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3 Costly Mistakes Every Home Buyer should avoid.

Mistake #1: Thinking you can't afford it. 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 wasn'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 the
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.

Mistake #2: Not hiring a buyer's agent to represent you. Buying property is a complex and
stressful task. In fact, it is often the biggest single investment you will 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
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. Trying to buy a home without an agent at all is,
well... unthinkable.

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 the cheapest inspection. The cost of a home
inspection is very small, relative to the cost of the home being purchased. The additional cost of hiring a certified inspector is nearly insignificant. As a homebuyer, you have been crunching the numbers, saving for a down payment, negotiating offers, adding up your closing costs, shopping for mortgages and trying to get the best deals. Do not stop now. Do not let anyone talk you into skimping on your inspection. NACHI front-ends its membership requirements. NACHI turns down more than 1/2 the inspectors who want to join because they can't fulfill the membership requirements. NACHI certified inspectors perform the best inspections by far. NACHI certified inspectors earn their fees many times over. They do more, they deserve more, and yes they generally charge a little more.
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Alltech Services
Atlanta, Georgia