget is. The max you want to spend so they can factor in all the costs. Not just mortgage payment costs. This will help keep you from being disappointed when you learn a house is actually outside of your budget.

BIM: It makes perfect sense. You would not want to be getting emotionally attached to a home only to learn later that it is out of your budget range.

Anya: Yes exactly. I will address one other big thing I see that people often miss. That is buyers often assume everything or at least some things are included in a transaction. When you walk through a home if you see something important to you like bathroom fixtures that you just love or drapes that you think really add to the home then you need to take note and get those written into the paperwork. If you don’t you could end up not getting something that is really important to you. Or you could end up with the transaction falling apart later on in the process because you can’t come to an agreement on something you thought was included or it did not occur to you was not included. So just be aware and tell your Realtor when you see something important to you. Make sure you get it in writing. If you loved the ceiling fans or the appliances for example. Make sure you get that in writing in the transaction.

BIM: Great point. That can come back to bit you later. Anya thank you so much for tips. Tell us how people can learn more about The Mayo Home Team.

Anya: You’re welcome! The best way to learn more about us is at http://www.islandhomes4sale.com

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Ian Lombardo

Ian Lombardo is a Best Selling Author and a contributor to multiple media outlets including USA Today Your Take and Small Business Trendsetters. Ian covers Influencers and emerging Innovators in Business, Finance, Health and Technology.