Today we’re going to discuss common mistakes that buyers make when they are looking at Forest Hills real estate. If this sounds familiar to you, then you’ve been paying attention! We covered this topic a few weeks ago.
If you’re wondering why we’re going back for round two, the answer is easy: Homebuyers tend to make a lot of mistakes! Here are four more pitfalls that we want you to avoid during your search for Forest Hills real estate:
Pitfall #1: Purchasing a home you love in a neighborhood you hate.
Have you ever heard the phrase, “Location is everything?” Truer words were never spoken. You have a better chance of altering a house to feel like home than changing a neighborhood to suit your lifestyle.
Pitfall #2: Holding out for a home that checks every box on your list.
If you have a short wish list, this might not apply to you. However, if your list of must-haves is a mile long, prioritize these items so that if you are struggling to find a home that has it all, you’ll be more likely to find a piece of Forest Hills real estate that has the important things.
Pitfall #3: Failing to examine loan options that require a minimal down payment.
It’s hard to scrape together that 20% down payment required by most conventional loans. That doesn’t mean you should give up on your quest to be a homeowner! Partner with a mortgage broker specializing in FHA, VA and USDA mortgages to get your foot in the real estate door.
Pitfall #4: Buying a home for your preapproval amount.
Just because you are preapproved to purchase Forest Hills real estate for $500,000, that doesn’t necessarily mean you should spend that much. Take a hard look at your current finances and future goals to determine how much you would be comfortable contributing to a monthly mortgage payment.
Take this advice with you on your Forest Hills real estate journey. Get in touch with Forest Hills Realty today to learn more about being a smart homebuyer!
Contact us at (718) 997-6000 or email us today for any questions!
