Biggest mistake of Metro Detroit home buyers
So what is the biggest mistake of Metro Detroit home buyers? I believe the biggest mistake of Metro Detroit home buyers is the lack of preparedness. What I mean by that is not knowing what you are getting into, or not doing research. Some of it is simple. Do you know about the home buying process? What should you being doing to prepare to buy a home? Is your financial house in order? Simple things like paying down debt before you bury yourself in a house payment is smart. If your credit cards are all maxed out I would say you are headed for disaster. You want a financial balance.
What cities do you want to live in? What is important to you? Knowing that being close to family or friends may influence what city or area you want to live in. You may want to buy a home for sale in Canton if your parents live in Canton or Plymouth Michigan. What about drive time? I sell quite a few lake homes in Metro Detroit. One of the biggest deterrents in buying a lake property in Oakland County is the drive time to downtown Detroit or just about anywhere in Eastern Oakland County or anywhere in Wayne County. It is just too long of a drive for many home buyers. Why drive a hour to work when you have a family. Add in bad whether like a snow storm and it could be 2 or 2 1/2 hours. Knowing what is important to you and what areas you want to live in while make your search a little easier.
Do you know if you can even buy a home? Have you talked to a mortgage person yet? Many potential home buyers want to buy a home, but they may have hidden financial problems that some underwriter may reject their loan. You may have had a past foreclosures, or short sale that may hurt you. You may have a collection or a negative on your credit report that may stop you from getting a loan. So take the time to talk to a mortgage person and get pre-approved. It works both ways….some people think they would never get approved for a mortgage ….can. So call a guy like Steve Stork at Summit Mortgage (248) 755-3701 to get started today.
Last but not least, the mortgage and home buying process can be scary and confusing. Take some time and read a few articles on the internet or check out some of the other buyers tips on the right side of this page. Knowing about the Metro Detroit home buying process can make you feel comfortable when little things come up. I recently had a home buyer that did not know that they were responsible for paying for the private home inspection. They thought the seller paid for it. That was the first time in 14 years that happened. The home inspector did not bring up the amount when they talked to the buyer on the phone. I am used to the home buying process, but to you the first time home buyer it can be confusing.
So do not make the biggest mistake of Metro Detroit home buyers. Be prepared. Know what you want, where you want to live and get pre-approved. Take some time to read some articles on the internet. It will help. If you are ready to get started give me a call at (248) 310-6239.
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