Top Five Surprises in the Homebuying Process –before finding the house

Despite the joyful outcome buying a home can be a very arduous task with many bends and obstacles in the road.

Some are predictable, some are not.  It is always better to anticipate and address the potential problems before a contract is signed and escrow is opened.  These are just some of the things which should be considered when getting ready to buy a home.

1) I thought my credit was excellent

 when you are considering buying a house, it is a good idea to sign up with a service to see you current credit report to fix any blemishes and maintain a monitoring service up to the time a loan is funded to prevent any surprises

2) I thought my spouse and I agreed on our priorities

 I have seen several marriages dissolve before my eyes when different priorities emerged.  This article is not about marriage counseling, but a clear understanding of a couples goals are imperative, when under the gun to make a purchase is not a good time to reconcile these types of differences

3) This agent does not care about me 

 Like any other industry there are good agents and bad.  A good personal referral to an agent who has been in the business for many years is imperative to insure dedication and honesty. The advice your agent will give you is imperative and often hard to verify.  If there is a “community” of clients you are more likely to receive top notch care as the agent has a vested interest in keeping you happy so their reputation remains intact.

4) “My” bank does not value my business –

Lenders are a dime a dozen and the bank around the corner does not necessarily have the best deal for you, much less offer the best if they have it.  Mortgage Brokers, Mortgage Bankers, Direct Lenders, and Credit Unions all have different bags of tools to use.  Make sure you hook up with the best source for your specific needs, this will take some research and hard questions

5)  I can’t afford to buy the home I want

I guess this is not a surprise!  Finding a home should not be considered making compromises but trying to get the best package. The correct combination of Size, rooms, location, amenities, condition, neighborhood, view, etc will balance your desires to get you the best house for you.  After all many desireable features can be mutually exclusive, for example, in Sherman Oaks, it can be difficult to find a house that is easy to access, that is quiet and yet has a spectacular view.  One of these features will need to be less than ideal to find the house for you!.

Examining these factors is very important in preparing to buy a home if it is your first one or the last one in a long line of home purchases.  This understanding can be instrumental in a successful close and move in.  This article is just one of a series written by an agent in the field who helps people buy and sell and move for a living. Check out all the other articles for practical sense advice on the process of home ownership.