3 Ways to Make Sure You Don’t Get Your Dream Home
I’ve been helping people buy homes for over 30 years in the Grand Rapids marketplace and have seen three categories of reasons which prevent buyers from ending up with their dream home.
1. Screw up your credit.
Today, more than ever, your credit is a huge item that a bank or mortgage company will use to determine if you can buy your dream home. Your debt ratio is also important, as is the down payment for the home – but paying bills late or anything repossessed (car, furniture, especially a house) will mess up your credit.
You can check your own credit here or you can go and visit your lender and they can check it for you.
2. Don’t use a Realtor.
So you think you will be saving money by checking the internet or classified ads and contacting only the listing agent – think again – the commission contract is between the broker and the seller – not between you and the broker (unless you hire a buyer’s agent and specifically agree to pay them).
The time you waste setting up all those appointments with each individual agent, the homes you miss because your search engine isn’t covering all the available listings, the homes you miss because they are not broadcast yet are just a few reasons why it makes more sense to have an agent working for you. In addition your agent does all the work (sets up inspections, coordinates mortgage progress, etc.).
3. Listen to your friends, relatives or mechanic on how to buy a house and what to buy.
Hey – I’m all for seeking advice from people you know. I also am a big fan of having kids ask their parents for suggestions and pointers when making a big decision (especially since my husband and I have 6 kids and love them to share some of these decision with us). But… they are not the experts.
Make sure you use experts in their fields. Inspectors know the building trade and are experts – don’t skimp there. Mortgage Advisors know their product and can give you good suggestions on the kind of mortgage, which suits you the best. Your Realtor – is licensed with the State – should have extra education (I have advanced educational designations – ABR, CRS, GRI, ePro, PMN). Use the experts and you won’t be sorry – and they will help you get the home of your dreams