Common Buyer Mistakes


It can be easy to get lost and confused during the home buying process. Proper planning is paramount. It’s also helpful to learn from other people’s mistakes.





Here are some of the most common mistakes people make when shopping for a new home.

1.) Not budgeting for everything: Yes, this sounds obvious, but many people forget about some of the costs of buying a home. There are added costs such as furniture and appliances, DIY projects, moving fees, or your first mortgage payment. This last one is especially important—setting a budget may help you determine how much you can comfortably afford to pay for your mortgage. See COSTS OF HOME BUYING page here on our website for more information.

2.) Neglecting your credit score: Your credit score will play a major role in the home buying process. This 3-digit number might be the thing that keeps you from your new home! Credit reports often contain errors or misinformation, so it’s important to retrieve your report ahead of time and fix any errors before sending it out to lenders. Looking at your credit reports may also give you a better idea of what interest rates you can expect so you can make room for them in your budget. See CREDIT SCORES page here on our website for more information.

3.) Trusting verbal agreements: A home seller can verbally accept your bid and still turn around and give it to someone else if a higher bidder comes along. So before you celebrate your new home, make sure you’ve signed paperwork!

4.) Skipping the home inspection: You can’t expect the seller to tell you about all the potential problems you might face if you buy their home. There might even be issues with the house that the seller isn’t aware of, which is why it’s crucial to hire an inspector to take a look through the house. An inspector will examine the overall foundation and structural features of a house. It’s their job to find these areas of concern so that you don’t have to worry about them later on!

5.) Sweating the small things: Don’t like the color of a house or the wallpaper inside? Is there something about the kitchen that you just can’t stand? Don’t sweat the small things! Focus instead on the location and the overall structure of the house. Once you move in you can change the small things you don’t like and make your house a home

If you avoid these mistakes and work closely with Team Lyon, you may just find the home you’ve been searching for!