Avoid these common mistakes when buying a home

Home buying can be a frustrating experience, but choosing a competent real estate agent to guide you through the process will likely save you time and money. Here are some tips to avoid costly mistakes.

1. Get pre-approved BEFORE you start your home search. Pre-approval will give you a realistic price point when viewing potential homes and puts you in a better position to make a serious offer.
2. Research the neighborhood. Learn about crime statistics, schools and amenities within your potential town.
3. Look beyond the décor. Focus on the structure itself, square footage and layout. Look beyond the taste of the current homeowner, and remember you are buying the actual house.
4. Never skip the inspection. Your home is likely the biggest investment you will ever make, a home inspection is necessary to ensure it is a sound structure or at the very least, make you aware of any defects.
5. Give yourself an out. Make sure there are contingencies (such as financing or inspection) in the contract so you can back out of the deal and recoup your deposit.
6. Don’t buy the most expensive house on the block. The lower home values around your property will negatively affect your property's value.
7. Keep resale value in mind. It may be difficult to envision selling a home that you have yet to live in, but remember to consider long-term property value, location and overall mass appeal, when viewing a potential home.