First-time home buyers venturing into the housing market for the first time can easily make mistakes that can be easily avoided if they had the right research on their side before making their purchase.

Especially for those without experience in the home buying process, figuring out how to find the right place for you at the right price can be a struggle, but don’t worry! With this guide, you can recognize and avoid the most common home-buying mistakes.

House Buying Mistakes to Avoid

If you’re wondering what not to do before buying a house, education is key – especially for first-time home buyers. The following are some of the top things to look out for to avoid making some common buyer missteps.

  • Determining Your Budget

When going into the home-buying process, it’s imperative to determine your budget and figure out what you can afford.

Going into the buying process without a good idea of what you can afford can be a waste of your time if you view the wrong places, or can lead you to have unrealistic expectations. You should always get a comfortable monthly payment and go for a home well within or even below your budget.

  • Not Getting Multiple Mortgage Quotes

Shopping for a mortgage should never just be a one-and-done deal. Always shop around and get multiple offers to compare and contrast before choosing a lender.

To avoid this, apply to multiple lenders and go with the best interest and monthly payment rate. If you apply to multiple mortgage lenders within one 45-day span, it will only count as one credit inquiry.

  • Not Checking Your Credit

Going into the home buying process without being aware of your current credit report can be a huge mistake. Mortgage lenders look very closely at your credit report and history, and if you aren’t aware of errors on your report, it can leave you with interest rates that won’t serve you or are being declined completely. Always keep track of your credit and keep it healthy.

Never make big purchases like buying a car or opening a new credit card in between applying for a mortgage and closing on your home. This can also damage your credit.

  • Not Having Enough for a Down Payment

Though sometimes you can buy a home with zero money down or a small amount down, it might be a good idea to hold off on buying a home until you have a larger down payment saved up. Bigger down payments allow you to have a smaller mortgage and can give you more affordable monthly payments.

  • Not Taking Advantage of First-Time Home Buyer Programs

Many first-time home buyers aren’t aware of the programs out there to support and put them ahead in their buying process. Ask a mortgage lender about your options and look for buyer programs in your state that can help you out. There are also loan programs available from agencies like the Federal Housing Administration, Department of Veterans Affairs, or even the Department of Agriculture which will give you loans with very low down payments required.

  • Using All of Your Savings

Never empty all of your savings to put a down payment on your home. Your savings can help you out a lot, of course with your down payment, but never empty them in case of needing unforeseen repairs to replacements for appliances. Save enough money specifically for a down payment and moving expenses, but don’t drain your entire savings to keep that buffer intact.

  • Not Getting Pre-Approved

Never shop around for homes before getting pre-approved for a mortgage. Getting pre-approved will give you an accurate idea of how much you’ll be able to borrow and what you’ll be able to afford, and will allow you to shop around in the proper price range. Being pre-approved will also give you a leg up on the competition if there are multiple offers on the property you want since you’ll be able to prove that you’re a serious buyer.

How to Find the Right Residential Moving Company?

Once you’ve found the right home for you, it’s time to find the right residential movers for you! Finding the right movers for your relocation makes a world of difference in the quality of your relocation and in how smooth and straightforward it is.

When researching moving companies, always look at your company’s reviews on third-party websites to ensure that past customers have received good experiences from this company and that they have good ratings on the Better Business Bureau. Additionally, these reviews will indicate that the company has the experience and a good history of providing the right moving services to their clients.

Once you’ve narrowed down your search to a few companies with good reviews, it’s time to check their licenses and accreditations to ensure that they have the right certifications and that they’re properly insured. From there, shop around for quotes and estimates from them to determine who will give you the right services at the best prices. If you’re looking for the best professional Chicago movers, see what Reebie Storage & Moving Co. can do for you today!

Finding the right moving company will let you relocate with ease and have a smooth transition into your new home. Work with Reebie Storage & Moving Co. today to relocate to your new home with the best professional movers.