3 Deadly Mistakes

3 Deadly Mistakes Every Home Buyer Should Avoid

Deadly Mistake #1: Thinking you can't afford a home.
 
Today, buying the home of your dreams is easier than ever before.  Many people who thought that buying the home they wanted was simply out of their reach are now enjoying a new lifestyle in their very own new home. 
 
Buying a home is the smartest financial decision you will ever make.  In fact, most American and Canadian home owners would be financially broke at retirement if it weren't for one saving grace - the equity in their home.  Furthermore, mortgage rates are more flexible today than ever and tax allowances favor home ownership. 

Real estate values have always risen steadily.  Of course there are peaks and valleys, but the long term trend is a consistent increase.  This means that every month when you make a mortgage payment the amount that you owe on the home goes down and the value typically increases.  This owe less-worth more situation is called equity build-up and is the reason you can't afford not to buy.
 
Even if you have little money for a down payment or credit problems, chances are that you can still buy that new home.  It just comes down to knowing the right strategies, and working with the right people.  See below.
  
 
Deadly Mistake #2:  Not hiring a buyer's agent to represent you. 

Buying a New home from a builder without an agent at all is, well... unthinkable.

First of all it doesn't cost you anything. Also they have the experience and knowledge of how to make sure that you are treated fairly and with respect. Note: That in most cases the sales people that are in the office are not TREC licensed realtors. They can tell you just about anything to get you to sign on the dotted line. "They represent the builder" When you first talk to a builder let the builder know up front that you have an agent.

If you don't have a realtor or don't know one that has had the experience of dealing with New Home Builders. Call me. I have a really good list for you to choose from that are knowledgeable in the area of town that you are interested in. Cell 281-702-0542

The main issues/myths I see are:

-buyers think they get a better sales price if they don't use a realtor 
 
-buyers don't understand all of the additional steps, that must take place after you sign a contract. Once they sign, the builder does not give them the same customer service and it is the buyer's agent's job to ensure they are still given the attention needed.
 
-buying a new construction has a lot more steps and nuances than a resale purchase. (buyers think because it is new it is easier, but don't know about - builder's warranty, blue tape and final walk through, change orders, etc.

Buying property is a complex and stressful task.  In fact, it is often the biggest single investment you will probably make in your lifetime.  At the same time, real estate transactions have become increasingly complicated.  New technology, laws, procedures and competition from other buyers require buyer agents to perform at an ever-increasing level of professionalism.  For many homebuyers, the process turns into a terrible, stressful ordeal.  In addition, making the wrong decisions can end up costing you thousands of dollars.  It does not have to be this way!
 
Work with a buyer's agent who has a keen understanding of the real estate business and one who is on your side.  Buyer's agents have a fiduciary duty to you.  That means they are loyal to only you and are obligated to look out for your best interests.  Buyer's agents can help you find the best home, the best lender and the best inspector.  Best of all, in most cases, the buyer's agent is paid out of the seller's commission, even though he/she works for you.

If you don't have a realtor or don't know one that has had the experience of dealing with New Home Builders. Call me I have a really good list for you to choose from. Cell 281-702-0542


 


Deadly Mistake #3:  Getting a cheap inspection.
 
Buying a home is probably the most expensive purchase you will ever make.  This is no time to shop for a cheap inspection.  The cost of a home inspection is very small relative to the home being inspected.  The additional cost of hiring a certified inspector is almost insignificant.  As a homebuyer, you have recently been crunching the numbers, negotiating offers, adding up closing costs, shopping for mortgages and trying to get the best deals.  Do not stop now.  Do not let your real estate agent refer you to a patty-cake inspector, (There is a reason they are cheaper) or anyone else talk you into skimping here.  
  
InterNACHI front-ends its membership requirements.  InterNACHI turns down more than 1/2 the inspectors who want to join because they can't fulfill the membership requirements. 
 
InterNACHI certified inspectors perform the best inspections by far.  InterNACHI certified inspectors earn their fees many times over.  They do more, they deserve more, and yes they generally charge a little more.  Do yourself a favor...and pay a little more for the quality inspection you deserve.

Questions to Ask Before Hiring Your Inspector:             

1  - Has your Company been in business for at least 10-years?                
2  - Does your Company's Inspector use Professional equipment?            
3  - Does your Company use a Compulevel or Zip Level to evaluate 
      the foundation? (Or how do you inspect the foundation?                    
4  - Does your Company provide a computerized easy to read report?       
5  - Does your Company provide extended call hours so that
      inspections can be scheduled immediately?                                      
6  - Are your Inspectors some of most highly trained in the industry?       
7  - Do your Inspectors have construction backgrounds?                         
8  - Do your Inspectors perform New Home Phase Inspections?               
9 -  Are your Inspectors members of TPREIA? http://tpreia.com
10 - Does your Company offer their Clients' unlimited phone
       consultation, after the inspections?                                                
11 - Do your inspection reports follow Texas State Laws and Formats?     
12 - Are Clients encouraged to attend the inspections?                           
13 - Do you provide an inspection agreement defining the scope of
       the inspection?                                                                            
14 - Does your Inspectors Foundation include elevation readings?           
15 - Does your Company assist in scheduling other inspection needs?
       Security System Inspection? Termite Inspection? Mold & etc?            

If their answer is not Yes: To all of these questions:
Contact me today to Book An Inspection. Call my cell (281) 702-0542

I inspect for YOU  

Remember, If you want fast, efficient, reliable home inspection services within

Greater Houston, including: The Woodlands, Spring, Cypress, Cypresswood, Champions, Tomball, Conroe, Lake Conroe, Magnolia, Montgomery, Oak RidgeKingwood, Atascocita, Humble, Willis, Texas and surrounding areas

 
 

Terry Acra
TREC#8952