1. Not doing your homework. Enter the market well-prepared by researching location, school district, deed restrictions and taxes.
2. Trying to make a shrewd investment. Focus on finding the best place for you and your family to live rather than trying to predict the real estate market.
3. Choosing a poor location. Consider what part of town you would like to live in and avoid homes located on busy streets.
4. Overlooking an inferior floor plan for an attractive exterior. Choose a great floor plan over a great exterior because you'll spend far more time inside the house than outside.
5. Overlooking how the home will function for your family. Consider features that are most important to your family and choose a home that will meet those needs.
6. Not having the home properly inspected. Hire a state-licensed, professional inspector to evaluate the home's true condition, which could save you thousands of dollars in repairs and maintenance.
7. Not getting what you want because you're impatient. If it's a used home, allow time to negotiate and get the best deal possible. Refusing to rush the process could save you thousands on the purchase price.
8. The biggest home buying mistake is not buying at all. Buying a home will give you a place to call your own and allow you to take advantage of tax breaks and build equity over the long term.
Avoiding common mistakes can make the home buying process simpler and less stressful.
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