| Deadly Mistake #1: Thinking you can't afford | | | | |
| it: | | | | Work with a buyer's agent who has a keen |
| | | | understanding of the real estate business and |
| Today, buying the home of your dreams is | | | | who is on your side. Buyer's agents have a |
| easier than ever before. Many people who | | | | fiduciary duty to you. That means they are |
| thought that buying the home they wanted was | | | | loyal to only you and are obligated to look |
| simply out of their reach are now enjoying a | | | | out for your best interests. Buyer's agents |
| new lifestyle in their very own new home. | | | | can help you find the best home, the best |
| | | | lender and the best inspector. Best of all, |
| Buying a home is the smartest financial | | | | in most cases, the buyer's agent is paid out |
| decision you will ever make. In fact, most | | | | of the seller's commission, even though he |
| American and Canadian home owners would be | | | | she works for you. |
| financially broke at retirement if it weren't | | | | |
| for one saving grace - the equity in their | | | | Trying to buy a home without an agent at all |
| home. Furthermore, mortgage rates are more | | | | is, well... unthinkable. |
| flexible today than ever and tax allowances | | | | |
| favor home ownership. | | | | Deadly Mistake #3: Getting a cheap |
| | | | inspection: |
| Real estate values have always risen | | | | |
| steadily. Of course there are peaks and | | | | Buying a home is probably the most expensive |
| valleys, but the long term the trend is a | | | | purchase you will ever make. This is no time |
| consistent increase. This means that every | | | | to shop for a cheap inspection. The cost of a |
| month when you make a mortgage payment the | | | | home inspection is very small relative to the |
| amount that you owe on the home goes down and | | | | home being inspected. The additional cost of |
| the value typically increases. This owe | | | | hiring a certified inspector is almost |
| less-worth more situation is called equity | | | | insignificant. As a home buyer, you have |
| build-up and is the reason you can't afford | | | | recently been crunching the numbers, |
| not to buy. | | | | negotiating offers, adding up closing costs, |
| | | | shopping for mortgages and trying to get the |
| Even if you have little money for a down | | | | best deals. Do not stop now. Do not let your |
| payment or credit problems, chances are that | | | | real estate agent, a patty-cake inspector or |
| you can still buy that new home. It just | | | | anyone else talk you into skimping here. |
| comes down to knowing the right strategies, | | | | |
| and working with the right people. | | | | NACHI front-ends its membership requirements. |
| | | | NACHI turns down more than 1/2 the inspectors |
| Deadly Mistake #2: Not hiring a buyer's agent | | | | who want to join because they can't fulfill |
| to represent you: | | | | the membership requirements. |
| | | | |
| Buying property is a complex and stressful | | | | NACHI certified inspectors perform the best |
| task. In fact, it is often the biggest single | | | | inspections by far. NACHI certified |
| investment you will make in your lifetime. At | | | | inspectors earn their fees many times over. |
| the same time, real estate transactions have | | | | They do more, they deserve more, and yes they |
| become increasingly complicated. New | | | | generally charge a little more. Do yourself a |
| technology, laws, procedures and competition | | | | favor...and pay a little more for the quality |
| from other buyers require buyer agents to | | | | inspection you deserve. |
| perform at an ever-increasing level of | | | | |
| professionalism. For many home buyers, the | | | | This article, by the National Association of |
| process turns into a terrible, stressful | | | | Certified Home Inspectors, is brought to you |
| ordeal. In addition, making the wrong | | | | by Alfonso Garcia, the co-owner of Garcia, |
| decisions can end up costing you thousands of | | | | Valley & Associates, a real estate company |
| dollars. It does not have to be this way! | | | | based in Lawrence MA. |