Buying a house is an exciting process and buyer’s often get really organized when they are ready to look; they think about the neighborhood, imagine their new dog enjoying the back yard they will have in their new home and their kids shooting hoops in the driveway with the neighbor kids, find out all about the schools and where you can walk or shop.  They get their down payment together, and submit their taxes to the lender.  But once the offer is made, there are some very serious mistakes to avoid that are critical to enjoying their new home without any regrets.

1. Consider the details!  Think through the details that will be part of your life in the home you choose: who do you consider living there in 10 years? Is there room for a parent if necessary, or kids who fail to leave the nest? How will you spend your time in this house, both inside and outside? Do you want to maintain the garden and yard? Is there room for your fly tying hobby? Is there a place for your television or library?  How will everyone who lives with  your get to work or school? Is there a bus stop near? or a school? are bike paths important to your way of life?  Keeping these things in mind while you are selecting your new home will  increase your enjoyment and decrease any potential regrets.

2. Don’t Ignore Important Information! The home buying process gives you lots of information about your new home. Don’t skip reading the seller’s property disclosures or the preliminary title report. It is very exciting to have your offer accepted by the seller, but the process is not over! Even if you don’t plan on negotiating on repair items, read and understand the inspection report so you know your house,  Also, ask for extra time to actually read your loan documents before you sign them. It takes some time, but really, you are agreeing to pay back a substantial amount of money; don’t you agree that you should read the terms of that contract?

3. Don’t Sabotage Your Financials! Sometime is seems like a long time between getting your offer accepted and taking possession of your new home. It is easy to get excited; you see a new 72 inch television on the wall above the fireplace, a new electric car in the driveway. Don’t get carried away by this! The lender will be reviewing your debt to income ratio and big expenses before closing so don’t make a common mistake such as increasing your credit card debt, buying a car, paying bills late or changing jobs. Wait.

4. But Don’t Wait Too Long:  When it comes to making a move, don’t procrastinate.  If you are looking for a home in a particular neighborhood, don’t hesitate to pull the trigger on writing an offer. Get your financial documents to the lender in a timely manner…..as in, right away…., make time to review property reports and other paperwork. Real estate buying is driven by timelines, so once you decide to move forward, do it promptly. Understand what needs to be done, and be prepared. Don’t write an offer with a closing date or 10 day inspection period and the leave on a long planned vacation for 2 weeks.