Looking to Buy a Home in Mesa or the Surrounding Area?
Learn how to buy a home in Mesa, the smart way!
A successful property purchase is always a product of good research, without it your investment may as well be a blind man crossing a road without a guide dog. Thanks to the slew of information made available online by real estate professionals, research has become a lot easier than it used to be. Despite that, the number of people taking the plunge without proper information is still high. In this article, realtors discuss the most common mistakes made by first time homebuyers and why you should avoid them.
Not Doing Enough Research
Too little research in this step can cause serious trouble for you down the road. This is especially true when it comes to hot markets like Mesa, Arizona. If you are looking to buy a home in Mesa, be prepared to look around a bit. No matter how great the first home you find is; it is crucial that you look at the options available to you. You are likely to find a better home at a better price. The same is true if you are looking to buy a home in Gilbert or Chandler. The truth is there a lot of great homes at reasonable prices so it’s important to not make any hasty decisions.
Researching Too Much
While too little research can cause problems, so can doing too much research. When first time homebuyers go overboard with researching, they get locked in an analysis paralysis. With information overload, they find themselves overwhelmed and afraid of making a wrong decision. While doing research is a good thing, try to remember that you don’t have to select the best house. Instead you want to select the best house suited to your price range and needs. Creating a checklist of your criteria will help you to stay focused.
Failing to Verify Stats
One of the many questions homebuyers ask real estate agents, pertain to the local market statistics of rental activity and sales. Homebuyers and/or renters may assume a home price or rental cost is fair and make a judgement call based on this information. But sometimes these statistics have anomalies which may result in an incorrect decision altogether. It’s important when looking at data or statistical information, to compare apples to apples. Make sure you understand what the data is conveying and always look for another source to back it up. Never take anybody’s opinion as fact. The only thing your decisions should be based on, when it’s time to buy a home in Mesa, are documented facts.
Be prepared to put in hours conducting proper due diligence to justify the cost of the home you have chosen before submitting it to your lender. The lender you obtain will most definitely perform their own due diligence before lending you money. Submitting a home that isn’t worth the asking price hints that you are unorganized, or careless, and could cause them to back out of their prior loan approval.