7 Home-buying Mistakes That Contribute to Home Buying Stress - Home & Texture
Homeownership Home-Buying Mistakes

This Real Estate Expert Reveals 7 Mistakes Contributing to Home Buying Stress

Navigating the home-buying process blindly can cost you a lot more than your dream home.

By
February 28, 2024 at 1:55 AM PST
Homeownership Home-Buying Mistakes

This Real Estate Expert Reveals 7 Mistakes Contributing to Home Buying Stress

Navigating the home-buying process blindly can cost you a lot more than your dream home.

By
February 28, 2024 at 1:55 AM PST

Buying a brand new home is an exciting venture, albeit a pretty frustrating one. From finding the perfect location to hiring an architect and building contractors, every step requires careful planning and meticulous execution.

But even though buying a new home can be particularly overwhelming, having an expert help you navigate the process can certainly help. Not only do real estate professionals specialize in home-buying, but they also have a ton of insider knowledge about the market to help you snag a great deal on your dream home.

Enter: Compass

Touted as “the first modern real estate agency,” Compass is a technology-driven company on a mission to make the home-buying experience a lot simpler for both buyers and sellers. With a sleek and user-friendly website, Compass allows you to browse through thousands of listings in your desired location with ease. Plus, the company takes a lot of pride in its personalized approach, ensuring that every client is taken care of from start to finish.

Real Estate Expert Reveals 7 Mistakes Contributing to Home Buying Stress

If you’re in the market for a new place, one of Compass’ top real estate brokers Trey Danna is here to help. With over 30+ years of expertise, Danna and his team have a wealth of knowledge and experience in the industry, making them the go-to for anyone looking to buy a home without the added stress that typically comes with the process.

To learn what Danna says you shouldn’t do when buying a home, here are seven mistakes that are making the home-buying process stressful.

Two women shaking hands
Photo credit: George Milton 

1. Not Hiring a Qualified Real Estate Agent

When shopping for a new home, many people forgo hiring a real estate agent in order to avoid added commission fees. However, what many potential buyers don’t know is that the seller covers those fees, meaning there’s no cost to the buyer.

Plus, having a real estate professional in your corner when navigating the home-buying process can save you a lot of money down the line. Their expert advice can provide a lot of clarity about your dream home and its value in the current market.

2. Not Fully Understanding the Buying Process

Let’s face it, the buying process can be a pretty humbling experience if you’re new to it. So in order for the buying process to be successful, you need to fully understand the business.

If you plan to navigate the market alone, Danna recommends doing plenty of research so that you make an informed decision before signing on the dotted line. Or, if you prefer a little help, a licensed real estate broker can help you negotiate purchase prices, arrange inspections, handle contracts, and tackle any other complicated steps during the buying process.

A woman budgeting at a desk
Photo credit: Tima Miroshnichenko

3. Not Taking Financial Preparation Seriously

Buying a home requires careful financial planning, especially since many sellers require a mortgage pre-approval before they even consider an offer. For best results, be sure to prepare your finances, including budgeting for unexpected expenses such as inspections and home warranty plans.

4. Unrealistic Expectations of the Property

When shopping for your dream home, it’s common to have a list of “must-haves” and dealbreakers. But keep in mind that due to the current state of the market, you might not be able to check everything off your list.

To avoid disappointment, try to come up with a new list of expectations that prioritizes only what’s absolutely necessary — i.e. the number of bedrooms, location and price range. That way, your real estate broker is better able to find places that effectively meet your needs. Plus, you can always upgrade or renovate your space down the line.

A frustrated woman sitting at a desk
Photo credit: Mizuno K 

5. Getting Emotionally Overinvested

Because buying a new home is a huge commitment, it’s understandable that you want everything to work out. But instead of becoming overly invested, Danner suggests taking proactive steps to avoid common pitfalls later on. This includes implementing strategies such as monitoring inventory or even talking with residents and local businesses to create a balance between emotional and rational decision-making.

6. Letting Your Agent Do It All

Many people think that hiring a real estate agent means they can kick up their feet and let the agent handle everything. But in order to have a successful home-buying process, your agent should act more like a partner, which means you’ll need to meet them halfway.

This includes understanding the property’s condition, exploring alternative methods of property evaluation, identifying potential risks, and determining the most suitable course of action based on your individual circumstances.

Man in Gray Suit Signing a Document
Photo credit: Yan Krukau 

7. Not Being Prepared for Closing Procedures

Now that you’ve secured your dream home, it’s almost time to sign on the dotted line. But before you do, try to familiarize yourself with the closing process so that you’re fully prepared for what lies ahead, from the intricacies of paperwork to the various remaining fees involved.

And of course, if you need a helping hand, a professional real estate agent is the best solution to help you close on your new home without stress.



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